「中國是真正的亞洲病夫」一文在說甚麼?
「中國是亞洲真正的病夫」,副標題為「它的金融市場可能比野生動植物市場更加危險」 是美國保守派學者、專欄作家沃爾特·羅素·米德 (Walter Russell Mead) [註一]
於2月3日在《華爾街日報》(Wall Street Journal,WSJ) ) [註二]
發表文章的標題。由於「東亞病夫」是鴉片戰爭以來,中國人力圖洗刷由西方殖民主義者加諸的惡名,在新冠病毒正在東亞肆虐,中國窮舉國之力抗疫的當頭提出,牽動極為敏感神經,自然掀起軒然大波。雖然其他媒體指出,美國主要報紙上出現的許多頭條新聞標題通常是編輯而不是作家選擇的,仍有超過十一萬人迅速在美國白宮的聯署網站《我們的人民》 (We the People)上聯署譴責「《華爾街日報》上的種族歧視文章標題」(Racially
Discriminatory Article Title on Wall Street Journal) ﹔中國政府因不滿《華爾街日報》刊出標題為「中國是真正的亞洲病夫」之評論,並拒絕道歉,19日宣布吊銷3名《華爾街日報》駐北京記者的記者證。另一方面,也有不少西方媒體對該文叫好與聲援。[註三]
Mead到底說了甚麼呢? [註四] 大體而言,並無新意。一方面抨擊中國政府系統化失靈,對新冠病毒爆發,處置不當,導致疫情迅速傳播到世界各地,譴責中國當局仍在努力掩蓋問題的真實規模。另一方面,重申「中國經濟即將崩潰」 論調。其中不少警語,雖然失之一廂情願,值得大家思索玩味美國一部分有相當影響力的人想法與看法:
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新冠病毒爆發提醒,一個已經習慣於思考中國勢不可擋的崛起的世界人們,沒有任何強權,即使強如北京,也不能認為情況不會有變。
l
新冠病毒流行最重要的長期結果似乎是加強全球公司供應鏈 「去中國化」的趨勢。在新的貿易戰的威脅下以及持續的公共衛生憂慮,將使供應鏈的多元化開始顯得明智。
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如果存在像伊波拉這樣致命的疾病和像新冠病毒一樣迅速傳播的疾病,美國應如何應對?需要建立什麼樣的國家和國際體系來最大程度地減少發生這種大規模災難的可能性?
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從長遠來看,中國的金融市場可能比中國的野生動植物市場更加危險。中國面臨一個大規模的經濟調整時機已經成熟。即使是很小的初始衝擊,也可能導致燎原大火。
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中國的實力雖然令人印象深刻,但仍然脆弱。致命病毒或金融市場傳染病隨時可能改變中國的經濟和政治前景。
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現在許多人擔心新冠病毒將成為全球大流行病。中國經濟融解的後果將同樣的全面不可遏制。世界各地的大宗商品價格將暴跌,供應鏈將崩潰,世界各地幾乎沒有金融機構能夠逃脫這種重擊。中國和其他地區的復蘇可能會很緩慢,社會和政治影響可能會非常嚴重。
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如果北京的地緣政治足跡因此而萎縮,全球後果可能也令人驚訝。如果美國唯一可能的大國競爭對手退出這場比賽,有人會期望單極化的回歸。然而,在美國政治世界中,孤立而不是交往可能會湧現。如果中國的挑戰消失,許多美國人可能會認為美國可以安全地減少其全球承諾。
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到目前為止,二十一世紀一直是黑天鵝時代。從9/11到Trump總統當選及英國脫歐,低概率,高影響力的事件重塑了世界秩序。那個年代還沒有結束,在還沒有到來的黑天鵝中,新冠病毒的流行不太可能是在中國最後出現的黑天鵝。
[註一] Walter Russell Mead 現任美國Bard College 的外交與人文學教授,並為WSJ專欄作家與保守派智庫Hudson Institute學者。根據Mead給他以前在耶魯大學的一名學生的電子郵件,他沒有選擇標題,也沒有批准標題。Mead隨後將耶魯大學學生的電子郵件轉發給了《華爾街日報》。
