The image of China

Escrito el 9 enero 2010 por Miguel Aguirre Uzquiano en Economía Global

Last year was the 60th anniversary of the founding of the People’s Republic by the victorious communists over the KMT (Kuomintang) in 1949. In that way the Chinese civilization, one of the oldest of the world (over 4.000 years) and the most populous country on the earth came into the 20th century as the big red menace.  Those were the fifties were the cold war was at its prime.

Actually everybody agrees that the Asian dragon is one of the main economies and is mean to have even a bigger role in the next years: The largest producer of the world, second exporter and the third importer and the main US bond holder.

After these big achievements what should be the main goals for China this year? Perhaps the biggest point is to be able to change the rest of the world’s appraisal on them.

Usually China is presented by their leaders as angry and defensively assertive.  The future demand relay on the West and how those citizens see and rely on Chinese products and services.  In the last Copenhagen’s summit seemed that China realized for the first time that helping to ease climate issues is in the world’s interest and on their own.  This is a start and perhaps now we could expect the Chinese authorities to be able to open a little bit and accept the tolerance in the information inside of its own frontiers.

China is the only country that could repeat an impressive 8-9%growth in GDP this year but the unbalance of the state directed economy, big exports and shavings, too little consumption, could bring some changes in the next 12 months. If China wants to rebalance the economy for a long term growth there will be more pressure for reforms that would help persuade consumers to start spending their hard-earning shavings.  When will be possible to see a bunch of Chinese tourists taking themselves photos over the Eiffel Tower or the Big Ben?  It will be sooner that we think. Last 23rd of December Volvo cars was sold by Ford to the Chinese motor manufacturer Geely, so Europeans would have to learn how to respect and consider the Chinese economy and the Chinese should have to sell a more comfortable image to the world


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