China actually takes steps to improve the economic conditions of their poorest. That's really not possible, never happened before. When people see the light, they refuse to go back to the conditions of the past. The people literally will resist it, no matter what.
OH God,i'm really a little surprised for most of foreigners (relative to chinese) are optimistic to china's future.i'm a native chinese,but frankly speaking,i fell great depression about the people's future.Mybe you read carefully some materials which describe how rapidly china's economy is growing ,but the truth is,in china,all Numembers are not worth of believing.the Statistics Bureaus work out any datas at their will and sometimes they force enterprises to report these bubbled datas. of course,the fatal point is lack of democracy.as a foreigner,you can't know how dark and shemeless those government officers are.when convenient,maybe i will tell you.
USA buys unlimited resourses bu t China only gets some paper dollars in cost of workers' blood and sweat and even nobody knows when these papers become rubbish.how to prove china is the richest and usa is the poorest please?
Look at your average retail store. 80-90% of the stuff in there is made in China. Only when you begin to migrate away from the low-to-meduim quality base of Chinese goods do you see a divergence from China into other countires of origin. I'm not talking about perishables, but almost-eternal shelf life type of stuff. The Chinese own us and they know it. Because of the above situation we've adjusted our budgets to reflect our ability/need to continue to purchase these products at a ridiculously low cost. Hence we've committed more of our "new found" money to other monetary outlays such as mortgages, car payments and such. We HAVE to keep buying their stuff to maintain our standard or living. So our ability to pay more money per month for the house, car, credit card debt is directly related to our perceived assurance that we will always be able to purchase the other stuff we consume at a low cost. And it parallels the housing market. 7 years ago you paid x amount of dollars for a 4 bedroom house in ABC neighborhood. Now the house costs 4 times as much. Is it worth it? Hell no!! The only reason it's selling for that much is that people buy houses based on the monthly payment, not on what it's worth. Therefore if you were comfortable with your 2k/mo payment and now you can finance 150k more and pay the same amount of month, why not go for it? So what if the lot's a little smaller and the house is only 2 years newer. And why not when it seems like your outlay for other expenses (the stuff we get from our good ol' friend China) actually helps us channel more money into our pockets for our mortgage. It's US that makes China the 800 pound gorilla. And that's not counting currency, trade imbalance, pollution, commodity utilization, and tons of other info that factors into it. It's almost enough to make you want to learn Mandarin. lee
I suspect the government of China is playing a game with the USA that is similar to the Japanese government's game with the USA about year 1980. I recall reading that about year 1980 Japan was selling steel, cars, and electronics in the USA below cost in an attempt to drive USA manufacturers out of business and capture a greater share of the market. I recall that when the US Department Of Commerce complained the Japanese government's response was to demand that the USA remove it's electronic monitoring equipment and personnel from the northern islands of Japan. The northern islands of Japan are near Sakhalin island and Kamchatka peninsula, home of the Soviet pacific naval fleet and Soviet pacific air force command. The US State Department then intervened claiming that the intelligence monitoring is in the national interest of the USA, USA Department Of Commerce was overruled and the Japanese were allowed to continue their predatory marketing practices. The story is much the same today except instead of Japan the new player is China and instead of the Soviet Union the new threat is North Korea. I suspect when the USA government complains about China not floating their currency or anything else the Chinese threaten to withdraw from joint negotiations with the North Korean government.
China equity markets dropped another 4% today. Also the US has decided to take China to the WTO over unfair trade practices (announced today). I am more interested though in how the Chinese markets behave next week - at this point I think there are many who recently bought the top and the last thing needed is panic selling esp. at a loss!! http://lauristonletter.blogspot.com/
I am a Chinese. I don't know why do you always criticize our development and our hunman rights. We and our govement all know we have many problems,but the change need times.To a country has so many people, the change need more times. But we strive at all time.Although,now I also face much difficulties,I am poor,I earn little money,I work like slave,I don't think this a mistake of our goverment.This olny because I have no ability. I believe our govement,me and our people love peace,we don't always like compet with other countries, if we do this only for live . I hope all countries in the world can be wealthy and development together. My English is not so good, I hope I express myself clear.