[註二] 《華爾街日報》(Wall Street Journal) 是美國具有影響力的報刊,報導側重金融、商業領域報導的日報,是美國發行量最大的報紙之一。
[註三] 例見布雷特·斯蒂芬斯(Bret Stephens),「北京的大躍退」(Great
Leap Backward),《紐約時報》 (2020年 2月20日)。
[註四] 後附譯文與原文。
[譯文] 「中國是真正的亞洲病夫」-- 「它的金融市場可能比野生動植物市場更加危險」
沃爾特·羅素·米德
《華爾街日報》,2月3日
本週很明顯是因為傳人的蝙蝠病毒,使得企圖在世界舞台大顯身手的中國氣焰大減。儘管中國當局奮力控制疫情並重新開始發展經濟,但它提醒,一個已經習慣於思考中國勢不可擋的崛起的世界人們,沒有任何強權,即使強如北京,也不能認為情況不會有變。
我們不知道新的冠狀病毒將有多危險。有跡象表明,中國當局仍在努力掩蓋問題的真實規模。但在此刻,該病毒似乎比Ebola或SARS等疾病的病原體更具傳染性,但致命性卻要低得多,儘管一些專家稱SARS和新冠病毒具有同樣的傳染性。
中國對危機的最初反應並不令人印象深刻。武漢市政府是為自保而掩蓋事實。國家主管部門雖做出了積極回應,但目前看來效果並不佳。中國的城市和工廠正成封閉狀態;該病毒繼續傳播。我們可以希望,當局能夠成功地遏制這種流行病並治療其病患,但是他們迄今為止的表現已經動搖了國內外對中國共產黨的信心。在北京,有關美國拒絕最近在中國待過一段時間的非公民入境的抗議。不能掩蓋使得該流行病迅速傳播各地都是在武漢和北京做出顢頇決定的事實。
專家們預計,新冠病毒流行的最可能的經濟後果將是第一季度中國經濟增長率出現短暫而急劇的下降,並隨著疾病的消退而恢復。最重要的長期結果似乎是加強全球公司供應鏈「去中國化」的趨勢。在新的貿易戰的威脅下以及持續的公共衛生憂慮,將使供應鏈的多元化開始顯得明智。
新冠病毒流行及其前身(例如SARS,伊波拉和MERS)等事件對我們的系統進行了測試,並迫使我們考慮以前無法想像的問題。如果存在像伊波拉這樣致命的疾病和像新冠病毒一樣迅速傳播的疾病,美國應如何應對?需要建立什麼樣的國家和國際體系來最大程度地減少發生這種大規模災難的可能性?
流行病也使我們思考地緣政治和經濟假說。我們已經看到,在期盼這將是對中國經濟增長的短暫衝擊情況下,金融市場動盪不安,大宗商品價格下跌,而如果(也許是為應對流行病,但更可能是在大規模金融崩潰之後)中國的經濟受損於長期更緩慢的成長,將會發生什麼?這種事態發展對中國的政治穩定,對世界其他國家的態度以及對全球力量平衡的影響如何?
從長遠來看,中國的金融市場可能比中國的野生動植物市場更加危險。鑑於數十年來由國家主導的貸款的累積成本,地方官員與當地銀行同謀的大規模的貪瀆,巨大的房地產泡沫以及廣大的工業產能過剩,中國面臨一個大規模的經濟調整時機已經成熟。即使是很小的初始衝擊,也可能導致燎原大火,因為所有虛假的價值,膨脹的期望和資產分配不當都將內爆。如果真是這樣,那麼,中國的監管機構和決策者是否具備技能或政治權威將損害減至最小是很令人懷疑的,尤其是因為這將給予政商一體,關係良好的人財富造成巨大損失。
我們不知道如此大規模的災難何時或甚至是否會發生,但是地緣政治和國際事務的學生(更不用說商業領袖和投資者)要記住,中國的實力雖然令人印象深刻,但仍然脆弱。致命病毒或金融市場傳染病隨時可能改變中國的經濟和政治前景。
現在許多人擔心新冠病毒將成為全球大流行病。中國經濟融解的後果將同樣的全面不可遏制。世界各地的大宗商品價格將暴跌,供應鏈將崩潰,世界各地幾乎沒有金融機構能夠逃脫這種重擊。中國和其他地區的復蘇可能會很緩慢,社會和政治影響可能會非常嚴重。
如果北京的地緣政治足跡因此而萎縮,全球後果可能也令人驚訝。如果美國唯一可能的大國競爭對手退出這場比賽,有人會期望單極化的回歸。然而,在美國政治世界中,孤立而不是交往可能會湧現。如果中國的挑戰消失,許多美國人可能會認為美國可以安全地減少其全球承諾。
到目前為止,二十一世紀一直是黑天鵝時代。從9/11到特朗普總統當選及英國脫歐,低概率,高影響力的事件重塑了世界秩序。那個年代還沒有結束,在還沒有到來的黑天鵝中,新冠病毒的流行不太可能是在中國最後出現的黑天鵝。
China Is the Real Sick Man of
Asia
Its financial markets may be even
more dangerous than its wildlife markets.
