thread

The West Reset

1. I just think 'they' are skint. 12 years of economic & innovation stagnation has resulted in the West being left behind. Emerging economies are unstable, undemocratic institutions, built on dollar a day style economics.

2. The 'green thing' is the vehicle for the West's reset, to push technology to the forefront of new growth.

I caught part of a discussion about currency reset a few weeks ago, predicting some sort of write off of governments debts. Maybe 25% or so of GDP across the West.

3. Could it be that institutions are using Covid as the catalyst for that to happen? In debt so deep the only way out is to write off colossal sums & start again with a cleaner, leaner balance sheet & a new Bretton Woods?

4. Is it the West's wake up call that China has the capability to overtake the West without some sort of massive boost to stimulate post Covid growth?

5. Can we capitalise on Hong Kongers coming to the UK & US? The gateway to the East in terms of financial markets, HK will lose some valuable experts with connections & knowledge.

6. In this day of proximity being measured in internet speed rather than air miles, can the West take some of Hong Kong's financiers & utilise their expertise in a new way?

7. I get the feeling we're missing some vital piece of information to make the jigsaw fit.

We can't just drop China like a stone, it would lead to hostility & in any event we don't have the instant means to replace their manufacturing with domestic production.

8. So is the plan to significantly reduce our reliance on the East over a period of time? A boiling the frog strategy, where China will be gradually phased out of the manufacturing sectors that can be brought home.

9. If that is the plan, I can't see many objecting. I don't suppose any government will state their intentions so bluntly. We've seen China's hostility towards neighbouring countries this year, their reaction to any form of criticism is to push others around.

10. We've seen the plight of the Uighur Muslims too & the humanitarian abuses.

Has the West finally woken up to the grave threat China poses to Western civilisation & takes that threat so seriously it feels only a massive boost in economic power will reassert global dominance?

11. No-one is suggesting Trump style economics is going away any time soon. And many think the Biden administration will be as cool towards China as Trump was, but without the 'Chynaa' narrative: a more softly softly approach, but equally as protectionist.

12. Whatever the agenda, if there is one, I wish they'd get on with it so people can move on, plan for tomorrow & see contentment restored to our democratic societies.