[crystalk]

Never underestimate the ability of China to fall on its face.

The only way it WON'T, will be if it becomes almost totally/officially Christian.

[weikel]

Its a myth in the interior countryside as people are still relatively poor their. In Shanghai and other coastal areas its not a myth.

[Fish out of Water]

bump

[dogbyte12]

Some of our numbers are fudged as well. Our "productivity gains" are mostly smoke and mirrors. People working on salary for "officially" 40 hours, but working 60 instead get more work done, only officially working 40 hours. They aren't producing 10% more an hour.

Statistics lie.

[Arkie2]

If China experiences an economic collapse its politicians are likely to turn to one of the oldest tricks in the book and distract the people with foreign enemies and foment a war.

[McGavin999]

The Chinese version of the dotcom bubble.

[Willie Green]

The only market in China is cheap labor.
They can't afford to buy what they produce.
It won't be long before the Average American achieves economic parity with this global standard.

[Shermy]

bump

[hove]

China is the next Japan. They will be an economic super power. But the combination of communism and Japan's achilles heel....corruption... will cause this giant to fall. And fall hard.

[TigerLikesRooster]

China suffers from huburis of its ruling elites. They ignores the reality of developing such vast territory with disparate regional histories.

In an all-out attempt to catch up with the major powers of today, they ignore that the best course of development is a slower growth of 5% or less. Phasing out socialist state economy is a time-consuming and painful process. The elimination of surplus farm labor is another explosive problem. China has tens of millions of them all hopping onto trains bound for big cities in the Eastern coast without having anybody waiting there to employ them or house them even temporarily. They just go there and hope that they will get jobs.

But the leadership of China is living a dream of China in 21st centurey high-tech society, joining WTO, being lionized by many Westeners as leaders of soon-to-be superpower. They successfully created the myth of "inevitable Chinese superpower" in near future. This is partly due to the willingness of the West to buy such myth based on centuries of folklores about China in Europe. For people with long memories, they sure hurry too much to make up for time lost in last 100 years.

But that is really dangerous. They let loose the system which does not have checks and balance to ensure smooth economic activities. Economy has many loopholes for state meddling and boundless corruption, which could be at its worst in banking systems. They just began to make some decent inroads into a market economy but they and their western sychopants are already euphoric about the economic superpower. When America business publications go so exhuberant, it usually means that something terrible is around the corner.

So much hype will create the level of expections which will turn into bitter disillusions when things turn sour.

[Cicero]

Very interesting article, and extremely important, IMHO.

The first generation of Western investors in China all lost their shirts, because the Chinese simply expropriated everything. Then after a lull they started investing again, and everyone says the Chinese have mended their ways. But this article suggests that the rule of law is once again decaying. You can't have business without enforceable contracts, justly observed.

It wouldn't surprised me a bit if the present generation of investors in China get bitten again, and it would serve them right, profiteering on the backs of persecuted victims in the Laogai and helping to strengthen the country that is potentially our most dangerous enemy. The Chinese only like to see money flowing into their country. They hate to see it coming out.

[ellery]

bttt

[HighRoadToChina]

"The Chinese economic miracle, in other words, is largely a house of cards. And, when it falls, the consequences could be catastrophic."

Let's help these Communists over the cliff with a total boycott of all "Made in China" products starting December 7, 2002. Instead of a day of infamy, let it be a day of awakening for America.

http://www.freerepublic.com/focus/news/800079/posts

[formosaplastics]

This writer feels threatened by China not because of its economy, which he feels is a sham, but because he fears that once this Chinese economic "bubble" bursts, that China will become an "even more" authoritarian and possibly aggressive and nationalist country than presently. Wow, what a convoluted argument! Isn't China today already authoritarian and not behaving in such a manner? Quite frankly, the world is more afraid of America acting haughtily and unilaterally in a "hegemonic" sort of way these days than it is China. Secondly, if the writer really does fear that any collapse of China's economy will lead to China's becoming the misbehavin' monster that he imagines it will become, then the writer should do all he can to help China's economy succeed, should he not? So all people who agree with the writer's ideas should shop doubly hard at Wal-Mart!

[formosaplastics]

Most of all, the writer fears what China will become if its economy fails more than what China will become if its economy succeeds. If it fails, then China will become the next Nazi Germany, the writer is basically saying. To avoid this outcome, therefore, Americans should do all they can to support China's economy by continuing to shop this Christmas at Best Buy, Bed Bath & Beyond, Wal-Mart, Kohl's, etc. Exports helped Japan, S. Korea, Taiwan, etc. all get rich, but their wages are all too high now to make cheap goods for American consumers so China naturally has taken their place. The danger lies in China's economy failing, not succeeding, according to this article.

[SwordofTruth]

Party-controlled media companies have produced popular videos glorifying the September 11 attacks. In one video, as the camera focuses on the rubble of the World Trade Center, a commentator says, "Blood debts have been repaid in blood. ... This is the America the whole world has wanted to see."

If there is any American out there that is not convinced that communist China is not our enemy, then I pity them. They hate us enough to celebrate our deaths. China should be our number one enemy, since they have the potential to inflict the most damage upon us, and have already threatened to nuke LA.

[The Pheonix]

Hear it from the Horses mouths

Want to get some first-hand info about investment in China, ask the CEOs of General Motors, Motorola and GE

The CEO of GM said a week ago that GM's faith in China had been proven correct as GM's car sales hit a whopping 100% increase this year, on a year to year.

Similar sentiments from Motorola and GE

[MadIvan]

My sister, who lived in Beijing for a year, has constantly told me that China is a lot less stable than it appears. She believes that it is entirely possible that a revolution could break out.

Regards, Ivan

[Artist]

Interesting article ping.