Uk and China
Rishi Sunak is a new name to all of us. Elevated very quickly to Chancellor in charge of the nation’s finances. And then provided a huge financial floor for millions of people whose work was suddenly shut down with lockout.
He has a wonderful background in British education, but also being an immigrant, knows the struggle to make their way and integrate. His family is Indian with that deep Asian culture, and they came here from East Africa.
And he delivered a world innovation. China, South Korea and Singapore were already deep into how keep the people with money. But a Western economy is quite different.
Rishi has tough challenges. We can see how football has not turned to provide all day tv training and interest for our young people. They have been absorbed by trying to hold on to their wealth and revenue streams. Understandable but wrong.
The Chancellor is facing this with banks, property companies and across the economy. He knows he is asking capitalism to trust him, even as insolvencies mount dramatically, most never to return.
They are fighting to keep their businesses. He is fighting to save the people.
But he is recognised, and thus is key, as not being ideological but deeply practical and non judgemental.
We are European not Asian. Our societies and financial structures are quite different. But, as we face a demolishing virus, we face the same threat.
We hope we will move to recovery, and again close global cooperation will be necessary. We also all have to recognise the developing world is in terrible trouble with no defences.
The need for global care is key. President Xi continues to direct supplies to Africa, Asia and South America. We must all stay mindful of those suffering more than us.
China to set up new integrated pilot zones for cross-border e-commerce to stabilize foreign trade, investment – Xinhua | English.news.cn ›