Attention Economy


Thursday, March 3, 2022

The Rising Cost of Western Ignorance

Ukraine war shows West's declining understanding of the world
https://asia.nikkei.com/Opinion/Ukraine-war-shows-West-s-declining-understanding-of-the-world
William Bratton, previousl head of equity research, Asia-Pacific, at HSBC, notes:
If Western countries persist in viewing the world very much through the prism of their own ideologies, value and beliefs, then they should not be shocked nor surprised when developments do not accord with their expectations. Especially as this knowledge gap is asymmetrical because China understands the West far more than we understand it.
As Western influence wanes, its relative understanding of the rest of the world is being eroded. Those countries that are growing quickly are those we understand less.
As such, if Western countries want to avoid any more shocks like the one unfolding in Ukraine, then addressing these widening knowledge gaps has to be a priority, as well as a recognition that our values and priorities have significant temporal, spatial and economic components which not all countries will simultaneously share nor play by.