This is a new piece of my "Analyze It" seires.
At Davos, conversations quickly flow from Russia to China
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The (dim) future of globalization is the hot topic this week at the World Economic Forum in Davos—which was founded five decades ago to promote globalization. Putin’s invasion of Ukraine features as the main culprit. But in private, conversations quickly flow from Russia to China. Xi’s embrace of Putin, Biden’s defense of Taiwan, a zero-Covid policy gone south, and a slowing Chinese economy all feed the speculation…although with no clear end point. Few see rapprochement on the horizon, but few see war as likely either.
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Globalization or anti-Globalization is just a game of western elites. China is just a player in a game that was designed and ruled by those western elites. Yet when Globalization is going in a direction the western publics don't like, they all blame China, which is in itself becoming a local sport in the western publics.
Xi is not embracing Putin. Xi is doing what makes sense to the fundamental interests of the Chinese public. Under the circumstances that were created by Trump admin and re-enforced by Biden admin, it would be dereliction of his duty if he did not do what he is doing vis-a-vis Russia.
Biden is not defending Taiwan. US is just flirting with those green creatures on that island.
China's zero-Covid policy has been a great accomplishment in the global covid prevention and remedy since it broke out.
A slowing Chinese economy is such a given in the context of global Covid struggle in general and war-induced dollar-flooded inflation in particular. If we look at the aggregated economic performance from January 2019 to date (May 25th, 2022), China's economic performance is the best among big guys, hands down, period. It will also likely do so if we extrapolate from today to December 31st, 2025.
Yet in western MSM day in and day out, doom and gloom of China in general and Chinese economy in particular is the mainline of news and stories. And they would be "shocked" again 5 years or 10 years down the road. As Ron White once said: "you cannot fix stupid".