16 nov 2019 related references - macrae family moment on transforming eductaion's new economy - bloomberg twitter on #neweconforum
A verbal projectile
making the rounds in Washington whenever China comes up is “decoupling.” Rudd (below) notes that the vocabulary has shifted with shocking speed: harsh language on trade has morphed into
chilling predictions of a technological Cold War. And now, the talk is about the possibility that the world’s two largest economies could split apart.
Preparations on
both sides are well underway. “It reminds me a little of the mobilization plans, schedules and railway timetables
of the great powers on the eve of the Great War,” Rudd writes.Nothing could be more damaging to the prospects of new economy countries.
Manufacturing and trade have been their only
reliable pathway to prosperity. True, a few have benefited from multinationals shifting pieces of their supply chains
away from China—Vietnam comes to mind. But many more are struggling as slowing trade and investment push the global economy toward recession.
In the run-up
to our gathering next week in Beijing, members of the Bloomberg New Economy community have been puzzling over alternative
scenarios. Rudd proposes “managed strategic competition,” by which he means the U.S. and China should decide where
they can, and can’t, cooperate, and where collaboration is desirable—like a joint effort to cure cancer. Next week’s forum will feature a workshop, led by Rudd, to better define these areas.
In a similar vein, Scott Kennedy, an expert on the Chinese
industrial economy at the Center for Strategic and International Studies, proposes the concept of “managed interdependence.”
Kennedy and his Washington think-tank colleague Jude Blanchette reject the argument that closer integration with China threatens U.S. security. On the contrary, they say Chinese
reliance on Western technology and markets makes America safer.
