Great economies are not built on the quicksand of stocks and bonds. Investments in stocks and bonds, otherwise called financial instruments, are mere derivatives of bigger economic structures, whether state-controlled or not. The more the knowledge institutions of a country continue to produce proficient labour, the more activities are created in the economy. That means, jobs are always begging for hands in all sectors of the economy. The more many hands are engaged, the more individual earnings and per capita income grow, also the GDP, foreign reserves, consumer index, and banks' vaults get brimming with lendable money.
Interest rates cascade because there is enough to lend out. Foreign reserves grow because quality labour force is producing competitive products. Quality exportable goods and services are magnets for international investors who bring in foreign currency into the local economy, putting much more into the money houses. Then, of course, a combination of virile local money market with valuable currency buffered by hefty foreign reserves solves all the riddles about exchange rate and standard of living.
All the long grammar about use and allocation of dollars, bureau De change or Change of Bureau or whatever they are called becomes an aberration in the economy
Those who think leadership is rocket science in this part of the world may cynically quip:' this is easier said than done.' But that has been the growth pattern of big Asian tigers that are calling the shots in global power games today. China is one of the most populous nations in the world, yet she has one of the most advanced standards of living in the world, in the first tier bracket with U.S., France, Britain, and Germany and in fact one of the big eight most industrialised nations. Chinese economy was not nurtured on trans nationalism.
Chinese businessmen, learning the ropes of free enterprise at the turn of the century adopted a strategy of forward-thinking, investing in technical manpower and resources in the exploitation of its vast array of solid mineral deposits, especially, iron and steel production. Firms built special training schools for staff for their line of businesses. They went about stealing technology secrets even from Washington, exploiting her openness and freedom of information culture.