By Arthur Kroeber
“China’s spirit”, opined the People’s Daily in a recent editorial, is a “Great Wall” built to ward off global crisis.
In purple prose heralding China’s recent heroic successes, the editorial extols the Communist Party for leading China back from the global economic abyss after the country recorded 7.9 per cent growth in the second quarter of this year.
“This situation in China is in sharp contrast with Western developed nations, where the economic growth has kept sliding,” it concludes.
The nauseating tone of the editorial reminds us of a famous quotation by the Roman historian Livy, explaining why the Carthaginian commander Hannibal failed to destroy the Roman Empire.
“Capua was Hannibal’s Cannae,” Livy wrote. It is a judgment that China’s leadership (and smug editorial writers) would do well to heed today.
By Arthur Kroeber
US Treasury secretary Timothy Geithner’s visit to Beijing this week is sure to reinvigorate debate about a new world order run by a “G2” condominium of the US and China.
Speaking at Peking University on Monday, Mr Geithner emphasised the importance of bilateral relations. “China and the United States individually, and together, are so important in the global economy and financial system that what we do has a direct impact on the stability and strength of the international economic system,” he said.
Now, it is perfectly accurate to note that the US and China have a uniquely symbiotic relationship, that they will soon be the two largest national economies, and that many important global problems such as climate change cannot be solved without the active participation of both.
Yet none of these facts, singly or collectively, implies that a Sino-American condominium is either a viable or a desirable outcome. Both logic and evidence, in fact, suggest the opposite.