Harmony and goodwill are the only options

May 26, 2025

Alex Lo draws attention to the economic dilemma in which our region finds itself: trade imbalances with China and the belligerence of Beijing. The focus on trade growth presumes a growth in consumerism. However, he fails to mention the growth of environmental instability this, often superfluous, consumption is creating.

The three basic economic needs, food, clothing and shelter, become impossible goals in the region, or globally for that matter, as an overheated atmosphere drives a degree of climate change humanity hasn’t faced since the end of the last glaciation.

The balance of trade shuffling Lo calls for is only shifting the deck chairs. From the scientific forecasts and the impact of increasingly extreme weather events, it would appear we’ve already hit the iceberg. It’s now just a matter of keeping the ship afloat until we make safe harbour.

The safety of that harbour will depend on the goodwill of all those involved, including a Trumpian America verging on civil war. Profits don’t come into it; survival and sustainability will have to replace growth if we’re going to re-float humanity. China can play a major role in that, but that won’t be possible under its current China-first policy.