Visions of Greatness (Part 1)

Visions of Greatness (Part 1)

What makes for greatness?

Photo: Ronnie Macdonald. Source: Wikimedia

There’s a telling exchange in the movie “Lawrence of Arabia” where King Faisal tells British Lieutenant Lawrence that the medieval Arab city of Cordova had two miles of public lighting while London was still a village. “You were great then,” Lawrence replies. “Time to be great again, my Lord.”

When Chinese leader Xi Jinping came to power in 2012, people were curious. He was largely an unknown quantity. Would he continue the reforms that Deng Xiaoping had begun almost 40 years earlier?

Xi soon made his priorities clear: reflecting on China’s 5000-year history and indelible contribution to world civilization, Xi made a call for China to return to its rightful place as a great power in world history. He evoked memories of the Middle Kingdom as a source of innovation, regional dominance, and trade. For Xi, China’s greatness hinges upon several concrete objectives: continued economic growth, a powerful military, and a strong social safety net.

This path places Xi at the center of the process. His plan doesn’t merely continue the path of reform and renewal of his predecessors. Instead, he is centralizing authority under his personal leadership, intensifying the role of the state in every aspect of Chinese life, creating a Great Wall of Regulations to tightly control the flow of culture and ideas to, from, and within society. And he wants China to have a much more expansive role in the world.

Xi is setting himself up to try to be a Great Leader – an historic figure who can lead China back to a place of National Greatness. China has been blessed and cursed with many “great” leaders over the years, from Deng to Mao to Yu the Great, and the role is fraught with risk: for the leader, for China, and for every country she has dealings with.

Source: Wikipedia

Which today means every country in the world.

Douglas R. Tengdin, CFA

Charter Trust Company

“The Best Trust Company in New England”

By |2018-04-30T16:42:52-04:00April 30th, 2018|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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