Matolcsy: What will the West do next?

English2020. dec. 18.GOVERNOR MATOLCSY100WORDS

Since the Opium War of the 1840s China’s strategy has been clear-cut: to prevent the recurrence of that tragic event in history and to make a great national rejuvenation. It is more than understandable, it is fair and just, it could not be otherwise.

So, the real question is not what China will do next, instead of that, what the West will do the next with China? /James Kynge, FT, Books, 24 October/25 October 2020/

There is only a digital, 0/1 solution. For both the West and China, we can either trust each other or we can be afraid of each other. Of course, we can be frenemies based on both, trust and fear. However, the latter is always stronger, meaning that finally we end up with the 0/1 dilemma.

The traditional win/lose mindset is based on fear, the positive win/win approach benefits from trust.

Nevertheless, the old pattern is dead and we have to face the new pattern of our time. We can have either a win/win situation or a lose/lose outcome. 

Can the West really afford the luxury to lose historically and in a grand scale?

Governor Matolcsy, MNB, the Central Bank of Hungary

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