Sunday, March 29, 2015

The Coming of 21st Century World Great Economic Opportunity Tides

The Coming of 21st Century World Great Economic Opportunity Tides By Francis C W Fung, Ph. D. America initiated the 20th Century world trade globalization. But the 2008 world financial crisis caused by the U.S. toxic asset collapse and its worldwide devastating spread signaled the end of the good days of world trade globalization of the 20th Century. Seven years later world major economies in the world still mired in great recession with the exception of China. The whole world is looking for new economic or technology breakthrough to bail the world economy out of its quagmire. The coming 21st Century World Great Economic Opportunity Tides in short are the Great Infrastructure Revolution bring on by China’s “Belt and Road” initiative in2013, the second Globalization as a result of world connectivity of the infrastructure revolution and the 21st Century Transportation Revolution brought about also by world connectivity. All these economic and technology breakthroughs will be described in more detail below. As if God send Xi Jinping, the Chinese president, in 2013 got the inspiration to announce the modernization of the ancient Silk Road. This is the Silk Road Economic Belt and 21st Century Ocean Silk Road Initiative or the “Belt and Road” initiative in short. The initiative is to launch modern transportation and communication infrastructure to connect Asia through Central Asia to Europe and from South East Asia through ocean to Middle East and finally Africa. More details of the “Belt and Road” initiative will be revealed in more detail in the following “Belt and Road Action Plan” This vast “Belt and Road” initiative will thus greatly advance Commerce, communication, cultural and technology exchange, people and people contact all over the world to benefit human progress in the brave 21st century era. The resulting world connectivity will bring trade globalization to another height far exceeding the 20th century because this time the connectivity expands to a far greater world. This time we may experience true worldwide harmony, mutual development and prosperity like no other time in history before. From the preface of the “Belt and Road” Action Plan titled “VISION AND ACTIONS ON JOINTLY BUILDING SILK ROAD ECONOMIC BELT AND 21ST-CENTURY MARITIME SILK ROAD” we quote: “MORE THAN TWO MILLENNIA AGO THE DILIGENT AND COURAGEOUS PEOPLE OF EURASIA EXPLORED AND OPENED UP SEVERAL ROUTES OF TRADE AND CULTURAL EXCHANGES THAT LINKED THE MAJOR CIVILIZATIONS OF ASIA, EUROPE AND AFRICA, COLLECTIVELY CALLED THE SILK ROAD BY LATER GENERATIONS. FOR THOUSANDS OF YEARS, THE SILK ROAD SPIRIT - "PEACE AND COOPERATION, OPENNESS AND INCLUSIVENESS, MUTUAL LEARNING AND MUTUAL BENEFIT" - HAS BEEN PASSED FROM GENERATION TO GENERATION, PROMOTED THE PROGRESS OF HUMAN CIVILIZATION, AND CONTRIBUTED GREATLY TO THE PROSPERITY AND DEVELOPMENT OF THE COUNTRIES ALONG THE SILK ROAD. SYMBOLIZING COMMUNICATION AND COOPERATION BETWEEN THE EAST AND THE WEST, THE SILK ROAD SPIRIT IS A HISTORIC AND CULTURAL HERITAGE SHARED BY ALL COUNTRIES AROUND THE WORLD. IN THE 21ST CENTURY, A NEW ERA MARKED BY THE THEME OF PEACE, DEVELOPMENT, COOPERATION AND MUTUAL BENEFIT, IT IS ALL THE MORE IMPORTANT FOR US TO CARRY ON THE SILK ROAD SPIRIT IN FACE OF THE WEAK RECOVERY OF THE GLOBAL ECONOMY, AND COMPLEX INTERNATIONAL AND REGIONAL SITUATIONS. WHEN CHINESE PRESIDENT XI JINPING VISITED CENTRAL ASIA AND SOUTHEAST ASIA IN SEPTEMBER AND OCTOBER OF 2013, HE RAISED THE INITIATIVE OF JOINTLY BUILDING THE SILK ROAD ECONOMIC BELT AND THE 21ST-CENTURY MARITIME SILK ROAD (HEREINAFTER REFERRED TO AS THE BELT AND ROAD), WHICH HAVE ATTRACTED CLOSE ATTENTION FROM ALL OVER THE WORLD. AT THE CHINA-ASEAN EXPO IN 2013, CHINESE PREMIER LI KEQIANG EMPHASIZED THE NEED TO BUILD THE MARITIME SILK ROAD ORIENTED TOWARDS ASEAN, AND TO CREATE STRATEGIC PROPELLERS FOR HINTERLAND DEVELOPMENT. ACCELERATING THE BUILDING OF THE