The COVID-19 pandemic has affected every country around the world in a manner not seen since the Great Financial Crisis of 2008, and is perhaps one of the most transformative events in decades. Most countries and governments have played catch-up to the pandemic, trying to get a handle on case numbers after an explosive increase. But a few places: Taiwan, Singapore, Hong Kong, South Korea, New Zealand, Australia, Vietnam and China appear to have kept the virus largely under control.
Economics
Titling a book The Myth of Chinese Capitalism invites prospective readers to expect an unraveling of this singular, definite-articled story. It also suggests, to this reader at least, weighty theoretical contents, including perhaps tables and pie-charts. Dexter Roberts’s book is no work of dense economic theory, however, nor does it pretend to have uncovered some singular narrative of China’s development. Rather, it is lucid, personal, nuanced—and rather difficult to summarize.
If 2020 ends up being remembered as a pivotal year along the lines of 1914, perhaps as the year the 21st century actually began, COVID-19 is likely to be the main cause. Much of what was considered “normal” in everything from everyday life to geopolitics has been swept away. What hasn’t changed, however, is that publishing, like nature, abhors a vacuum: books on the subject have already started to arrive.
Andrew B Liu’s Tea War comes with a promising title and an equally promising concept. What better window into macro-economic evolution of east and south Asia than the development of iconic beverage of the region, “the most consumed beverage around the world today” aside from water? And war it was, between the centuries-old Chinese and nascent Indian exports of a quintessentially Asian commodity.
“Decoupling” is the international relations word-of-the-day. American politicians have long criticized the massive trade deficit between the United States and China, but pandemic-driven disruptions to supply chains and deepening tensions between Beijing and Washington have now encouraged policies to start rolling back the links between the two economies. And it’s not just the United States: Europe, Japan, and Taiwan have all mooted policies to reduce their reliance on Chinese manufacturing.
The only surprise in the growing Chinese presence in Latin America is that it still seems to continue to catch some people (at least Americans) unawares. China is now the largest trade and investment partner for several Latin American countries and the second largest for several more.
It can be difficult to remember today, but before 1978—the beginning of the reform era—famines struck China with depressing regularity. Many (or perhaps most) of them were human-induced. That certainly goes for the terrible famine of 1959-1961, which resulted from Mao Zedong’s so-called “Great Leap Forward” economic development program. A key element of this murderous social experiment was the forced collectivization of farmers into enormous People’s Communes consisting of thousands of households. Intended to bring about food security and income levels approaching those of the United Kingdom (the Soviet Union wanted to surpass the US, so Mao targeted the UK), it led instead to the starvation of some 20-50 million people. No one knows the true number.