Monday, May 22, 2006

Answer to Asia’s rise is not to retreat


Martin Wolf of the Financial Times presents (in a podcast) the facts about how developed economies should respond to up and coming Asian economies. It is refreshing, and he utilises basic pure economic argument that is literally common sense, to explain the pros and cons.
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To quote him on another of his podcasts (Tyranny of vested interests), the [simple] solutions to the challenges posed are deemed easy to achieve, which couldn't be farther from the truth. The tyranny of vested interests is a heading that fits perfectly over the current developed world stance, vis-à-vis emerging and poor countries.
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Listen to his other podcasts here
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One theme that keeps precipitating in my research is that we [in the world] are now well knowledgeable about what holds us back, the threats to globalisation, international integration and the lot of it. The forces of vested interests that distort world trade and subsequently incomes, etc, and the vested interests behind corruption within poor countries are behemoths that are difficult to breakdown and eliminate. This has been explained ad nauseum.
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It appears that the modus operandi is for a politician or celebrity to come along, every now and again, to remind us of the consequences of our inward vision and inaction, often with an agenda of their own. It is refreshing when an economic heavyweight such as Mr Wolf reminds everybody that the solutions are not rocket science, they just lack support. As simple as that, but how do you effectively generate consistent support?

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