READ FOR YOURSELF IF YOU FIND THE OP-ED TO BE RACIST AGAINST CHINESE:
https://www.wsj.com/articles/china-is-the-real-sick-man-of-asia-11580773677
TITLE: China Is the Real Sick Man of Asia
Its financial markets may be even more dangerous than its wildlife markets.
by Walter Russell Mead
(EXCERPT)
Epidemics also lead us to think about geopolitical and economic hypotheticals. We have seen financial markets shudder and commodity prices fall in the face of what hopefully will be a short-lived disturbance in China’s economic growth. What would happen if—perhaps in response to an epidemic, but more likely following a massive financial collapse—China’s economy were to suffer a long period of even slower growth? What would be the impact of such developments on China’s political stability, on its attitude toward the rest of the world, and to the global balance of power?
China’s financial markets are probably more dangerous in the long run than China’s wildlife markets. Given the accumulated costs of decades of state-driven lending, massive malfeasance by local officials in cahoots with local banks, a towering property bubble, and vast industrial overcapacity, China is as ripe as a country can be for a massive economic correction. Even a small initial shock could lead to a massive bonfire of the vanities as all the false values, inflated expectations and misallocated assets implode. If that comes, it is far from clear that China’s regulators and decision makers have the technical skills or the political authority to minimize the damage—especially since that would involve enormous losses to the wealth of the politically connected.
We cannot know when or even if a catastrophe of this scale will take place, but students of geopolitics and international affairs—not to mention business leaders and investors—need to bear in mind that China’s power, impressive as it is, remains brittle. A deadlier virus or a financial-market contagion could transform China’s economic and political outlook at any time.
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The WSJ should have said “We respect the Chinese People, it’s just the government that sucks raw goat meat.”
And China would reply, “Just wait until you idiots elect Bolshevik Breadline Bernie. At least we still have residual capitalism. The US is screwed, blued, and tatooed.”
In Chinese History, that is a very charged thing to say.
A bit like publishing the N word and slavery in relation to Africa.