Just like the shipyards are churning out modern, new fighting vessels.
PLAN Type 52C, Lanzhou AEGIS-like destroyers
Posted on 10/01/2004 5:56:53 PM PDT by TigerLikesRooster
Students were indeed drawing from popular resentment. There were many laid-off workers at the time, they joined the protest. One guy was even interviewed by ABC News at the time, bitterly complaining of Chinese government. Students were just most visible articulate symbols. This one was originally triggered by the death of Hu Yao-bang, the sacked General Secretary, who was thought to be too liberal by communist establishment.
China indeed tries to plan for the long haul. However, whatever long-range plan they have, the popping of big Chinese bubble could derail their wonderful plans. I think that they do not fully grasp the potential impact of such event. After all, they are still new to market economy and run-away-boom-cycle has been always the last to be understood, usually only after the economy suffering a financial debacle. Even U.S. with its long experience has trouble addressing financial problems in time. Chinese inexperience(ignorance) with the boom cycle may blur their vision. Currently, they believe that the economy will continue to grow unabated. They do have all kinds of grand plans to carry out.
When the down cycle comes, which could be big, I think that Chinese people are psychologically ill-prepared to handle it. Chinese mass are not the push-overs in such a situation. The final years of Ming Dynasty was one example. Massive peasant riots everywhere. Tienanmen Uprising was really puny in comparison, triggered by ordinary recession. Central government could put riots down eventually, but at a great cost. Things won't be the same again.
I outline this kind of scenario, because current Chinese boom is over the top, while many structural problems of the economy(finance) are being overlooked. Both Chinese and foreigners investing in China were buying a huge China myth. This myth is bigger than Japan myth of late 80's. The bigger the myth, the more willing they are to ignore problem, and stay focused on the myth. The size of the myth worries me.
Just like the shipyards are churning out modern, new fighting vessels.
"the fact that I have yet to see a junkyard anywhere for retired vehicles."
Our junkyards are being emptied to build these Chinese cars. Don't know what the price of scrap is right now, but much of it is going east.
Yeah, much of their industry are built with dual use in mind. Once Japan was the Prussia of the East. Now it is China.
I pray we are up to facing them down. Though difficult, it would be better and less costly to do it now, rather than later when they have fully matured.
RE: the Chinese will pull out the carpet and go into business for themselves.
Indeed, and at that point the U.S. taxpayer-backed World Bank's Multilateral Investment Guarantee Agency (MIGA) and U.S. taxpayer-backed agencies like OPIC will come running to the rescue as the multi-national corporations suddenly decide that they are Americans after all.
"Patriotism in the Boardroom," describes the responses by American corporations to Ralph Nader's (yes, Ralph Nader) request that the corporations include the "Pledge of Allegiance" in their stock holders' meetings. The few that responded said "No way! We're an international corporation and it might offend our international friends and associates."
http://www.buchanan.org/pa-98-0630.html
Well, having the U.S. taxpayers cover their losses just might, might but only if they have to to get the money, get the corporations to at least say the "Pledge of Allegiance."
Here are the ones that offer a revealing look at the Chi-coms and at what ails them at a macro level:
> "Their economy is expendable, so [are] their people, and so [are] foreign investors, but not their long range plans." #14
> "More and more Western businesses are discovering the true depths of Chinese inscrutability!" #4
> "And then the guys in charge in Peking say 'So what? A few million dead people here or there don't signify'." #10 (Just statistics to Commies, as always.)
> "if they [the Chi-coms] can get the expertise and the facilities for free(heck, even making money along the way) and suffer [nothing more than] a slowdown . . .they would be happy." #12
> The "current Chinese boom is over the top, while many structural problems of the economy(finance) are being overlooked. Both Chinese and foreigners investing in China were buying a huge China myth. This myth is bigger than Japan myth of late 80's." #21
Sorry if I missed any.
Now where are those pesky "free tradin'" Freepers who use the liberals' patented name-calling as a way to "refute" thoughtful arguments?
They can raise prices in the American market.
Which is what the American pharmaceutical companies do when the WTO forces them to sell their drugs to "least developed countries" like China, at below cost.
"Don't know what the price of scrap is right now, but much of it is going east."
Indeed. I read somewhere that China is the number one importer of scrap from the United States. It is quite possible that it is being used to support automotive manufacturing, but I suspect that a larger part of it goes towards military purposes.
Hardly fair to assume that trade with a communist country can come anywhere near being called 'free-trade'. Free countries can maximize utility in trades when governments do not stand in the way.
That the Chinese govt. is commie simply means that their people will have to endure a dirt-poor existence while the elitists enjoy their limo rides as they build huge trade surpluses.
We could enjoy the same misery here with a vote for Kerry (with Hillary in the wings) as they would 'allow' for only so much capitalism to take place under their watch. Come to think of it, perhaps the best way to fight communism is to become communist and beat them at their own collectivism. May the best collectivist win, and all that.
Yet, the termite/ant colony mentality that predominates in Asia, with it's simbiotic cousin communism, may yet prove to be the most efficient means of production. Missing of course, is the single greatest motive: that being innovation or inventiion which are born of incentive which happens to be sole heir to capitalism. How they ever invented gun powder is beyond me. That they'll ever be so inventive in the future remains questionable. I doubt it as the incentives aren't there and I've seen termite mounds. Condos with real attitude.
"The Chinese are much more prone to do business in a way that today Europeans and Americans do not accept - paying bribes and all kinds of bonuses under the table,"
--oil industry analyst Gal Luft
They can't accept it if they are American because of the Foreign Corrupt Practices Act.
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