http://www.forbes.com/sites/ralphjennings/2016/08/31/china-to-push-ambitious-global-agenda-on-wary-world-leaders/#392148634f2b
This article by Forbes discusses the G-20 summit that just happened last week. The article examines possible proposals and stances that China will take/push during the summit. The article basically explains that China will pursue a strong economic plan. They believed that china would cover “consolidation of cross-border investment rules and the industrialization of Africa” as two of their possible points. But the writers believed that China’s plans would not be eagerly accepted because of China’s own economic problems. One point that was made towards the end was that there was a possibility that some leaders would reluctantly accept some of what china wants. This is because currently it is tough for foreign companies, so they are hoping this will soften china’s approach.
I personally found this article interesting because it pointed out largely that China had its sights set on Africa and parts of Asia, with hopes to develop it further. This was similar to what we read about the Washington consensus. The Washington consensus aimed to open up trade and introduce free markets into post-communist countries. But this was critiqued in the reading because as it pointed out this did not always work, and actually hurt some counties. I think this is important for the leaders at G-20 to remember when tackling this issue. It is important that we help the developing world, but we have to go about it carefully. What they think is helping these developing nations, could end up hurting them down the line.
Another subject the article touched upon was consolidation of cross border consolidation. It seems like China wants to model after the EU system but on a global scale. As part of this they want to reduce trade costs and increase its financing. These are things that are very similar to what the EU does. Whether or not this is a good thing is something that had been untested on such a large scale. I think it is important that we see how the Brexit situation works out before we go any further. This could essentially prove to be a domino effect of countries leaving the EU, or the EU could just not be sustainable. I think that it is good that they are looking forward and are being ambitious. They seem to be aware that there is a problem, and are trying to figure out ways to solve them.
I do think it is a good thing that China is looking ahead in trying to help other developing countries, but I don't agree that China should be taking the role that the United States did in reference to Latin America. As we talked about in class China necessarily doesn't have a lot of Capital such as the U.S. and still is emerging in being a factor in the world economy. I also think that if China is making a point to take after the Washington consensus they should evaluate most of its principles and improve. China should have a great source in examining what is effective and what isn't.
ReplyDeleteDo you think that China would have the ability to be more effective to help developing nations that say the US was in Latin America? One could say that Latin America is well off in places, but it is riddled with corruption and has a lot of displaced populations. While the US intervened before 2000 in most of these countries, do you think that China could take the lessons learned and apply them effectively in regions such as Africa?
DeleteI admire China's ambition to take on this challenge, an as an emerging global superpower with the capital it's gaining it makes sense that they're doing so. This being said, you're completely right to acknowledge that China has its own immense problems of its own that it needs to fix first. From problems with infrastructure to bribery and corruption to its education system needing reform. Moreover, this place will need specific social policies that might not agree with China's Communist regime.
ReplyDeleteI agree with you that China is very ambitious and that is something to admire. Hopefully they can use this ambition and put it towards good use. I think that while china does have a lot of corruptions as you pointed out, and as I pointed out earlier, I think that eventually they will start turning away from some of these policies. I believe when this happens they can use their ambition and their power on the global stage to enact some real change.
DeleteI am going to take a contrary view and say that I believe that China is in it for their own interests (as many theories would agree with) and a lot of the countries they are developing are suffering because of this. The development is often times used to make China rich off the backs of other countries as can be seen in Lesotho which has infrastructure being built by China in exchange for their control over natural resources (such as diamonds and gold). No individuals in the country are reaping benefits from this industrial building and many (even educated people) do not understand why China is even there.
ReplyDeleteI think that you are making a really interesting point that is widely supported by people. As you pointed out it seems that China is in it for their own interests. It seems that maybe they are entering into an age of a new colonialism. While they necessarily were not a colonial power, they are taking advantage of their power now. They could very well be "helping" other nations, just to benefit themselves.
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