World - The American, European or Chinese Dream?

In the 20th century the United States effectively marketed the American Dream – the idea that anyone, regardless of social or economic background, could achieve upward mobility, prosperity and success through hard honest graft. Americans largely bought into this idea and many immigrants poured into the US in search of the opportunity for making a better life. Some achieved success, enough to perpetuate the mythical status of the Dream.

Among some immigrant groups, particularly Asians, the American Dream has resonated. It would be simplistic and stereotyping to lump all Asian immigrants and Asian Americans in the same category, however.

A recent Pew report, entitled “The Rise of Asian Americans”, demonstrates Indian Americans’ successes in the US in terms of income, political satisfaction, etc., though it was also criticized for its uniform treatment of Asian and South Asian groups.

From Highbrow Magazine:

The Pew report noted that the Indian economic climate has shifted dramatically in recent years, which has led Indian Americans to be less positive about conditions in the home country. Almost 60 percent are dissatisfied with economic conditions in India, but reported high levels of satisfaction with the U.S. economic climate.

According to Pew’s findings, US Asians in general have the highest income levels, and are the most educated group in the country by far. Read the overview of the report here.

While the American Dream is largely spiritual or an intangible “feeling” for many, it has been closely linked to material wealth and American consumer culture – a culture that has become increasingly globalized in recent years. Real success rates have also prompted many to question the validity of the American Dream.

The European Dream: Challenging the American myth

In 2004 American author Jeremy Rifkin published The European Dream: How Europe’s Vision of the Future Is Quietly Eclipsing the American Dream, highlighting modern European successes. Rifkin cited (among other things) favorable economic conditions, wealth distribution, quality of life, literacy, homicide rates, market regulation and aspects of political life in the European Union in comparison with those in the US.

But this is 2012. Try asking many Europeans – especially those in Greece, Portugal, Spain and Ireland – about how the current model of the “European Dream” is working out for them. Come to think of it, ask Americans the same question.

Collective, inclusive, global: Make way for the “Chinese Dream”

Xi Jinping, the new General Secretary of the Communist Party of China, believes in the Chinese Dream, equating it with “the great renewal of the Chinese nation”.

As a whole, China is now the world’s second largest economy and a legitimate world power.

From Outlook India:

I believe that by the time when the Communist Party of China marks its 100th founding anniversary (2020), the goal to complete the building of a moderately prosperous society in all respects will be inevitably achieved.

–Xi Jinping

The General Secretary has addressed the democratic ideals of the Revolution and the development-centered goals of the post-Mao period. He spoke of how the pursuit of money has resulted in a “crisis of faith, integrity and credibility”.

Establishing a Chinese Dream – facilitated by China’s modernization, opening up to the outside world and sharing with it – confronts the aforementioned crisis and aims to build a “friendly, harmonious society”.

Sounds great, but how inclusive and how collective has China’s economic growth been? How democratic are its present and future? What about a Chinese Dream that chimes with what the people want, rather than the economic goals of the central and provincial governments? We can see from recent protests, how many Chinese are not happy with the environmental problems that development brings and their lack of input in what happens in their own communities.

Read more on the Chinese Dream in the People’s Daily.

 Graham Land 

http://asiancorrespondent.com

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Vietnam - Trying to live the American dream

Finding fast routes into the US market remains a vexed question.

With around 310 million multi-cultural population, per capita GDP averaging $48,000 per year and less demanding consumers compared to those in EU and Japan, the US was a potential export market not only to Vietnamese firms but also to businesses in countries around the world, said Ministry of Industry and Trade (MoIT) American Market Department head Nguyen Duy Khien.

In 2011, the US spent more than $2,300 billion on importing commodities, almost double Germany’s total import value and triple that of Japan.

With such a tremendous demand and lucrative market pattern, US market remained one top target to any exporter, said Vietnam Trade Promotion Agency’s Export Support Centre director Nguyen Xuan Duong.

Khien said Vietnamese exports bound for the US market faced stiff competition, particularly from Chinese-made items in respect to key export items like footwear, textiles-garments, electronic, seafood, plastic and wooden products.

Besides, high transportation and transaction costs, long travel distance and fewer tax incentives are other disadvantages Vietnamese exports are suffering. In addition, local firms are mostly small in size with little brand value.

“Around two million US-based overseas Vietnamese (Viet Kieu) community will be an important bridge to deepen the presence of made-in-Vietnam products in US market,” said Duong.

Handicraft maker Doi Moi Company is one typical example of making an effective use of Viet Kieu support to bring its products to US consumer hands.

“Through support by some Viet Kieu, from 2002 our company began to make a foray into US market with initial modest export value of $200,000 per year,” said the company’s director Doan Van Lan, adding that to hike export value, the company made efforts to better quality and appearance, partake in US specialised fairs and create product differences to boost export value.

Trade experts warned firms to avoid using price discounts when exporting to US market since the US applied stringent anti-dumping regulations and US competent agencies often imposed severe penalties on violated exporters.

Khien warned Vietnamese export firms to be cautious because made-in-Vietnam export textiles and garments might be involved into anti-dumping lawsuits levied on Chinese goods and incur more stringent export requirements together with footwear products. Accordingly, they might be required to show third party’s certification.

Textiles and garments take the lead among top export earners to US market with total export value surpassing $6.6 billion in 2011, accounting for around 43 per cent of the sector’s total export value, preceding footwear, seafood and wooden furniture.

Hai Yen | vir.com.vn

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