Tuesday, 14 December 2004
China has surely arrived on the world stage.
China has been aggressively pursuing more diplomatic and trade relations in Africa and all the others continents earth. This is occurring, while the sole claimant of the title of being the world only superpower, the United States, appear ready to self-implode and self-destruct economically and diplomatically; The American dollar is in a free-fall, when compared and measured against all other major currencies, including the European Euro, the British pound sterling and the Japanese Yen.
Nigeria and many other countries, are beginning to contemplate at least, the use of other currencies to measure foreign reserves and international trade transactions; This financial skepticism are a healthy development, as the world is headed for some economic and political re-configuration, in this era of the so-called globalization, as it may also signal a wavering of confidence in the stability of the American dollar, the dollar, which has become volatile in the world markets.
With the re-election of George Bush, which means a re-enactment and replay of the deficit inducing and fiscally irresponsible tax cuts of the past four years, which are bound to continue undisturbed, coupled with inflationary pressures, that are beginning to rear its ugly heads, the American national deficit is multiplying in leaps and bounds or in quantum; All these are added to the unenviable tasks of fighting two wars at once, Mr. Bush may be leading the American economy into a spiral, from which a recovery and rebound is difficult to predict, the American economy is famously resilient, but, one must wonder, and ask, how many blows can the American economy absorb simultaneously? Wars are being fought by the Americans, with the deficit rising rapidly, as the president cuts taxes!
China on the other hand, is at peace with the world and now manufactures everything! China now makes DVD players, to coffee cups to personal computers and technological tools of the most sophisticated kinds. The next time that you purchase anything, check to see if it is not made in China! China have been amassing bilateral and multilateral agreements, that includes investments in oil sectors in many countries, Nigeria, Sudan, Angola and parts of South America, the Chinese have also been investing in transportation network systems in many countries.
China’s has during the past several years, experienced economic growth rate in excess of 9% annually, unsurpassed by the Americans and Europeans. The Chinese economy is boisterously exuberant and buoyant, especially in the building and construction segment, in addition to the booming manufacturing sector. Chinese economy is vigorously robust.
There are many indications that the enormous economic growth rate or pace, that we see in China now, will in fact increase, because of the sort of country, that China is. China has a vast population of almost two billion persons, and a great number of Chinese citizens, posses high quality education in science and technology, which, as we all know, is the driver seat of modern economies.
Chinese are also becoming the majority of the world’s tourists, as the Chinese middle class expands, with consequent disposable individual incomes? American airplane manufacturers have invested billions of dollars in China in the past few years. China presents a humongous market opportunity to all-the-world! One can just imagine the size of the middleclass in China, let us say, out of a population of almost two billion people, there is a three hundred million members in the middle and upper middle class.
China is not perceived as a global threat or bully, there are no anti China sentiments everywhere, and one cannot say exactly the same thing about the United States, especially these days the Bush administration unilateralism and its frequently offensive isolationist provocative pronouncements. A combination of natural and man-made factors are making China look wonderfully good, as China positions herself as an industrious super power without obvious enemies, real or imagined. Fortunately, for China, she is perceived as the powerful but gentle giant and a non-threatening superpower
It does not appear as if there are wars or conflicts in China’s future, except perhaps, disputes that may arise from China’s soon to be, near domination of world trade, as she garners larger market share, China, will soon enough, dwarf the marketing tentacles of many countries, especially, those of America and Europe; It is common knowledge that labor is cheap in China, even as they churn out quality products, cheap labor results in cheap or moderately priced products and this means consumers’ heaven and profits for China and the Chinese people
China has continued to export her culture, through the establishments of cultural centers in many parts of the world, particularly in southeast Asia, this augurs well, as the language of international trade will have to include or accommodate Chinese sooner than later. Ni hao maa, is a cordial greeting in Chinese.