Balanced Global Leadership
The New Year and decade will hopefully usher in the peace and prosperity the world has long been craving. The state visit by China’s President Hu Jintau to America this month, where he will finally be feted at the long overdue White House state dinner by President Obama, offers both leaders the opportunity to do just that. Balance their countries mutually beneficial ─ and globally beneficial ─ leadership roles.
America’s economic and financial crisis offers China a unique opportunity to become the new global leader. China can replace the U.S. as the world’s new superpower. The question is will it? China has little debt, enormous savings with huge growth potential. Its’ current per capita income of $3,300 could be raised to $10,000 within two decades through a combination of growth and currency appreciation. At the same time, gross domestic product could rise from today’s more than $4 trillion to $13 trillion in today’s dollar terms. Such an increase could offer plenty to investors who bet on China’s future.
Many countries are retreating from some free market rules that have guided international trade in recent decades and have started playing by Chinese rules. But for China to engineer a new capital and political world order, it has to end the rampant corruption, fraud, intellectual and political misrepresentation, allow its currency to float freely, open it’s capital markets, have a truly independent judiciary that adheres to the rule of law, a free press and a more democratic political system ─ all of which are achievable ─ and a good reason why America should embrace China as its partner and lead the world together to a peaceful and harmonious future, a theme I have repeatedly advocated over the years.
The reality is the world is not anxious to embrace China as the world’s new superpower. The world still looks to America for leadership because of its constitutional ideals and humanity. To continue to lead, America cannot do so alone anymore. It needs a partner. That partner is not Russia, Japan or the EU. It is China.
The Sino-U.S. currency and Korean clashes are good starting cornerstones for both leaders to build their balanced shared global leadership roles at their summit to ensure a mutually beneficial and financially secure and peaceful 21st-century.
America’s economic and financial crisis offers China a unique opportunity to become the new global leader. China can replace the U.S. as the world’s new superpower. The question is will it? China has little debt, enormous savings with huge growth potential. Its’ current per capita income of $3,300 could be raised to $10,000 within two decades through a combination of growth and currency appreciation. At the same time, gross domestic product could rise from today’s more than $4 trillion to $13 trillion in today’s dollar terms. Such an increase could offer plenty to investors who bet on China’s future.
Many countries are retreating from some free market rules that have guided international trade in recent decades and have started playing by Chinese rules. But for China to engineer a new capital and political world order, it has to end the rampant corruption, fraud, intellectual and political misrepresentation, allow its currency to float freely, open it’s capital markets, have a truly independent judiciary that adheres to the rule of law, a free press and a more democratic political system ─ all of which are achievable ─ and a good reason why America should embrace China as its partner and lead the world together to a peaceful and harmonious future, a theme I have repeatedly advocated over the years.
The reality is the world is not anxious to embrace China as the world’s new superpower. The world still looks to America for leadership because of its constitutional ideals and humanity. To continue to lead, America cannot do so alone anymore. It needs a partner. That partner is not Russia, Japan or the EU. It is China.
The Sino-U.S. currency and Korean clashes are good starting cornerstones for both leaders to build their balanced shared global leadership roles at their summit to ensure a mutually beneficial and financially secure and peaceful 21st-century.
posted by Peter de Krassel's Custom Maid Politics at 11:28 PM
1 Comments:
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