BELT AND ROAD CAN HELP PROMOTE THE ECONOMIC PROSPERITY OF THE COUNTRIES ALONG THE BELT AND ROAD AND REGIONAL ECONOMIC COOPERATION, STRENGTHEN EXCHANGES AND MUTUAL LEARNING BETWEEN DIFFERENT CIVILIZATIONS, AND PROMOTE WORLD PEACE AND DEVELOPMENT. IT IS A GREAT UNDERTAKING THAT WILL BENEFIT PEOPLE AROUND THE WORLD. THE BELT AND ROAD INITIATIVE IS A SYSTEMATIC PROJECT, WHICH SHOULD BE JOINTLY BUILT THROUGH CONSULTATION TO MEET THE INTERESTS OF ALL, AND EFFORTS SHOULD BE MADE TO INTEGRATE THE DEVELOPMENT STRATEGIES OF THE COUNTRIES ALONG THE BELT AND ROAD. THE CHINESE GOVERNMENT HAS DRAFTED AND PUBLISHED THE VISION AND ACTIONS ON JOINTLY BUILDING SILK ROAD ECONOMIC BELT AND 21ST-CENTURY MARITIME SILK ROAD TO PROMOTE THE IMPLEMENTATION OF THE INITIATIVE, INSTILL VIGOR AND VITALITY INTO THE ANCIENT SILK ROAD, CONNECT ASIAN, EUROPEAN AND AFRICAN COUNTRIES MORE CLOSELY AND PROMOTE MUTUALLY BENEFICIAL COOPERATION TO A NEW HIGH AND IN NEW FORMS.” The Belt and Road is the first 21st Century Economic Opportunity Tide that will modernize almost all the developing countries of the world and bring endless commercial opportunities for them to prosper. This first 21st Century first Economic Opportunity tide may also be called the 21st Century Infrastructure Revolution. For any country to develop its wealth, the first priority is to build first class infrastructures as witnessed by the rise of America and China during the 20th Century that follows massive infrastructure construction. The second Economic Opportunity Tide is the Second Commercial Globalization brought about by the superior infrastructure due to the enhanced worldwide “Belt and Road” connectivity. This will bring flourishing world trade to all countries in the world thus commercial successes in every corners of the world unlike the first 20th century globalization. During the first globalization initiated by America only Europe, China and parts of Asia prospered. This time the whole world will prosper. Because of this 21st Century infrastructure revolution and Second Commercial Globalization tides initiated by China the wealth generated by expanded global commerce due to the rising developing world will empower India to become the new “factory of the World” replacing China. Because of its rising middle and huge population China will become the “Market of the world” replacing the U.S. America will remain the dominant military power and policeman of the world but not the hegemony power of the world as it enjoyed throughout most of 20th century. For its number one economic position will be surpassed by China in both national and per capital GDP. This is due mainly by the wealth generated by the commercial return by China acting as the initiator and main funding partner in the great belt and road infrastructure building and trading network. The third 21st Century coming economic Opportunity tide will be the Transportation Revolution. It started with the wide application of high-speed train throughout China and along all the important stretches of the Belt and Road Initiative. Soon supersize surface effect ships will sail the oceans to carry passengers and cargo at 100 knots and higher speed and much more fuel efficient than commercial airlines. Personal surface effect air ships that will skim the ocean and land surface at 350 miles per hour that can travel everywhere. Under development will also be air shuttle that can travel at supersonic speed in tubes without pollution and very fuel-efficient. To add to all above will be super cavity torpedo boats that can travel at sonic speed in the ocean. When all above mentioned can be fully deployed, humankind will be free to travel at will and further stimulate our growth potential and interconnectivity. 21st Century development and harmony will reach a new height far exceeds the 20th Century. Francis C W Fung,Ph.D. Director General World Harmony Organization San Francisco, CA March 30, 2015

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