The city that put the world on wheels, the Arsenal of
Democracy, the Motor City, Detroit, has filed for bankruptcy. A once-proud city
is humiliated in the world’s eye.
Detroit can learn from China about how to turn
adversity into strength. China suffered through a century of humiliation to a
historical rise to preeminence today.
Wei Yuan, a Chinese scholar attempted to combine
traditional scholarly knowledge with practical experience to find workable
solutions to problems of the day. In his book, Records of the Conquest, Wei
writes, “Humiliation stimulates effort; when a country (city) is humiliated, its
spirit will be aroused” or “To feel shame is to approach courage.”
With insight and leadership China could play a role in
revitalizing a once iconic American city.
We need to pay attention as China returns to a
historical position of strength. It must be noted, China had the world’s largest
economy — 18 out of the past 20 centuries.
The China-United States Exchange Foundation, a
non-government and nonprofit organization based in Hong Kong seeks to foster a
strengthened and improved relationship between China and the United States under
the leadership of Tung CheeHwa, vice chairman of the 12th National Committee of
the Chinese People’s Political Consultative Conference and founder and chairman
of the foundation, recently released a report: “U.S.-China Economic Relations in
the next Ten Years.”
It should be mandatory reading for government and
business leaders with an interest in rebuilding Detroit.
The report concludes that Beijing and Washington share
the desire to “establish a pattern of secure, high-quality sustainable growth
and employment for their people.”
It could be argued in the early days of the
normalization of the relations between China and the U.S. that the China bridge
was more of a one-way span in China’s favor. That certainly is not true
today.
Chinese investment in the U.S. is at an all-time
high.
According to the Heritage Foundation, total Chinese
investment in the U.S. since 2005 stands at $54 billion, and expected to grow
significantly over the next decade.
According to the Asia Society, the Chinese will be
seeking overseas investment opportunities from $1-2 trillion over the next
decade.
Detroit needs to be aggressive about securing a chunk
of this Chinese investment.
Michigan’s business community now includes more than
50 major Chinese companies that have invested more than $1 billion in our state
and growing,” recounted Michael A. Finney, president and CEO of the Michigan
Economic Development Corporation.
As our new immigrant and business-friendly governor,
Rick Snyder, who has traveled to China twice as governor with a third trip
planned for this fall, likes to say: “Michigan is open for business.” Investment
in Detroit ought to be a priority of the governor’s upcoming China trip.
Snyder is seeking foreign direct investment in our
state and wants to export our agricultural products, technology know-how and
other goods and services around the globe.
As the report, “U.S.-China Economic relations in the
next ten years,” spells out, over the course of the next decade this important
economic relationship has the potential to create enormous economic
opportunities and millions of jobs, as well as public good, globally.
Chinese Consul General Zhao Weiping, based in Chicago,
recently said, “Michigan has many ingredients: Economic, social, cultural and
educational that make it attractive to Chinese investors, and I suspect as the
relationship matures, the investments and job creation will only continue to
grow.”
John McElory, a global auto expert and president of
Blue Sky Productions, understands Detroit is a fountain of opportunity for
Chinese investors: “The Chinese are coming to Michigan because when they look
around they don’t see shuttered factories, they see nothing but
opportunity.”
Detroit can rise like a phoenix from the ashes of
humiliation.
Remember, “To feel shame is to approach courage.”
From The Detroit News: http://www.detroitnews.com/article/20130724/OPINION01/307240001#ixzz2ZzQO09tn
