Advertisement

Opinion | What does the popular language of the day say about the world’s economies?

Our writer previously chose to learn Spanish and Japanese, thinking matching economies would be safe bets against economic collapse. This time he is playing safe and sticking with Mandarin

Reading Time:4 minutes
Why you can trust SCMP
Pedestrians walk in a mall in Shenzhen. Growing consumption remains paramount to China’s future economy. Photo: AFP

When I was at school , I chose Spanish as my language option.

Advertisement

Spanish, I was told, was spoken by more countries in the world than any other, was soon to overtake English as the primary language in the United States, and reflected the broader excitement around Latin America’s then soaring economic growth.

After some five years of study – during which I mastered the phrase “¿Dónde está la gasolinera?”, allowing me at least to fill the car with petrol – Spanish and I parted company on not altogether friendly terms, after I completely blew my exams.

Coincidently, the Latin American economies also blew up around the same time following a debt and default binge, the effects of which, arguably, the region still suffers.

Regular readers may have observed that Credit Suisse’s John Woods is possibly more optimistic than many in China’s ability to transition to a slower growth trajectory driven largely by consumption. Photo: AP
Regular readers may have observed that Credit Suisse’s John Woods is possibly more optimistic than many in China’s ability to transition to a slower growth trajectory driven largely by consumption. Photo: AP
Advertisement

Chastened, I went to university and decided instead to learn Japanese. Japan in the 1980s, I was told, was on top of its game and was about to buy the world. It had just bought Australia and Southeast Asia, and was busy buying up large chunks of the US.

Advertisement