Sunday, November 22, 2009

Money & Business

Transcript: China Chat

Posted 6/24/05
Page 10 of 10

Fischer: We have traditionally underestimated the ability of the Chinese people to overcome constraints put in their way. My sense is that there's no reason that that's going to change. So, my belief is that we'll see China move faster and more assertively in the world market, maybe in international politics than it has in the past, faster than we predict. And that it will be the biggest story in our children's lives.

Lu: China may not be necessarily a threat to the rest of the world. How to manage the rise of China is a huge challenge to the outside world and I think all of us living abroad, living overseas, should push for engagement with China, and not condemn it.

Xue: China actually has a lot of challenges internally in its process of development. So I say, understand China and engage China. That's the best strategy.

Simon: This question of a threat from China really needs to be turned around. I think that the real threat to the United States may be our inability to engage China. That is to have sufficient numbers of people who have language skills, cultural skills, etc. People who basically can work with the Chinese so that we can leverage the advances that they're making and they can interact with us so that whether it's in science and technology, economics, health care, whatever there needs to be ability to forge alliances and to forge more collaborative relationships. I think the world of the 21st century is going to be a world of two major powers, China and the United States. If we can't learn to live together and work together then we're headed for lots of conflict at every turn in the future. So we've got to be very cautious that we're very delicate but yet well prepared in order to engage China, in order to understand how far and how fast it's moving and where we can benefit from it.

Utley: Thank you very much all. I want to thank all of the panel members for being with us today. I want to thank Richard Newman and U.S. News & World Report and congratulate them on their excellent cover story. Thank you.

* The audioconference is sponsored by the Cisco MeetingPlace conferencing solution -Richard J. Newman

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