Leading economist who recently joined Shanghai University of Finance and Economics urges China to see JV/tech transfer demands as opportunities rather than threats
It seems to me that the UK's very high ratio of foreign assets to GDP is a legacy of colonialism which is both a strength and a weakness for the British state. A strength because that overseas capital generates a return and it can be repatriated if political circumstances allow, and a weakness because it provides a false sense of security, and encourages complacency in the domestic sphere. If you strip away the foreign assets and income, the UK is living beyond its means, and foreign assets and income can only be fully protected through global hegemony, which can no longer be taken for granted. Would China wish to end up in a similar position?
Having said that, there is space for China to constructively engage in the Asia-Pacific region at least. As the colonialist regime in New Zealand doubles down on its allegiance to the Anglosphere (US, UK, Australia, Canada), the country has steadily de-industrialized, while the population continues to grow. That leaves New Zealand increasingly dependent on primary industry exports, and vulnerable to trade shocks. When the political direction reverses, as it inevitably will, Aotearoa may be looking to China, among others, to collaborate in the restoration of domestic production as it asserts and develops national independence.
It seems to me that the UK's very high ratio of foreign assets to GDP is a legacy of colonialism which is both a strength and a weakness for the British state. A strength because that overseas capital generates a return and it can be repatriated if political circumstances allow, and a weakness because it provides a false sense of security, and encourages complacency in the domestic sphere. If you strip away the foreign assets and income, the UK is living beyond its means, and foreign assets and income can only be fully protected through global hegemony, which can no longer be taken for granted. Would China wish to end up in a similar position?
Having said that, there is space for China to constructively engage in the Asia-Pacific region at least. As the colonialist regime in New Zealand doubles down on its allegiance to the Anglosphere (US, UK, Australia, Canada), the country has steadily de-industrialized, while the population continues to grow. That leaves New Zealand increasingly dependent on primary industry exports, and vulnerable to trade shocks. When the political direction reverses, as it inevitably will, Aotearoa may be looking to China, among others, to collaborate in the restoration of domestic production as it asserts and develops national independence.
Open source is the way to go. Well said. Generosity all round.