What Does it Mean to be a Superpower?

The last few years has seen the talk of how the global balance of power is shifting from west to east. There is all this hoopla about how China and India will be the next superpowers. And the growing economic pains in the west have only added to more fuel to the fire. But what does it really mean to be a superpower in the world stage?

Having close to double digit economic growth make a country a super power? Or building new roads, bridges, super-fast trains make a country a super-power? Or flexing the new found muscles on the world stage, be it the UN, or the Climate Change talks make a country a super-power?

Sure all of these things can make a country get noticed. But it is how responsibly a country uses its new found recognition to further the greater good of human kind, is what will make a country a true superpower.

Case in point been the recent tragedy in Haiti. In response to an article by James Fallows, a readers writes:

"There are some moments in international affairs that put global power relations into perspective, however. The U.S. is committing $100 million to Haiti, plus probably untold amounts in private donations from aid organizations and religious groups. President Obama is deploying 5,000 troops including the 82nd Airborne and sending in a carrier task force. American companies are mobilizing humanitarian efforts, and there will likely be dozens of search and rescue teams from across the U.S. trying to land in Haiti. Miami Dade county alone is sending an 80-man search and rescue team.

"China is committing $1 million and sent 50 guys on an Air China plane.

"Yes, there is geographical proximity to consider [plus China being on average still very poor], but if this isn't the most obvious display of the massive combined military, economic, and soft power the U.S. can bring to bear if it chooses, then I don't know what is. To me, this shows the still enormous gulf in both power and the responsible use of power between China and the U.S. For all its faults and recent woes, the U.S. can and will step up and perform the duties demanded of the only indispensable nation. China, in spite of breakneck growth and a booming economy, cannot and will not."

Read the complete post at Unified field theory: Google, China, Haiti

The Year of the Ox

The Year of the Ox could not have had a more ironic start. While the Chinese greeted the lunar new year, hoping that the coming year of the Ox will bring wealth and prosperity, the other half of the world saw announcements of more layoffs and a country on the verge of collapse.

With each passing day, the world economic situation is getting dire and dire. The first and foremost question on most people minds is are we anywhere close to the bottom, or is this just the beginning of what looks like to be a long drawn out recession affecting all parts of the world? Lets hope that the former part is true

Are Olympcis Worth the Cost?

The recently concluded Olympics in China have been hailed as a huge success, may be the most successful Olympics in modern history. The colorful and extravagant opening and closing ceremonies and off courses the athletics events certainly added to the buzz about this been a very successful Olympics.

But my question is, was the $43 billion spent by China preparing for this event worth the cost of hosting an Olympics? Was the money spent in renovating one city, Beijing, worth the effort? What about other areas in China which are predominantly poor and starved for infrastructure? How will the Olympics benefit these areas? And finally how is the success of the Olympics judged? Is it just by the glittering opening and closing ceremonies, the successful athletics etc? With China setting the bar of $43 billion to stage the Olympics, should the future hosts also spend that much or more to have a successful event?

Democratic Capitalism Vs Authoritarian Capitalism

China has been a darling for foreign investors becuase of the economic reforms and its outlandish economic growth over the past few years. But when it comes to political and democratic reforms, thats another story.

Robert Reich , in his commentary for Market Place explores how China may be winning by adopting economic freedom, but may lose the battle by not providing political freedom.