By Walter Russell Mead
Feb. 3, 2020 6:47 pm ET
The mighty Chinese juggernaut has
been humbled this week, apparently by a species-hopping bat virus. While
Chinese authorities struggle to control the epidemic and restart their economy,
a world that has grown accustomed to contemplating China’s inexorable rise was
reminded that nothing, not even Beijing’s power, can be taken for granted.
We do not know how dangerous the
new coronavirus will be. There are signs that Chinese authorities are still
trying to conceal the true scale of the problem, but at this point the virus
appears to be more contagious but considerably less deadly than the pathogens
behind diseases such as Ebola or SARS—though some experts say SARS and
coronavirus are about equally contagious.
China’s initial response to the
crisis was less than impressive. The Wuhan government was secretive and
self-serving; national authorities responded vigorously but, it currently
appears, ineffectively. China’s cities and factories are shutting down; the
virus continues to spread. We can hope that authorities succeed in containing
the epidemic and treating its victims, but the performance to date has shaken
confidence in the Chinese Communist Party at home and abroad. Complaints in
Beijing about the U.S. refusing entry to noncitizens who recently spent time in
China cannot hide the reality that the decisions that allowed the epidemic to
spread as far and as fast as it did were all made in Wuhan and Beijing.
The likeliest economic
consequence of the coronavirus epidemic, forecasters expect, will be a short
and sharp fall in Chinese economic growth rates during the first quarter,
recovering as the disease fades. The most important longer-term outcome would
appear to be a strengthening of a trend for global companies to “de-Sinicize”
their supply chains. Add the continuing public health worries to the threat of
new trade wars, and supply-chain diversification begins to look prudent.
Events like the coronavirus
epidemic, and its predecessors—such as SARS, Ebola and MERS—test our systems
and force us to think about the unthinkable. If there were a disease as deadly
as Ebola and as fast-spreading as coronavirus, how should the U.S. respond?
What national and international systems need to be in place to minimize the
chance of catastrophe on this scale?
Epidemics also lead us to think
about geopolitical and economic hypotheticals. We have seen financial markets
shudder and commodity prices fall in the face of what hopefully will be a
short-lived disturbance in China’s economic growth. What would happen if—perhaps
in response to an epidemic, but more likely following a massive financial
collapse—China’s economy were to suffer a long period of even slower growth?
What would be the impact of such developments on China’s political stability,
on its attitude toward the rest of the world, and to the global balance of
power?
China’s financial markets are
probably more dangerous in the long run than China’s wildlife markets. Given
the accumulated costs of decades of state-driven lending, massive malfeasance
by local officials in cahoots with local banks, a towering property bubble, and
vast industrial overcapacity, China is as ripe as a country can be for a
massive economic correction. Even a small initial shock could lead to a massive
bonfire of the vanities as all the false values, inflated expectations and
misallocated assets implode. If that comes, it is far from clear that China’s
regulators and decision makers have the technical skills or the political
authority to minimize the damage—especially since that would involve enormous
losses to the wealth of the politically connected.
We cannot know when or even if a
catastrophe of this scale will take place, but students of geopolitics and
international affairs—not to mention business leaders and investors—need to
bear in mind that China’s power, impressive as it is, remains brittle. A
deadlier virus or a financial-market contagion could transform China’s economic
and political outlook at any time.
Many now fear the coronavirus
will become a global pandemic. The consequences of a Chinese economic meltdown
would travel with the same sweeping inexorability. Commodity prices around the
world would slump, supply chains would break down, and few financial
institutions anywhere could escape the knock-on consequences. Recovery in China
and elsewhere could be slow, and the social and political effects could be
dramatic.
If Beijing’s geopolitical
footprint shrank as a result, the global consequences might also be surprising.
Some would expect a return of unipolarity if the only possible great-power
rival to the U.S. were to withdraw from the game. Yet in the world of American
politics, isolation rather than engagement might surge to the fore. If the
China challenge fades, many Americans are likely to assume that the U.S. can
safely reduce its global commitments.
So far, the 21st century has been
an age of black swans. From 9/11 to President Trump’s election and Brexit,
low-probability, high-impact events have reshaped the world order. That age
isn’t over, and of the black swans still to arrive, the coronavirus epidemic is
unlikely to be the last to materialize in China.