While the world is focused on fighting the coronavirus, it is also important to take note of another war taking place on the global stage. An anti-China war, started by the US under the current administration right from 2017 onward when Trump began a trade war with the Middle Kingdom.
The trade war has since morphed into an economic and technological war, notably against Huawei among other Chinese tech companies, a pro-Hong Kong anti-China war, and as some have predicted, it could even end in a real war. Other countries are being dragged into it, most importantly Britain and Australia, when the latter’s economy is as inextricably tied with the Chinese economy, as America’s is. Europe has its own fears about dealing with China.
India has been fighting its low-engagement war with China over border incursions by the Chinese in the northern and eastern parts of India. However, much like with the Trump regime, a political border-related issue has morphed into an all-out anti-China campaign being waged by New Delhi, where the Indian government has banned scores of Chinese apps and companies.
At a time of a global pandemic when the world needs more cooperation and investment and trade, and even in what can be considered normal circumstances, I take a look at how the world can better tackle China’s rise in this edition of the Owl Wisdom Podcast. For, whether we admit it or not, that seems to be the crux of the issue.
My approach to the China “problem” is to make one’s own economy more competitive, with broad-based growth and geared to take on the challenges of the future. Here, I look at what kind of industrial policy India can adopt to ensure longer-term growth with a much-needed shift to a more formal economy.
Below, you’ll also find links to articles and other suggested reading that you might enjoy.
Links for further reading:
Harvard Business Review on Doing Business in China
China’s Economy: What Everyone Needs to Know by Arthur R. Kroeber
China: A History by John Keay
Red Star Over China by Edgar Snow
This edition of the Owl Wisdom Podcast uses music by Ashutosh and PeriTune from Free-stock-music.com in the main sections and music by Twisterium from freebackgroundtracks.net in the intro and interlude sections and is grateful to all for the same.