China’s Bold Plan To Reshape The World’s Monetary System With Gold & Blockchain
China’s Bold Plan To Reshape The World’s Monetary System With Gold & Blockchain from King World News
Today one of the greats in the business discussed China’s bold plan to reshape the world’s monetary system with gold and blockchain.
Ghost Cities Coming Alive
November 12 (King World News) – Dr. Stephen Leeb: “Early this decade, the Chinese city Zhengzhou was often cited as a poster child of Chinese development run amok. The West derided it as the quintessential ghost city, a lavishly appointed metropolis missing just one thing; residents. Today, just five or so years later, according to Bloomberg, Zhengzhou is a bustling city benefiting from a surrounding network of infrastructure that was similarly viewed as mere busywork designed to line the pockets of corrupt bureaucrats. The new roads and rails put Zhengzhou within easy reach of Beijing, Shanghai, and other major economic hubs. Moreover, the city has become a key link between China and the country’s One Belt, One Road initiative, connecting it by rail to Central Asia, Russia, and Europe, all critical parts of Eurasia. A once nearly deserted airport now sees its world-class runways host cargo traffic growing by more than 30 percent a year…
There’s a message here that far transcends Zhengzhou. It’s that China is flourishing both by thinking long term and by not looking at anything in isolation. The renowned social psychologist Richard Nisbett, in his book The Geography of Thought, describes how the differing mindsets of West and East have resulted from a cultural evolution occurring over several millennia. The Greeks, the progenitors of Western thought, focused on objects and on measuring them – one reason for their many scientific accomplishments. The Chinese focused on relationships among objects. To put it differently, the West thinks analytically, the East holistically. It’s a distinction that expresses the difference between successful countries (the West) and successful civilizations (China).
Nisbett emphasizes the differences have nothing to do with intellectual endowment and everything to do with culture. For me, the lesson is that for the U.S. to thrive in today’s world, we will need to adapt our cultural habits of thought to start seeing ourselves as part of a whole and not as the whole. I make these points because often those who write about China’s rise seem to assume that China’s gain must be America’s loss and vice versa. But I don’t think the Chinese see it that way – and it will only harm us if we persist in such a mindset.