Gold is easy to get but not economic stability

April, 3, 2023

By Prof Samitha Hettige

Great China had so many natural resources. Thus the colonial powers didn’t want to let go China. If an opportunity is given again, USA would be the first to go & set camp. President of Ghana indirectly said that recently to the face of Vice President Harris during her visit to Africa.  Even Germany occupied a large area of Great China before WWI as a source of raw material during the industrial revolution. All took away the resources while the Chinese were kept asleep with opium. Prosperity wasn’t given to the Chinese on a platter. The BMICH was gifted to SL by the Chinese in 1973 when China was still a poor country. That was 50 years ago. The Chinese worked very hard to build the world’s second largest economy. That hard work doesn’t include any occupations or wars killing thousands of humans.

China has the world's 3rd largest gold mining facility in Shandong, where an estimated 4,500 of the world’s total 63,000 tonnes of un-mined gold is located (Chinese sources). Shandong province sits on the world’s largest earthquake belt (Circum-Pacific seismic belt). Some call it the “Ring of Fire". For over two thousand years the Chinese have been mining gold. Still they never sat on their golden 2000 years but worked hard since 1949. With the trade surplus they generated, they work with other countries with a win-win approach along the Belt & Road. The Japanese foreign minister visited China after a period of 3 years few days back at a time Japan is refusing to export semi conductors to China. The Chinese took it as an opportunity to produce same & be more self sufficient. Such are lessons for bankrupt populations which rest on 2000 years of golden history without any plans.

Brazil is a mega economy in South America. It’s a major partner of the BRI & BRICS. They trade with many countries in high volumes. It also attracts thousands of tourists due to its vast natural reserves etc. Recently Brazil decided to deal with China in Chinese currency Yuan without getting the US Dollar involved. Economically powerful ancient civilizations such as India, Iran, Russia & oil rich Middle East will also start trading with each other in their respective currencies without the US Dollar. The President of Ghana said it in the face. Ghana was also a showpiece colony of the British Empire. So was SL. The need of the hour is to jump through the Ring of Fire. One may say Ghana was rude. Others can be more polite. Win-win is wise to avoid a shipwreck.

(Views expressed are personal)