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Friday 18 Aug 2017 | 22:52 | SYDNEY
Friday 18 Aug 2017 | 22:52 | SYDNEY

Obama talks to The Economist



6 August 2014 14:04

Some interesting quotes from a wide-ranging interview. On Asia:

Part of what Asia was able to do was not simply open up markets to the West for cheaper goods, it was also able to foster homegrown businesses in Asia with regional markets that gave an opportunity for businesses to get better, to develop better products, to in some ways avoid competition on the global scale right away. Essentially, you can operate off-Broadway before you open the show on Broadway.

Hmmm, is that an accurate portrayal of Asia's economic miracle? I'm not so sure.

On China:

One thing I will say about China, though, is you also have to be pretty firm with them, because they will push as hard as they can until they meet resistance. They’re not sentimental, and they are not interested in abstractions. And so simple appeals to international norms are insufficient. There have to be mechanisms both to be tough with them when we think that they’re breaching international norms, but also to show them the potential benefits over the long term. And what is true for China then becomes an analogy for many of the other emerging markets.

On Russia:

Russia doesn’t make anything. Immigrants aren’t rushing to Moscow in search of opportunity. The life expectancy of the Russian male is around 60 years old. The population is shrinking. And so we have to respond with resolve in what are effectively regional challenges that Russia presents. We have to make sure that they don’t escalate where suddenly nuclear weapons are back in the discussion of foreign policy. And as long as we do that, then I think history is on our side.

Now this one is definitely not true.

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