Understanding China

Book reading is the best thing to do during the Holy Week. Rest I did at Riverside for a few days following an asthma attack and thanking all my friends who complied with my request, please don't come. Otherwise, I couldn't rest. I didn't miss a column though.

I'd like to welcome, though late, my British friend Ken Reader. I missed a lunch appointment with him, Jimmy Golez, and Neil Honeyman.

I also missed the graduation speech of Pompey Querubin at NOHS where he belongs to Class '48. And a dinner that followed at L'Fisher for his cheerers, the Sunshine Boys.

A good pompous speaker since his high school days, I was told Pompey delivered an inspirational speech but the Sunshine Boys did better. They clapped even before the point was delivered. The sumptuous dinner was therefore, well deserved.

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Recently during the annual stockholders meeting of DAILY STAR, Director Enrique Dy gave me a book, "The Writing on the Wall" by famous British journalist-economist Will Hutton. Its theme is the West must embrace China as a partner or face it as an enemy.

I believe President Arroyo and our leaders are doing it.

The common prevailing view of China is that it is an economic juggernaut and to become the dominant world power in the 21st century.

Will Hutton argues his case well. It is the apprehension of many to consider China as an enemy. No! China will be a good partner of the West if it understands China well.

Because of its booming economy and its overflowing foreign exchange reserves, China is making heavy investments in the U.S. and Europe. They are also investing in Asia. Not much in the Philippines.

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For the West with its knowledge economy, it must not panic. Hutton warned that "China is running up against a set of daunting challenges from within its own political and economic system that could derail its rise, leading to a massive shock to the global economy."

Hutton says, the U.S. must recognize that it has a vital stake in working that this does not happen. If China's political globalization and economic growth collapse, the U.S. will suffer crippling consequences.

Hutton, internationally known economist journalist, says much of the economic health of the U.S., low inflation, high profits, and cheap credit rests upon China's economic growth and massive investments in the U.S.

A military threat from China? Unfounded, says Hutton.

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Besides, China's current economic model based on its many contradictions and dysfunctions of an authoritarian state is attempting to control an economy in its transition to capitalism.

Hutton said, "If China were to be a 21st century economy it must embrace the features of modern Western nations like the political and economic stability of U.S. and Europe.

It must adopt a rule of law, an independent judiciary, freedom of the press, and an authentic representative government that is accountable to the people.

At home, we need to understand China better. I hope our local Tsinoy leaders follow the example of Enrique Dy who, I have long known, is very earnest in making China known. The thrust of its policies.

That's what a good businessman should be.

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Meanwhile, in Russia, the world chess champion we idolized two decades ago, Gary Kasparov is making a political gambit - (gambit, in chess as I understand it is an opening to gain positional advantage) by declaring his plan to run for the Russian presidency.

He is challenging Russian President Vladimir Putin in the March 2008 election. But Putin's term will be over. So, whoever Putin puts up.

Although the Russian economy is booming not seen in many past decades and people live freer lives unlike the days of the gulags and concentration camps, Kasparov says the political system is still mired by a military industrial security complex, like Putin, with roots in the old KGB days.

Kasparov is an icon in Russia. He's been an undefeated chess world champion since 1985. He is used to being an underdog, coming from behind to win. He plans to do it with the Russian presidency.

In 1985, he challenged champion Anatoly Karpov who jumped to an early lead of 5-0. He who scored the first 6 wins. Then after a series of many draws, Kasparov scored 3, making it 5-3.

It was on Feb. 15, 1985 when International Chess Federation president Florencio Campomanes stopped the match, saying the two were tired. Kasparov was angry. But Campomanes, a Filipino newspaperman who became FIDE president, stood his ground.

That year, Kasparov beat Karpov and became world champion.

When asked how long he has been a politician, he answered, since Feb. 15, 1985, when Campomanes ended the match, now that he was winning.

He knows that the international chess federation is influenced by international politics.*

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