The Dangers of Election Year China Bashing October 19, 2022 by Tom Watkins / Opinion Investment goes where it is welcome and stays where it is nurtured, and there’s little evidence that election year China bashing has created a single …
The world has been tilting for some time now beginning with the Great Recession more than a decade ago. The most significant economic downturn since the Great Depression began in the U.S. in 2007 and brought on the ensuing global recession in 2009.
The 2010s proved emblematic of protests around the globe. Beginning with the Arab Spring and the Occupy protests – from Iran to Ukraine, South Korea, Zimbabwe and Greece – and ending with a swell of anti-government demonstrations in India, Iraq, Lebanon, Hong Kong, Latin America, parts of Europe and beyond.
Oh, how things have changed in China. The rise of the Chinese Communist Party (CCP) the past one hundred years has been brutal, offensive, uplifting, inspiring and as oppressive as it has been impressive at times. The CCP’s powerful Central Committee has passed a resolution that is expected to enhance President Xi Jinping’s grip on power as the 21st century unfolds. The resolution calls Xi’s ideology is “the epitome of the Chinese culture and soul.”
I have been an observer and at times a small participant in the changes in China having a lifelong interest in all things China and have traveled extensively across the country for the past 30 plus years.
Forty five years ago, Deng Xiaoping introduced major economic reforms–lifting hundreds of millions of people out of poverty and leading to it becoming the second-largest economy in the world, a superpower and has both economic and military muscle to flex on the global stage.
The Bipartisan Infrastructure Deal, signed into law on November 15, brings much needed—albeit long overdue—relief and forward looking investments. The deal includes $42 billion for ports and airports and $66 billion in passenger and freight rail. According to the Coalition for America’s Gateways and Trade Corridors, the bill will provide up to $78 billion over five years to address the interconnected system that moves freight across the country.
The US has been the undisputed ‘world champ’ economy since the end of WW11. Do we wish to remain in the number one spot? Then it is time to stop whining and complaining about China and start investing in our country and the American people.
To be clear, the Chinese government’s main goal is to restore their country to its historical greatness – a return to wealth, power, and world prestige. This point was driven home in Michael Schumann’s new book: Superpower Interrupted. The book offers atypical insights for understanding China’s place in the world, especially the drive to “Make China Great Again.”
Can we lay down new stones to help create a better future foundation for China, the U.S., and the world?
The consequences of not finding a smooth way forward to manage the differences between the two largest economies in the world with the biggest and mightiest militaries are too dire to contemplate. What kind of future are we heading to if our leaders don’t find sensible ways forward?