What China Agreement?
The China negotiaioins were “vitally important”. We, the Americans, were the whiter than white good guys at last challenging the Chinese bad guys to play by our rules – especialy over patent laws and intellectual security. Both nations paid a price in terms of capex delay, investment uncertainty, and disrupted supply chains and little extra has been achieved. Without the “effort” of the last 12 months the US economy might be closer to growth of 3%, other world economies would have prospered as well. The deafening silence of the market has underlined the very smallness of the progress. But terrible strides have been taken away from the partnerships developed in the last 50 years. The WTO, NATO, Paris and other trading arrangements have been challenged in the beggar my neighbour name of America First. No nation now can trust its long term relations with the US. The jury may still be out on China where its one belt one road initiative superficially at any rate has the makings of new partnerships, and innovative collaborations.
But here’s the thing – do not give up. All is still to play for and the game afoot has never been more desperate.
First of all let’s agree that trade legislation is not the issue. It needs to be watched. But our focus here should be on improving the competetive levels of investment, efficiency and technological change of our strongest companies and financial institutions.Then let market forces rip. The US can and will outcompete all comers.
The real game concerns the future and the two questions we should all be asking of our leaders as we enter 2020 and an election – What do we think sucess could look like for the World in the next 5 years and how do we get there? Here are two imperatives to get you all started:
- The two superpowers start to collaborate as partners in tackling Climate Change and World Poverty. These are the two global challenges. No leader can claim greatness as a statesman who ducks these, fails to focus the advances of new technology on the solution, to improve the world economies and so of course the market opportunities for all.
- The two superpowers start to collaborate as partners in tackling World Insurrection. We have real problems. Russia in the Ukraine, Turkey in the Aegean Sea, the festering diruption to the E.U. especially from its new eastern members, the collapse of the nation states of South America. Never in history have two superpowers prospered together. But never before have we known so clearly the issues and challenges facing the world. The time is right for some real negotiations about real challenges.Have a good day. James
- PS let me have your imperatives for the next 5 years.