China Says It Will Lead the World Economy If Western Nations Stand Down


Fortune has the article China Says It Will Lead the World Economy If Western Nations Stand Down.

A top Chinese diplomat has said that China is ready to lead the world economy if other nations should retreat from globalization.

That pretty much sums up the entire value of this Fortune article, For the rest of the article, Fortune manages to read between the lines on both sides of this story to misunderstand both sides. Here is just one example.

In Beijing, Zhang told reporters at the briefing that China would continue to pursue its own Asia-Pacific regional free trade deal independent of the TPP, reports the Journal. He also touted the country’s trillion-dollar One Belt, One Road trade initiative, which would connect China with countries along the ancient Silk Road trade route.

Is Fortune trying to imply that the TPP was something that China would have supported? One of our reasons for creating TPP was to fight with China. It certainly wasn’t going to be good for them, at the same time it managed not to be good for us 99%. Not all global trade policies are created equal. Depending on what is in the policy, it can either be good for the world, or it can be very bad for most people in the world. TPP fell into the second category. It would be better to have called it the rich people’s protection act (RPP).

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