As Britain rolls out the red carpet for China’s president, draping the communist leader in as much pomp and circumstance as can be mustered, there is excitable talk of a “golden era” in our relationship with Beijing. Difficult issues such as cyber-terrorism and human rights are brushed under the carpet as we bow before the new global powerhouse, while alarmed commentators talk about Western decline.
Yet the remarkable rise of China should be welcomed. Last year, on one measure, it became the world’s biggest economy, overtaking the United States (which had held the title for 142 years). Thus China regained the position it has held for most of human history; indeed, early in the 19th century it was responsible for an estimated one-third of global output. This, however, is not a zero-sum game – and its return to the top should be seen as a sign of global progress and opportunity.
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