Daily Archives: July 5, 2021

China’s Next 100 Years

As the Chinese Communist Party (CCP) turns 100, the late Milton Friedman is trending in cyberspace. The reason: “the spectacular ways in which the Nobel laureate had Asia’s now biggest economy wrong.”

In particular, his strong belief that capitalism would give China no choice but to go the way of Western democracies was dead wrong. Here’s how Friedman put it in 2003, less than two years after Beijing entered the World Trade Organization (WTO): “I predict that China will move increasingly toward political freedom if it continues its successful move to economic freedom.”

The exact opposite has happened. Rather than WTO rules changing China, the nation bent global trade to its own will. Ditto for the internet, which Friedman and his ilk argued would put the CCP out of favor.

President Xi Jinping reminded the globe in dramatic terms of the party’s indisputable role in China’s success – and in continuing its trajectory toward the ranks of advanced world powers. Speaking from Tiananmen Square before thousands of party officials, Xi struck a defiant tone about China’s broader ambitions.

“Nobody should underestimate the staunch determination, firm will and powerful capacity of the Chinese people to defend national sovereignty and territorial integrity,” Xi said.

The Chinese people, he added, “will never allow foreign forces to bully, oppress or enslave us. Whoever nurses delusions of doing that will crack their heads and spill blood on the Great Wall of steel built from the flesh and blood of 1.4 billion Chinese people.”

Read more at China’s next 100 years relies on the next 10

Leave a comment

Filed under chinese culture, workplace insights

Just Do It For China

Sucking up to China to protect its lucrative cash flow, Nike’s CEO says the American company’s brand is “just doing it for China.” The Swoosh is now figuratively intertwined with yellow stars on the red Chi-com flag.

Nike chief executive John Donahoe not only defended his woke Oregon-based company’s ties to China, but he also affirmed its competitive advantage in the Asian dictatorship, despite China’s notorious reputation for forced labor in the manufacturing of sports apparel.

“Nike is a brand that is of China and for China,” Donahoe unashamedly and unapologetically said.

Yahoo sports-writer Caroline Downey reported that Donahoe joined Nike in 2020 and has spent much time scoping out its operations in China. Greasing the skids with China, Donahoe said the company’s “biggest asset is consumer equity in the brand … it’s real, I saw it in my first week on the job.”

Read more at Just Do It For China! Nike Declares Its Brand “Of And For China”

Leave a comment

Filed under american culture, chinese culture, workplace insights