For the last couple of days, China has once again amazed the world by launching a rocket into space and this is combined with the not so late Olympic ceremony. Are these significant events a sign of things to come? A sign that China is growing birth to a new age of dominance? One might say yes because of the economic events happening in America with Lehman brothers becoming insolvent and a number of other banks like AIG and Merrill Lynch needing state help.
The effects of the sub-prime mortgages crisis has effected everyone economically with share prices in the Far east dropping, but yet China continues to amaze people with their new feats. Is this dominance? Dominance is apparent when a country can withstand an economic crisis and still continue to grow in the light of such a depression. If one applies this definition, then it would be correct to say that China is at the forefront of a new age of dominance.
However, are these events just superficial or propaganda? How are China funding such activities? is the funding coming from state credit or is the supposed age of dominance just a short term fuse?
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2 comments:
Maybe dominance is not how a country can withstand an economic crisis but more about how a country manage to bail itself out from a crisis.
The launching of rocket into space isnt just a three day plan but rather a plan that has been given the green light for at least five years ago. The event definitely shows that China is capable of doing something; one which Russia and USA has done it two-three decades ago.
Does that show global dominance? Not quite yet I would say...
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