Chinese Economics Thread
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Lethe
Captain
Not sure if this is the most appropriate thread. If not, feel free to move it.
Good discussion from a couple of weeks back between Kaiser Kuo and Adam Tooze about China-Europe economic relations. Tooze's prescription is for both sides to drop the moralism and work towards practical solutions based upon a clear-eyed assessment and understanding of the other's imperatives, e.g. Europe should probably give up on the idea of challenging China's mastery of photovoltaics and batteries and welcome Chinese investment in Europe, conversely China should recognise that Europe will not allow its automotive sector to be smashed by Chinese imports.
But the route to get to that conclusion is more interesting. Kuo brings up China's resentment (委屈) at having followed the developmental playbook and now being blamed for it. Tooze cheerfully admits that the western conception of economic development never had room to accomodate the rise of China, or even the lesser challenge of Japan. The implication is that economic development is only acceptable insofar as it does not fundamentally challenge the hierarchy of nations. In the context of this discussion at least, Tooze just tables this and moves on, but I think it is worth dwelling upon for a moment.
The mythology and self-image of the west is that it has ascertained the essential ingredients for civilisation and modernity, and that to share in the benevolent prosperity of the west other nations need only emulate the economic, political, legal and cultural structures of the west. The west is happy to assist other nations along this journey, because western principles are of course universal principles and westerners are of course nothing if not benevolent.
China makes a mockery of all this, but crucially the real injury here is not to the material interests of western nations but to their self-image: the rise of China compels the west to confront the limitations of its own mythologies. This is most uncomfortable, and so the standard move is to sidestep the issue by pretending that the problem with China is the CPC, or Taiwan, or the nine-dash line, or Xi Jinping, or Huawei industrial espionage, or an undervalued currency, etc. etc. The truth is that, for the west, the real problem with China is China: any conceivable unified, sovereign Chinese polity on a comparable developmental trajectory was destined to be regarded as a disruptive and unwelcome development to be contained.
Good discussion from a couple of weeks back between Kaiser Kuo and Adam Tooze about China-Europe economic relations. Tooze's prescription is for both sides to drop the moralism and work towards practical solutions based upon a clear-eyed assessment and understanding of the other's imperatives, e.g. Europe should probably give up on the idea of challenging China's mastery of photovoltaics and batteries and welcome Chinese investment in Europe, conversely China should recognise that Europe will not allow its automotive sector to be smashed by Chinese imports.
But the route to get to that conclusion is more interesting. Kuo brings up China's resentment (委屈) at having followed the developmental playbook and now being blamed for it. Tooze cheerfully admits that the western conception of economic development never had room to accomodate the rise of China, or even the lesser challenge of Japan. The implication is that economic development is only acceptable insofar as it does not fundamentally challenge the hierarchy of nations. In the context of this discussion at least, Tooze just tables this and moves on, but I think it is worth dwelling upon for a moment.
The mythology and self-image of the west is that it has ascertained the essential ingredients for civilisation and modernity, and that to share in the benevolent prosperity of the west other nations need only emulate the economic, political, legal and cultural structures of the west. The west is happy to assist other nations along this journey, because western principles are of course universal principles and westerners are of course nothing if not benevolent.
China makes a mockery of all this, but crucially the real injury here is not to the material interests of western nations but to their self-image: the rise of China compels the west to confront the limitations of its own mythologies. This is most uncomfortable, and so the standard move is to sidestep the issue by pretending that the problem with China is the CPC, or Taiwan, or the nine-dash line, or Xi Jinping, or Huawei industrial espionage, or an undervalued currency, etc. etc. The truth is that, for the west, the real problem with China is China: any conceivable unified, sovereign Chinese polity on a comparable developmental trajectory was destined to be regarded as a disruptive and unwelcome development to be contained.
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