Made "with" China? — Shi Zhan on RMB Appreciation and Building a "Shadow China" Abroad
"Once you have earned all the world’s money, you cannot keep doing so for long. If everyone else has no money left to earn, they will no longer be able to keep buying your goods..."
One phrase has stuck with me since my recent trip to Beijing: “Made with China.” I heard it in conversation with a scholar who serves as one of China’s chief narrative architects—a master of “telling China’s story well.”
He was responding to my questions about the sustainability of China’s trade surplus with Europe. His argument in a nutshell: Beijing recognises there’s a problem, but it will be resolved by the transition from a “Made in China” world to a “Made with China” paradigm that promises jobs and local value creation for host economies.
I was left with the impression of an important new line being worked into shape.
The case for a new wave of Chinese overseas investment is gaining ground in both discourse and policy. Last month saw the publication of a new State Council regulation granting Beijing wide-ranging powers to punish foreign entities deemed to harm Chinese investors and our new June digest section, “Going Out”, engaged with this trend.
The article by Shi Zhan, a profess…