Hu Jintao and Barack Obama.
Hu Jintao and Barack Obama.

The rise of the East is shown to us in the pattern of history



Somebody usually gives me a great tome of a book for Christmas, and it regularly ends up as a coffee table ornament for a few months, then a doorstop, before it is retired to that section of the bookshelf marked: "Never to be read, but looks impressive."

I thought it was deja vu all over again a few weeks back when I unwrapped a 750-page hardback monster called Why the West Rules - For Now by a Stanford University professor called Ian Morris. I'll never get through that, I thought. But look how wrong you can be.

This week, with Hu Jintao, the Chinese president, visiting the US and every "expert" giving an opinion on the new rivalry between the two "superpowers", I've been watching smugly.

Because, thanks to Prof Morris, I know how the story ends: the Chinese, or rather eastern society in general, wins, the West loses, and everywhere else in between, such as the Middle East, is a winner or loser according to its proximity to the eastern and western "cores".

And I also know when it will happen. Prof Morris says that by the year 2103, eastern society, judged on a number of social, economic and cultural indicators, will overtake the West.

My first reaction on reading that date was one of relief. Most analysts say China will become the world's largest economy by 2030, and this week all sorts of military types have been wheeled out to warn of imminent Chinese aggression, in just the next decade or two.

But according to Prof Morris, westerners actually have a bit longer in charge and calling the shots in world economics and politics.

I haven't actually finished the book yet. I'm just at that interesting period of history where the Black Death (bubonic plague) has reduced the population of the world by between a third and a half, but affected the West more than the East, because of demography and social development.

When this horrible disease hit in the mid-14th century, the East had been in the ascendancy for nearly a millennium. While westerners were foolishly playing knights and maidens, and running off to the Crusades (which Prof Morris says probably raised global living standards via the exchange of technology between East and West), the Chinese were living in million-strong cities, using coal as their industrial fuel and building ships that could sail (maybe) to the Americas.

They had paper currency, gunpowder and a whole array of sophisticated agricultural techniques that made the West look primitive. And they had silk, which they sold to the West as its first luxury must-have, and in the process opened up the silk routes, accelerated the prosperity of the Chinese and enabled them to overcome the effects of the Black Death much faster than the West.

Prof Morris is full of fascinating little asides. The Mongols, under Ghengis Khan and his successors, were a force for good, too, after their initial orgy of rape and pillage. They believed, surprisingly, in religious diversity, and arranged a modus vivendi between the Christian West, (largely) Buddhist East and Muslim centre that further stimulated global commerce.

Centuries before Goldman Sachs or Google, the Mongols were the first proponents of globalisation.

One Mongol khan organised a grand debate between wise men from the three faiths, to prove in open discourse which was best. In the Mongol way, they served potent fermented yak's milk to the speakers, who soon lost the thread of their sophisticated arguments. The Christians began singing hymns, the Muslims reciting the Koran, while the Buddhists began to meditate. After more yak's milk, the Christians and Muslims joined the Buddhists in silent contemplation.

But like them, I have digressed. The point is that, according to Prof Morris, the inevitable triumph of the East in 2103 has little to do with the global financial crisis, US indebtedness, China's huge human and mineral resources or its exporting power, or even its growing military capability.

It is already written in the pattern of global history that the East will overtake the West then, and we westerners will not be able to do anything about it.

It is all to do with what Prof Morris calls "energy capture". He argues that development has been determined throughout history by the efficiency with which humans, from ape-men to homo sapiens, have been able to convert natural energy into methods for raising their own standards of living.

Fire, agriculture, fossil fuels have determined human progress in the past, and now nuclear and alternative energy forms will decide the future. The Chinese realise this, which is why they are buying up the world's resources faster than anybody else.

Just this week, amid a lot of the sinophobia sparked by Mr Hu's visit to Washington, one vastly significant fact emerged: in 2010, China spent more on projects, deals and acquisitions in the developing world than the World Bank. By US$110 billion (Dh404bn) to $103bn, China outspent the professional world developers.

So if eastern triumph in the development race is inevitable, what role should the Middle East play? Maybe the region should emulate the Mongols and try to bring harmony and understanding to the competitors.

