A Fireside Chat and National Games
Earlier this month, I signed up for what SCMP billed as a Fireside Chat, featuring an informal exchange on economic transformation on a changing world, with insights from Jeffrey Sachs on growth, innovation, and global challenges. The event was moderated by Chow Chung-yan, Executive Editor of SCMP and took place on Monday 3 November in the morning. Professor Sachs was a very much sought after speaker and commentator in these areas, and coming immediately after what the media described as a truce between the world’s two greatest powers and a face-to-face meeting between the two Presidents in the fringe of APEC, 2025 in Korea, his insights would be of particular significance. I had always enjoyed the Professor’s candid remarks; which was why I signed up early for the occasion; and I also wanted to find out who would attend such forum. I met a few household characters, but I only met one friend, with whom I sat throughout.
Now, Jeffrey Sachs is an American economist and public policy analyst at the Columbia University who turned 71 on 5 November 2025 – meaning that he was still 70 years young when he was interviewed – and he was late for 30 minutes plus because he was held up at another meeting. In response to the host’s first question on how the world should deal with recent changes, now that it appears there are only two powers that matter, Sachs quickly said that the United Sates should have come to the realization that they were losing out in clinging on the delusions that America could retain its supremacy, such delusions having begun some ten years back. As regards whether a G2 World was a viable option, Sachs instantly referred to the views of his friend and American political scientist John Joseph Mearsheimer (b. 1947, now 47) as outlined in his famous 2001 book The Tragedy of Great Power Politics in which his friend argued that anarchy is a feature of the international system. Sachs contended that the G2 concept was not viable primarily because China and America together account for only 22% of world population. Specifically, America accounts for only 4% and it is therefore unrealistic to begin to think that it can run the world. Meanwhile, it appears that China’s share of the world economy has peaked and could be falling with declining population, implying that other regions and countries would gain more dominance. For example, China’s population could fall below one billion while India could rise to 1.7 billion. Besides, Russia and Africa must be factored into the equation. It follows that the concept of one power dominating could not survive, even if it was a benign one. China in the Ming Dynasty was an example of a regional hegemony and a benign one which lasted for many years. In contrast, America might have operated as a benign superpower for two years at most.
Sachs went on to cite two reasons why regional hegemony wouldn’t work. First, no country or region wants to be ruled by another; and second, power corrupts. Citing his friend Mearsheimer, Sachs specifically cautioned the difference between sphere of security and sphere of influence and advised that each region should learn to practice best behaviour and to respect each other, such that, for example, the United States should not encourage Ukraine to join NATO. Sachs also urged mutual respect amongst major powers and the practice of good neighbour policies. He was upbeat on Hong Kong’s unique position in the Greater Bay Area for innovation and technology, noting that the GBA has a distinct advantage over the Silicon Valley in that Shenzhen and the GBA are in control of manufacturing whereas the Silicon Valley is not.
Turning to the 15th National Games hosted jointly by Guangdong, Hong Kong and Macau from 9th to 21st November, it was the first time the two SARs were involved. Many cities in Guangdong offered well equipped venues, so did Hong Kong. The events generated plenty of media coverage locally and we learnt a lot more on the events held in Hong Kong, particularly on cycling, triathlon and fencing. The local medalists certainly attracted substantial following and generated much interest and enthusiasm in the games. Su took the opportunity to buy tickets on-line for the fencing finals at the Kai Tak Sports Park Arena. It was our first visit to the Arena, and we thoroughly enjoyed the experience. Watching the games live is quite different from watching them at home or on the giant TV at local shopping malls to which we also went, once again, for the experience. It is interesting that coaches of winners are recognized and awarded medals at the Prize Presentation Ceremonies. Great initiatives of the organizers. Let’s hope that other Games will follow.
November turned out to be a rather busy month for us. We went to a few reunion lunches and dinners and met up with some old friends, wining and dining all the time. We also joined my Rotary Club’s three-day trip to Shantou, staying in a rather posh new hotel, the Marriot. Chiu Chow was now famous for its food varieties, and we had a great time consuming shamelessly so many delicacies and great cuisine.
Next week promises to be another busy week with a chockablock diary. I have signed up every evening for eating out, Monday through Sunday in the lead up to a medical appointment the following week.
