While studying about the Eastern Nations (also read, the recent study on the economy of Cyprus) I had a chance to thoroughly go through America’s policies just when Donald Trump was sworn in as President. From my view, his policies changed at the speed of light. I think the broad analysis is still right.
Trump’s belief is that America has been taken advantage of in world trade.
Right now it’s a question of whether globalists will actually win his ear or not. For several hundreds of years, the world has looked to the West, Europe and America, for global leadership. But now, with a shift of economic power to Asia, it is changing.
There is a country called China which is rising at a tremendous speed, and another great power is emerging in India from the Eastern Nations. The world must pay attention to these regional struggles in the same way that, in another time, people paid attention to relations between England and France. It is time the World also pay attention to what is happening on the Korean peninsula or with Sino-Japanese relations as well as the relations between China and America. America is an open society and most people speak English. China is a very closed system, and most people don’t understand it—even the Chinese. India is growing, but it is very complex, with regionalism and interest groups and the like. What does this mean to smaller economies? Of course, there are contested territories today that have never been big global power areas, but in this new emerging era that is driven by Asian economic growth, they are no longer above all in the sphere of influence of the West.
In Africa, which was obviously one of the Eastern Nations colonized by the West, the biggest source of investment these days is from China. This also happens in Latin America, especially countries like Brazil. Their biggest trading partner is China. The question is, does China invest Foreign Direct Investment (FDI) differently than Western nations?
There are loads and loads of different things you could point to. Chinese companies have a tendency to bring all their labor in from China. People get upset over this but they care less. The Chinese are also tied to Western ideas of good governance. They don’t come in with this World Bank list of requirements. No!
The upside is it can open doors for you. The downside is you can get a bad reputation. Period! I keep having this at back of my mind that, the Chinese have their own way of doing their business. Do you believe this point? Let us know in the comments section below.
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