My Take | The views of Bill Overholt could not be more timely and relevant
The banker and author, who died recently aged 79, believed that fears and myths must be rejected, calling for the creation of a “coalition of hope”
Tensions between the US and China show no sign of abating as the world awaits the return of president-elect Donald Trump.
Amid all the fiery rhetoric, thoughtful, objective, and insightful views, supporting communication and peaceful coexistence are needed. Sadly, one such voice has been lost, with the recent death of William “Bill” Henry Overholt at the age of 79.
The trailblazing banker, researcher, adviser and author enjoyed a long and distinguished career with Asia at its core.
Many will remember him for his groundbreaking book: The Rise of China – How Economic Reform is Creating a New Superpower. Published in 1993, it challenged widely held perceptions the country would stagnate like the Soviet Union. The book, which explained why China’s position was different, was controversial and fuelled much debate. It proved to be farsighted.
Overholt, a contributor to the South China Morning Post’s opinion pages, will be remembered in Hong Kong, a city he lived in for 18 years and loved. He provided perceptive assessments of its fortunes, defending the city in 1995 when Fortune magazine declared that it was dying.
Born on March 7, 1945, Overholt graduated from Harvard and earned a PhD in political science from Yale University. His family say a gap year, in which he travelled widely, forged his commitment to international development.
Overholt spent nine years at US think tank the Hudson Institute in the 1970s. While there, he helped found the influential periodical Global Political Assessment. In 1980, he joined Bankers Trust, then one of the biggest US banks, and moved to Hong Kong in 1985 to head its Asia Research team. While at the bank, Overholt wrote The Rise of China, predicting that the country’s economic reforms would dramatically drive growth and lead it to become a major player on the world stage.
