China dream alive and kicking (economy ripe for collapse)

The New Australian ^ | June 2002 | S.P. Seth

[spycatcher]

Also see this thread...

Is China the Next Argentina?

[SteamshipTime]

Someone posted on this forum that the Chinese will assign 400 people to milk a single cow and report full employment.

[ShayAllen]

I am so pissed at all these bastards trying to capitalize on China. The stonger the Chinese economy is, the more ICBM's and MIRV's they have pointed at us. We should be trying to destroy them. They are already targeting us with nuclear technology that our treasonous and idiotic government provided to them.

[Life of Brian]

For a momment there I thought this was another article about the US economy.

“The official data overstate the pace of economic expansion" ..

"The mainland (USA) banking system is crisis-ridden and corrupt. In an open political system, it would in all probability have collapsed by now, considering that half to two-thirds of all bank loans are nonperforming and growing."

"High-level linkages between the perpetrators of such fraud, however, result in disinterested investigations"..

"If people knew what was going on, there would be an instant run on the banks, which would bring the (US) Chinese economy to a halt.

"Considering the mainland’s padded statistics, one must be very skeptical.

Land confiscation is a serious issue in the countryside,

“What's happening is land transfers to a few rich people. The government has had a long-standing policy of letting a few people get rich first.”

[bok]

China red dragon is friend to merican bald eagle. We friend so much we target and threaten ICBM on city such as Los Angeles and New York in 1996. Billy fellow communist clinton help china, vewy nicely and we make merican bow before us and sign a book of condolence over belgrade bombing. We sneaky peeple we know how to play shell game with merican peeple.

[Wingy]

Uhmm.. Don't you have some homework to do???

[Free the USA]

Index Bump

[spycatcher]

Thanks for pinging the lists

[Free the USA]

Your welcome

[spycatcher]

You're right, it's insane for US to blindly support the Chinese modernization. It would be like Ronald Reagan's administration propping up the Soviet Union instead of bringing them down first. We can always be friends after communism collapses.

[Pining_4_TX]

the Chinese will assign 400 people to milk a single cow and report full employment.

Ah, government employees!

[AdamSelene235]

Every other building in China's major urban areas seems to be a bank. Weird. People can't possibly need *that* many banks.

OTOH, street level free market capitalism is simply raging out of control. Its pretty cool actually. Everyone wants to start a business, everyone wants to get rich. The average man in the street is a hard core capitalist.

[a_Turk]

Well, maybe once there's no more technology and no more money left to gift to China, you'll come to a painful realization..

Most favored nation.. What a farse.

[Arleigh]

China has a long and noble history of insanely bloody civil wars. I smell an historic slaughter coming up soon. The American economy is on the verge of collapse and when it does, it'll drag down the export-dependent Chinese economy. Once those billion+ Chinese realize they'll NEVER be rich, all hell will break loose. All the wars and genocides of 20th Century added up to less than 300 million dead. China could top that in a few years of serious fighting and starving.

The worst part is that China will turn into a Super-Mexico and flood the world with illiterate illegal aliens. It'll be The Camp of the Saints time.

[nonliberal]

China's entire economic growth is based on its trade surplus with the United States. If we revoked MFN (or PNTR) we could, and should, bring yet another communist country to its knees.

[AIG]

That's not correct. Whereas 40-70% of most other Asian nations' GDP's are derived from exports, that figure is just 20% for China. China is a lot different from other Asian economies because it has a large domestic market in and of itself. For instance, China is the #1 market in the world now for cell phones and PC's.

[TigerLikesRooster]

Re #14

You are correct in saying that the collapse of American economy will bring down the Chinese economy, and ironically her ambition to become the World hegemon, replacing America. I always thought that the surest way to check Chinese aggression is for American economy to tank for a while. Not that I like the consequence of it in America. But my feeling was that American business and political community will continue to suck it up for China, blinded by the billion men market, without such an event.

I do see that any serious economic downturn in America this time around is something you cannot get out of easily. I do not enjoy this event unfolding. But the potential is there. It should be reminded that the American economic downturn can be triggered by an external event, such as the collapse of Japanese economy. Chinese economy may collapse on its own, too. There are at least three large economies wobbling at the edge of a financial disaster. Whichever falls first will take all the blame (for a while at least) and the rest of dominos will fall. At the beginning of 90's, the world looked so peaceful and full of hope. Things got seriously screwed up in a dozen years.

[TigerLikesRooster]

RE #16

That 20% is crucial. The rest, 80%, can be more of accounting hot air than real substance. Besides, all other sectors of economy depends on export sector for their prosperity. Most of growth momentum comes from that 20%.

[AIG]

Do you doubt that China is the biggest market for cell phones now? You don't have to trust China's figures. You can trust Nokia's. The Koreans are particularly big in China's cell phone market these days, incidentally.

[AIG]

I read a few months ago that for the first time the Koreans were investing more in China these days than they were in America. I visited Korea a few months ago on business and it was amazing to me how many Koreans were studying Mandarin these days. Same with the Japanese.