A question I received: How do you see the future of China in light of the current global crisis?
My Answer: Today China is the most dynamically developing part of the global economy. Nevertheless, although China isn’t losing capital, a slowdown in its development is inevitable.
It appears that the Chinese economy is suffering less than the other economies. After all, China is protected by a powerful political regime, a closed inner market, its own strong currency, a cheap labor force, and a weak connection with the international funds system. Compared to the international recession, China is revealing an opportunity for growth in internal real estate development and consumption.
The Prime Minister of the People’s Republic of China, Wen Jiabao, gave a speech at the closing of the Asia-Europe summit held on October 26, where he stated: “We need reforms that will aid in creating a fair and effective global financial structure.” Unlike any other country, with the exception of the USA, China cares about education in the scientific field. There are 500,000 Chinese students studying outside of China, of whom 200,000 are studying in the USA. It turns out that in the 21st century, the only countries that will be able to successfully develop a technical-scientific base are the USA and China.
However, in order to become a superpower of the 21st century in a multi-polar system of the world order, in order for the Chinese goods to find a market, considering that the country’s economy is built on direct international investments, China will have to consider the need to integrate into the single global civilization. In the future, the system of interactions will have no choice but to change under the influence of nature, and to become harmonious, interconnected, truly integral and global, like a single organism. Incidentally, the ancient Chinese philosophy also sees the world exactly this way!