My column in the FT this week is on Beijing’s rapid development:
Shooting down the multi-lane highway from Qingdao airport to the centre of the coastal city this week, I had the usual impressions of a visitor to China. The roads were immaculate, the drive into town took a long time because of the sprawl of what is only a medium-sized Chinese city – only 8m or so people in the metropolitan area – and buildings sprouted on all sides.
I also noticed that I, the sole westerner in the Audi cruising in from the airport, was the only passenger wearing a seatbelt.
That is a metaphor for China itself in the week when Barack Obama paid a visit. It is travelling rapidly along the path of development into one of the world’s largest economies, without much room for error.
The US president’s visit this week has focused minds on the tensions in the US-China relationship in the wake of last year’s financial crisis. America relies on China to finance its trade deficit, while China needs the US to buy its goods in order to keep export-led growth on track.
Please read the rest here and comment below.
