It is almost impossible to ignore and not comment on the ongoing dramatic activities of the global economic crisis, and as we all watch, comment and contemplate the next move, the many activities are starting to pose more questions than answers writes the publisher of Australia China Connections, Carl Jetter.

The recent G20 meeting in London was an excellent example of an extremely expensive talk fest, presented by the gathering of the world’s leading economic countries.

Putting my cynical statement aside, a high level ‘networking’ function such as the G20 conference can produce positive outcomes, yet invites quite a few pertinent questions.

I support the global government’s initiative of spending their tax payer’s hard earned money by initiating extensive infrastructure projects and hence creating thousands of jobs and income.

Yet, I need to pose the following questions.

I constantly hear the statement by various government leaders ‘that they will do what ever is necessary to get the economy going again.’ What does that mean?

Where do they want to take the economy back to? The excesses of 2006, 2007 and then 2008, which caused our present crisis?

Do we still want, or should we still have, giant global corporations? Is big still beautiful?

I don’t believe so.

Prior to and during the G20 conference there were many concerns raised in respect to governments around the world starting to think and act with inward looking approaches.

And why not? Who is more important – your family or your surrounding neighbourhood? Putting your family first does not mean that you can’t have a productive relationship with your neighbours.

A Chinese friend in Melbourne firmly believes that our future lies in ‘the globalisation of localisation’ and the time has arrived to understand the benefits.

The painful, yet healthy slow down of the Chinese economy, as mentioned in this issue, will strengthen the relationship and opportunities with our giant neighbour.

The government and business delegations from China arriving in Australia to learn and establish relationships in business, have not slowed down. They come from regional centres and major cities. And their intension to build ‘guanxi’ (business connections) is serious and warm.

Is that ‘Globalisation of Localisation’?

Carl Jetter

May / June 2009