A whole new world out there

Saturday, 19 July 1997

History is happening all around us. Have you noticed?

JULY 1997 looks set to pass with a whimper rather than a bang. Yet so much has happened in the world this month without us really noticing the impact on history.

The United States Supreme Court ruled that the Internet cannot be censored. Pathfinder landed successfully on Mars. And my daughter received her first letter.

Dear Aura

In three days, something relatively historic will take place in the country where I live: Hong Kong will no longer be a Crown Colony under British rule, but will return to the sovereignty of the People's Republic of China. It will keep its name, Hong Kong, but to it will be added "Special Administrative Zone".

Hong Kong became part of the British Empire as a result of a series of wars, known as the "Opium Wars", which China lost. At that time, the British signed some treaties with the Chinese (known as unequal treaties) by which the island of Hong Kong would be leased to Britain for 99 years. It has been a little longer than 99 years, but after a great deal of discussion and argument, the British and Chinese leadership thrashed out a convoluted plan. In 1984, they signed what is known as the Joint Declaration, which allows for the reversion of sovereignty under a "One Country Two Systems" scheme.

I know that this may be of no concern to you right now, but just keep this envelope as a souvenir. Many years from now, if you become a historian like me, you might have interest in what occurred. If not, and you're lucky, this last post mark of the Crown Colony of Hong Kong may have some value to someone.

Ask your daddy if you want to know anything else, especially if you want to know who I am.

from Aunty Lakshmi

I declined to let Aura know that the writer, Dr L K Daniel, was my high school sweetheart whom I recently rediscovered after more than a decade through the wonders of the Internet.

Instead, I showed Aura the fireworks over Tiannemen Square and Victoria Harbour announcing to the world that the new economic superpower had come of age.

Care to test your knowledge? There are very few trillion dollar economies in today's world. The United States, with a $7,2477 trillion Gross Domestic Product, is leader by far.

But with the addition of Hong Kong's $152,4 billion to its own GDP, second placed China has widened the gap between itself and third-placed Japan to a staggering trillion dollars.

(Like I told Aura, that's a very very very big number.)

Europe has four trillion dollar economies; Germany, France, United Kingdom and Italy.

But India at $1,4 trillion is almost neck and neck with Germany and bigger than the other three European giants. And, with a growth rate more than double that of Germany, India will certainly overtake this year.

India? An economic superpower? Better believe it.

The Russians are way behind at $796 billion, and with negative growth this year will almost certainly be overtaken by Mexico's $721,4 billion.

South Korea at $590,7 billion is ahead of the Netherlands at $301,9 billion. Our own $215 billion is behind Taiwan, Iran, and Pakistan, but ahead of Ireland, Denmark, Saudi Arabia and Israel.

Of course there's lots more to prosperity than GDP. Translated per capita, the pecking order changes quite dramatically.

Still, there's food for thought. If one measures clout in terms of sheer purchasing power, then the Eurocentric view of the world has finally ended.

The human race is just beginning...