Kevin Rudd’s brother,a Chinabusiness man has written anexcellent article (i.e. thepoints he makes largely confirm my thinking).
The thrust of hisarticle is that we are riding on China’s tail. It is starting tomove forcefully, and as it continues to do so, it is likely to quickly emergeas the world’s largest economy. We can’t afford to not understand the wayChinese think.
It is a verydown-to-earth article that makes a number of different points and is well worth reading infull. One other point, however, is worth repeating. They will act in their ownbest interest, but are not out to overcome or crush us.
There are a couple ofother news items that I think are quite revealing:
· China’s undervalued currency is creating a lot ofrhetoric. Thisarticle in Time not only provides a more holistic perspective on the issue,but goes on to describe the real coming threat to advanced nations.
· China’smove to corner rare earth production iswell known,
· Less well know is it’s investmentsin ports in Burma, Sri Lanka, Pakistan, Africa, Greece, Italy.
These are just random news items, I, who amat best a sporadic amateur Chinawatcher have picked up.
As I said, earlier, China is not working off a sinistermaster plan to own the world. What we have with China is that it’s public andprivate sector work together in a way that is leagues ahead of the way ourswork. The Chinese are intelligent and work extremely hard. They will pay lipservice to western institutions and rules to the extent that it serves theirpurpose. They have studied Western capitalism, digested it, and moved forwardto their own system of wealth creation.
Australiais currently the best country in the world to live in. It offers an excellentlifestyle coupled with an excellent GDP. However, we are too complacent. Wehave no clear strategies. We are saving too little. We are selling ourresources and spending the resultant wealth on consumer goods. We waste ourmoney on useless foreign wars. When we hand over the reins to our children,will it still be the best country in the world?
China has woken up. Australiais asleep.