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The coronavirus epidemic has hit the Western economic and political system, and while democracies have struggled to combat the crisis, China has brought down the problem with technology and authoritarian measures. And predicts the future.
The coronavirus epidemic has shown the weaknesses of capitalism and democracy around the world. Amid stagnant wages, growing digital inequality, the division of societies, the gap between rich and poor perhaps never has been more striking than now. While Western countries are stumbling over crisis management and testing the resilience of their democracies in crisis, China has rammed the problem with technology and authoritarian measures. Looking at China’s ambitions and technological advancements, especially its role in mitigating climate change, it’s not hard to imagine that this country will soon shape the world, says Harada Ryoszuke, editor-in-chief of Nikkei.
The change of era is reflected in the Asian distribution of a French wine, Beaujolais Houveau. In previous years, the wine arrived in Japan by air, while this year the “eco-Nouveau” train traveled from France to Shanghai, traveling 10,000 kilometers, and then transported by ship to Japan. Rail transport emits twelve times less CO2 than air transport, at a third of the cost, so the French can sell this year’s bottles as an ecological product.
And China is not just a station on the wine route. He set foot in a business that used to be primarily a Franco-Japanese business and his role is growing rapidly. Despite the pandemic, Japan remains the largest importer of Beaujolais wine, but China has already risen to third place among buyers.
Environmental Protection
According to the Japanese author, the green economy will drive the changes in the near future, even in digital development, the determining factor is that it contributes to the reduction of harmful activities for the environment, especially transport. Although Japan is falling behind in meeting its part of the Paris climate targets, the government is determined to make the economy carbon neutral by 2050.
There are two critical points in the transition. On the one hand, since the Fukushima nuclear power plant accident in 2011, the country has renounced nuclear energy, which must be replaced by renewable sources so that they can provide the country with a stable and reliable energy supply in 30 years. On the other hand, the country’s extensive automotive industry faces an electrical change in circumstances in which there is no guarantee that the leading companies in the current market will continue to be so in the future.
job
Artificial intelligence is causing a similar shift in employment. Carl Benedikt Frey of the University of Oxford predicts that half of today’s job opportunities in the world will disappear. In the early 1900s, Ford-invented belt production created a large number of jobs that contributed to the economic boom in the US in the 1950s, but today researchers are warning that without training people, which is not cheap, job opportunities will continue to flow. of the developed world.
According to the Massachusetts Institute of Technology (MIT), Japan’s prolonged economic stagnation was due to its adherence to its previous employment and tax system, which emerged at a time when mass production was booming. Thirty years later, the island nation has yet to transition to the digital economy, although it has fewer employment problems than other countries with equally strong economies.
Soaring
In this uncertain environment, China is becoming an economic superpower. In vain Joe Biden will replace US-led Donald Trump in January, he will be forced to continue to compete with China for the position of the world’s dominant power. The United States will not be in an easy position after the unpredictability of the Trump era, which is why the Japanese journalist believes that Europe and Japan should be involved in the reorganization of world trade. The United States is not represented in the two main Asian free trade systems, while the island nation is. Therefore, without the EU and Japan, the principles and practices of free trade cannot be defended around the world.
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