We Are All West Now
by Xinghai Fang
The market economy model invented and practised by the West is no longer working. The East is growing with such speed that it threatens to obliterate the West. Such warnings as these are often delivered in discussions of capitalism in crisis and the rise of the East. But in pursuing prosperity, we are all following the western model. Here there is no East v West divide. In fact we are all West.
So what has caused such anxiety in the West? One factor is that there has been a shift in the terms of trade between the West and East in the past few decades. Once, a computer made in a western country could be exchanged for 10,000 pairs of socks made in
Neither has politics served the West well during the past decade. In the face of domestic and international challenges, politicians chose asset or debt bubbles to assuage citizens' pain instead of making the tough adjustments needed to reposition their economies. When the bubbles burst and adjustments became imperative, most parts of the West were experiencing a prolonged period of weak political leadership. Hence the malaise we see today.
Watching the rapid and sustained growth in the East, some in the West argue that
A strong government suits
The West cannot adopt
The "all-West" world augurs well for everyone. All the West has to do is to cut some welfare spending, save and invest more, and better educate its young people. There is evidence that these changes are already beginning to happen.
The West's superiority in technologies, design and luxury goods, clean environment, higher education, and healthcare is still formidable.
- We Are All West Now
- The Second Oil Revolution
- In Rigged Elections 65% is the New 99%
- Volatile Times, Uncertain Futures
- Environment: Throw Nothing Away. It's Time to Upcycle
- Is There an Internet Off Switch?
- Power of the iMob
- Responsibility to Protect or Reform?
- History Never Quite Ends
- Why We Still Need the World Bank
- Detection Points in the Terrorist Attack Cycle
- Explaining U.S. Strategy
- Assessing China's Strategy
- The Globalization of Animal Welfare
- The State of the World: A Framework
- The Myth of the End of Terrorism
- World Views: Niall Ferguson Interview
- How to Spot a Growing Military Power
- Food: Who will Feed the Next 2 billion?
- Civilization in Reverse
- Globalization: Survival of the Phoniest
- Arms Smugglers Learn from Drug Trade
- Looking Back on a Good Year for Humankind
- The Age of the Citizen
- Can Democracy Survive the Decline of the Middle Class?
- Globalization and the Threat to the West
- The Reconciliation of Capitalism and Democracy
- When Currencies Collapse
- Balancing the East, Upgrading the West
- Global Health: Eradication and Elimination
"We Are All West Now"