UK-China partnership still needs to be greatly developed
IT must have been a bitter-sweet moment for Xi Jinping, the head of the world's biggest Communist Party, to be riding in a gilded carriage seated next to Queen Elizabeth II, the world's longest reigning monarch, second only to the king of Thailand, on their way to Buckingham Palace.
After all, in the 1950s, when Mr Xi was a mere child and Elizabeth was already queen, chairman Mao Zedong set for China the seemingly impossible goal of catching up with the UK in 15 years. Some 57 years later, riding in the ultra-modern Australian-built royal coach drawn by six white horses, Mr Xi had the satisfaction of knowing that his country had long surpassed the UK and that the British were now supplicants seeking Chinese investment.
History, obviously, has not been forgotten by China. The BBC reported that People's Daily declared in a front-page editorial: "The national humiliation that China suffered in modern times began with the rumble of cannon from British warships."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access