Probably a good idea to take the fermented yak's milk off the menu though.

 

 

 

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

DRIVERS' CHAMPIONSHIP STANDINGS

1. Sebastian Vettel (Ferrari) 171 points
2. Lewis Hamilton (Mercedes-GP) 151
3. Valtteri Bottas (Mercedes-GP) 136
4. Daniel Ricciardo (Red Bull Racing) 107
5. Kimi Raikkonen (Ferrari) 83
6. Sergio Perez (Force India) 50
7. Max Verstappen (Red Bull Racing) 45
8. Esteban Ocon (Force India) 39
9. Carlos Sainz (Torro Rosso) 29
10. Felipe Massa (Williams) 22

The biog

Name: James Mullan

Nationality: Irish

Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)

Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”

Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”

MATCH INFO

English Premiership semi-finals

Saracens 57
Wasps 33

Exeter Chiefs 36
Newcastle Falcons 5

Fifa Club World Cup quarter-final

Kashima Antlers 3 (Nagaki 49’, Serginho 69’, Abe 84’)
Guadalajara 2 (Zaldivar 03’, Pulido 90')

If you go

The flights

The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings

The stay

Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.

 

Company name: Play:Date

Launched: March 2017 on UAE Mother’s Day

Founder: Shamim Kassibawi

Based: Dubai with operations in the UAE and US

Sector: Tech 

Size: 20 employees

Stage of funding: Seed

Investors: Three founders (two silent co-founders) and one venture capital fund

((Disclaimer))

The Liechtensteinische Landesbank AG (“Bank”) assumes no liability or guarantee for the accuracy, balance, or completeness of the information in this publication. The content may change at any time due to given circumstances, and the Liechtensteinische Landesbank AG is under no obligation to update information once it has been published. This publication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, Liechtensteinische Landesbank (DIFC Branch), Liechtensteinische Landesbank AG, or any of its group affiliates to make any investments or obtain services. This publication has not been reviewed, disapproved or approved by the United Arab Emirates (“UAE”) Central Bank, Dubai Financial Services Authority (“DFSA”) or any other relevant licensing authorities in the UAE. It may not be relied upon by or distributed to retail clients. Liechtensteinische Landesbank (DIFC Branch) is regulated by the DFSA and this advertorial is intended for Professional Clients (as defined by the DFSA) who have sufficient financial experience and understanding of financial markets, products or transactions and any associated risks.

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Arctic Monkeys

Tranquillity Base Hotel Casino (Domino) 

 

TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals

Scoreline

Swansea 2

Grimes 20' (pen), Celina, 29'

Man City 3

Silva 69', Nordfeldt 78' (og), Aguero 88'

Top financial tips for graduates

Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:

1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.

2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.

3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.

4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.

RESULTS

Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)

The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

First-round leaderbaord

-5 C Conners (Can)

-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);

-2 C Morikawa (US), M Laird (Sco), C Tringale (US)

Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)

Level B DeChambeau (US), J Rose (Eng) 

1 L Westwood (Eng), J Spieth (US)

3 R McIlroy (NI)

4 D Johnson (US)

Gulf Under 19s

Pools

A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
C – British School Al Khubairat, Abu Dhabi Harlequins, Dubai Hurricanes, Al Yasmina Academy
D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts

Recent winners

2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College

Stage 5 results

1 Tadej Pogacar (SLO) UAE Team Emirates 3:48:53

2 Alexey Lutsenko (KAZ) Astana Pro Team -

Adam Yates (GBR) Mitchelton-Scott - 

4 David Gaudu (FRA) Groupama-FDJ  0:00:04

5 Ilnur Zakarin (RUS) CCC Team 0:00:07

General Classification:

1 Adam Yates (GBR) Mitchelton-Scott 20:35:04

2 Tadej Pogacar (SlO) UAE Team Emirates 0:01:01

3 Alexey Lutsenko (KAZ) Astana Pro Team 0:01:33

4 David Gaudu (FRA) Groupama-FDJ 0:01:48

5 Rafał Majka (POL) Bora-Hansgrohe 0:02:11