‘Consultants’ have been predicting the collapse of the Chinese language and Russian economies for years, however the actuality is invariably totally different
By Abbas Juma, worldwide journalist, political commentator, Center East and Africa specialist
The Economist has put out one other cowl story on China’s supposed financial decline. I ponder after they’ll all get uninterested in this theme?
It’s even change into a meme.
In 2001, Gordon Chang, a well-known American lawyer and political commentator with Chinese language roots, wrote a e book known as ‘The Coming Collapse of China’. In truth, it was this e book that made him well-known. In it, the ‘knowledgeable’ argued that the nation’s collapse was imminent. He even named the 12 months – 2011.
When the anticipated occasions didn’t occur, Chang mentioned he was unsuitable, however solely by one 12 months. In an article for International Coverage (FP) journal, Chang claimed that the tip of China was already close to, and that the whole lot would occur in 2012. He even urged readers to wager on it.
However these guarantees by no means got here to cross. Then, in 2016, the indefatigable Gordon once more introduced the approaching collapse of China, however properly didn’t give a date.
Amusingly, in one other FP piece, Chang urged individuals to not imagine the IMF’s prediction that China’s financial system would overtake that of the US by 2016. And in 2016, he wasn’t deterred by the truth that China had overtaken the US when it comes to GDP transformed into {dollars} at buying energy parity.
“Rising tensions inside the regime, financial turmoil, and a extra vibrant society. China seems to be coming into a brand new interval of maximum political instability,” wrote the perennially unsuitable knowledgeable within the Nationwide Curiosity.
The Economist, persevering with Chang’s wonderful work, waits from cowl to cowl for the collapse of the Celestial Empire. It’s paying homage to Jehovah’s Witnesses ready for Armageddon, and appears oblivious to the truth that its content material is indifferent from actuality. However there isn’t any creativity in any respect – simply pandas and dragons.
The West has been burying China’s financial system for many years, in the identical manner it determined Russia’s financial system was lifeless after the beginning of the navy operation in Ukraine. A robust Beijing and Moscow is the US’ worst nightmare. Solely an in depth alliance between Beijing and Moscow could possibly be extra horrifying – and as we speak that not solely exists, however is gaining extra supporters. Thus, it’s unattainable to guage the brand new wave of ‘forecasts’ and ‘analyses’ concerning the imminent decline of China in isolation from the newest BRICS summit, the place it was introduced that six extra nations will be part of the format.
The Wall Road Journal now says that the choice to incorporate new gamers in BRICS is a victory for China and Russia. That doesn’t actually match with the brand new cowl of The Economist, does it?
The statements, views and opinions expressed on this column are solely these of the writer and don’t essentially characterize these of RT.
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