Don’t underestimate China | Financial Science

Jakob Linderoth, board member, Aker Unge Høyre. Personal

Politics of the two superpowers have been based on the same illusions and wrong assumptions; we allow them to act freely without showing that we are united in responding to authoritarian regimes. Not only that, we have provided a lot of critical production critical infrastructure to China. Most of the technology and raw materials for this come from China. When should we be separated from the rules of the game of these countries?

The current economic war between the West and Russia may be the first act in a much larger economic war between the West and China. Not only can China inflict far more damage than an ailing Russia by Vladimir Putin – and Russia inflict significant damage on the global economy, but wars with China and Russia (and their client countries) can mean the destruction of prosperity and long-term divisions. long. the world into two hostile blocs.

Western embrace of China based on the idea that China will retaliate by embracing Western economic norms and cultural values. Economic liberalization will give birth to political liberalization because the new middle class demands democratic rights. China is now on a two-way campaign to increase its global influence: restoring international order from the inside out by increasing its influence on established institutions such as the World Bank.

How should the West respond to China’s rise?

The similarities between China and Russia are stark. We have learned to our credit that Putin meant it when he said that Ukraine was part of Russia and that he was willing to suffer serious economic pain to take Ukraine. We have to admit that Xi is as serious as Taiwan.

China’s cooperation is essential to solving all of our major collective problems, from global growth to climate change

With the exception of China if they don’t change course and continue with an iron fist on their own people, this is not the answer to how we should deal with trade disputes or keep supply chains functioning. China under Xi is a far more significant adversary than Russia under Putin. China is the world’s second largest economy, but has accounted for 25-30 percent of global economic growth since the 2008 crisis. We rely on the production of mobile phones for cars mainly from China. Many companies including Apple are now starting to expand outside of China because of the risk of holding a larger share of production in China.

China’s cooperation is critical to solving all of our major collective problems, from global growth to climate change. Therefore, organizations such as the EU and NATO are the most suitable alternatives for developing means of mutual pressure against China and other dictatorial leaders, both to promote Norwegian interests. We do this to the best of our ability through a common political funnel. The EU may be the mouthpiece next to the US having the most influence, but Norway is not a member of the EU and that is a problem if democratic values ​​are to remain dominant in a world where China is gaining more power.

Jakob Linderoth

Aker Unge Høyre . board member

Georgie Burke

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