Had the pleasure of listening to Dr. Jeffrey D. Sachs, considered to be one of the leading economic advisors of his generation, as he gave a short talk on the modest subject "China and the World".

Quite refreshing to hear his thoughts on China’s involvment in Africa, arguing that it’s probably the best thing that happened to Africa in years. Why? Dr Sachs listed three challenges for Africa, where they can learn from China’s experience as a developing country.

Green revolution         

Health revolution

Connectivity revolution

All these three fields are based on public investment. China’s development was based on the same three pillars. They turned the agriculture around, provided healthcare and have spent enormous amount of energy to connect all the regions in China.  But for China, private investment and globalization was the final boost. Perhaps, Sachs argues, can China now provide this investment in Africa.

Dr. Sachs also welcomed China’s involvement in Africa as healthy competition to Europe and the States, who both spent so much time in Africa without really achieving anything. Don’t shoot the messenger, that’s what the man said.

And you gotta listen to a guy who managed to turn a book entitled "The End of Poverty" into a major bestseller.

Reporting in Chinese media reminds me of an eternally optimistic mum, commenting every failure, hardship or disappointment of her children with a cheerful ‘Well! I’m sure it’s all for the best and wasn’t the weather lovely after all?’

Amused myself by comparing the headlines in International Herald Tribune and China Daily after the US-China economic talks. ‘Limited Steps on Opening Chinese’ market vs. ‘Strategic Talks a Complete Success’. Guess which is which? 

The Americans are still frustrated over the slow appreciation of the Yuan, claiming that its value is kept artificially low to stimulate Chinese exports and hinder imports to China from the US and Europe. Then again, the Economist argues in its latest issue that a faster appreciation of the Yuan would do more harm than good to the US economy.

For even if Hollywood could sell their DVDs at full price in China, who would be able to afford them? And who would it hit the hardest if WalMart has to raise their prices as the Yuan goes up?