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Bill Gates says China’s rise is a ‘huge win for the world’

via Lowy Institute

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    In a new interview, Microsoft co-founder Bill Gates said he views China’s global ascent as a “huge win for the world.”

    As the East Asian nation’s economy has seen major growth in recent years, the billionaire commented positively on China when he was asked by Michael Fullilove, executive director of Australia-based think tank the Lowy Institute, at an in-person event on Monday how “bullish” he was on the country.

    I tend to see China’s rise as a huge win for the world. I mean, that’s 20% of humanity. They today match their portion of the global economy, and their portion of the global population match exactly, you know, countries like Australia, U.S., we have per capita GDP’s five times what the Chinese have. So we have a disproportionate share of the world’s economy.

    You know, I do think the current mentality of the U.S. to China — and which is reciprocated — is kind of a lose-lose mentality. If you ask U.S. politicians, ‘Hey, would you like the Chinese economy to shrink by 20% or grow by 20%?’ I’m afraid they would vote that, ‘Yeah, let’s immiserate those people,’ not understanding that for the global economy, the invention of cancer drugs, the solution of climate change, you know we’re all in this together. We’re humans. We innovate together, and we have to change the modern industrial economy together in a pretty dramatic fashion.

    The billionaire also noted that the U.S. is politically in a weak state, adding that China and India have to play bigger roles in world governance.

    The U.S. is politically weaker today, I would say, than it’s been, and you know, that’s scary for the world. The current world system is designed around U.S. leadership. As other countries have gotten richer, these middle-income countries including China and India need to play a stronger role in world governance.

    The U.S. and China’s relationship has been strained over geopolitical issues and trade disagreements in recent years, most notably the sovereignty of Taiwan.

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