Economics, Democracy, & The New World Order | Danny Quah | TEDxKL

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The west traditionally have been dominating the worldwide economic climate. With the rise of China and Asia, how would the planet adjust with the new middle of economic climate remaining a non Western and European concentrate.

Danny Quah is Professor of Economics and International Enhancement at the London Faculty of Economics and Political Science, and Director of the Southeast Asia Centre at LSE’s new Institute of World Affairs. He had earlier served as LSE’s Head of Office for Economics and Council Member on Malaysia’s National Financial Advisory Council.
Quah is Tan Chin Tuan Going to Professor at the National College of Singapore, and lectures frequently at Peking College. He researched at Princeton, Minnesota, and Harvard, and was Assistant Professor in the Economics Office at MIT before becoming a member of LSE.
Quah gave the third LSE-NUS lecture in 2013, a TEDxLSE lecture in 2012, and the Inaugural LSE Big Concerns Lecture in 2011. His current exploration focuses on the shifting worldwide economic climate and the rise of the east.

This speak was given at a TEDx celebration using the TED meeting format but independently arranged by a neighborhood group. Master additional at http://ted.com/tedx

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15 Responses

  1. hmmm thats some sweet sweet chinese kewl aid
    Id wait to see how china survives its hyper inflation before flaunting its system. Its so corrupt its depressing…

  2. I partly agree with him. I come from India , the worlds largest democracy and a nation where ' liberalism ' is exercised quite heavily and I personally believe that actually hinders our economy . The issue is that the majority of people are illiterate and so the lack of a central authoritarian structure results is massive instability in a variety of socio-economic issues. For example , say the government wants to build a dam which will displace a community of 50 people . The media will rush to them , bring them in the spotlight and thanks to the public pressure , the project is canned. Now , answering the needs of 50 people resulted in the loss of billions . And that is the curse of a liberal democracy. And so , I believe that developing nations need to be a bit more centralised and authoritarian while growing ( And foreign investors will love that too , won't they )

  3. rl1416 says:

    It's amazing to hear a supposedly highly educated expert on economics and development recommend mainland China's system where human rights are routinely violated. Time will prove that he is wrong. Any government that does not promote freedom and rule of law such as property rights, including intellectual property, and a level playing field in business, politics and governance will lack entrepreneurs who create jobs, entrepreneurs like Bill Gates, Steve Jobs and Elon Musk who push the boundaries of innovation which in turn will ensure that their economy has a strong hold on markets that require new products and therefore assures it of sustainable growth. The US has these qualities. However, it suffers from the stranglehold of conservative Republicans that frown on taxes and redistribution of wealth via investments in excellent scientific research (remember how the internet came into existence?), schools and infrastructures and healthy, highly educated population that could have enabled its economy to expand further. Sadly, at present, the US is an unfortunate example and a poor ambassador of liberal democracy and capitalism. I hope it wakes up soon.

  4. I love how free market capitalism means the government subsidizing the mortgage market. Free markets were first blamed for discriminating against low income borrowers so the government subsidized the sub prime market only to watch it collapse. Then they blame banks for preying on the people the banks were previously accused of discriminating against. The government, not the free market, failed.

  5. Whats bad is when world leaders talk about Globalization and Economics as if they have insight, The speak as if the wealth disparity is causing a disconnect between governments, nationality, and foreign powers, The say commoners want equal distribution of wealth, That is false, Common people want fair, set and guaranteed wages to allow them to make a decent living and educate their children properly, They want free and open markets without those who advantaged using their leveraged positions to game the working world unfairly, The real problem is that the so called elites are seemingly under regulated, and unrealistically scutinized or properly audited by their governments, The majority do not want social systems that increasly leverage them into slavery. No nationalized banks, No state controlled media or socialized education systems, We simply want our tax debts reduced through proper taxes laws, proper wage controls, just and considerate oversight and equality. Intelligent national wealth investment and real efforts to broaden opportunities for prosperity to as many as possible. I bet you could make an algorith and plug in all the numbers, resource and production, development lvls, pops and current wealth distribution, work types and regional inflation average and such and it could spit out several hundred soultions to solve it. Yes, its that off. Still looks like cave men to me.

  6. SIN Bros. says:

    Direct democracy would be much better than chinese communism or what he refers to here as liberal democracy. Collectivism is good to a point, but people need to have real freedom and real choice to live happy fulfilling lives. Western nations are unlikely to happily accept such a system of government.

  7. Kamp Gallery says:

    This talk is full of many "inconvenient truths" for us "Westerners" yet at the same time a remarkably transparent reading on the ambitions of the Chinese Communist Party. What is so frightening is how thoroughly convinced the professor is of his convictions that democracy is a sham. And to those who have an appreciation for the ironies of history, how closely this agenda echoes that of Japanese imperialist theory of the 1920's and 30's. And of course delivered in Kuala Lumpur. How did that work out for you in the 1940's professor? Too bad you can't ask your great grandfather because he'd set you straight.

  8. Quinn Bailey says:

    What the fuck?? This is such an old and shitty argument . Having the right to vote for any representative and really any law is what a liberal democracy is, not authoritarians and tyrants that have to keep their people happy or else they'll revolt and replace such a bad system with a republic or representative democracy.This is Chinese propaganda. Thank you Ted Talks for helping to spread such bullshit.

  9. BrassyTack says:

    What a waste of time!!

  10. Shouldn't we decide the way the world ought to be run together? I understand the point he is making and I think this goes very deep into the Asian vales debate. But I don't think a liberal democratic economic order is a terrible thing. It's just needs to be balanced.

  11. jf7333 says:

    I just love the last part where he said that ASEAN+China+Japan are the majority of the world and any significant decision must be made by us.

  12. I want a copy of his map, "THE WORLD ACCORDING TO AMERICANS". Seriously….anyone know how to get one? Sometimes only humor will educate.

  13. I define economics as O.E.C3.D3. (Organization for Economic Crises, Chaoses, Catastrophies Disasters, Dichotamy and Delusion as history has proved in the 1930s, 1990s and 2008 and forseen to repeat with cosmic rhythm in the years to come.

  14. wouuuuuu its awesome dude 

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