Comments on: China’s economic model isn’t the answer for the U.S. http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/ Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: saucymugwump http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-141 Thu, 02 Sep 2010 01:44:58 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-141 Add this URL to my last post: http://www.spiegel.de/international/worl d/0,1518,713478,00.html

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By: saucymugwump http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-140 Thu, 02 Sep 2010 01:43:29 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-140 kc10man wrote: China did not steal train technology from anyone. THEY BOUGHT IT

In some cases, that is true. In other cases, it is not. Read Der Spiegel’s article “Beijing’s High-Tech Ambitions
The Dangers of Germany’s Dependence on China” especially Part 6: War of Nerves: “Videotapes show how Chinese engineers went into the assembly buildings at night to secretly examine parts of the Transrapid.”

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By: kc10man http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-138 Tue, 31 Aug 2010 18:08:59 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-138 Hi happaliau,

I agree with most of your assessment. And yes, like you, I have lived in China for several years. It is true that the vast majority of the 600,000 graduating engineers every year do not have the ability to innovate, because they have been taught their whole life to conform. Questioning a professors position in China is considered an insult, so debating in order to find better ways, in order to find the truth, is not acceptable. It’s a fact that engineering students graduating this year in China will make an income on par with a migrant worker at Foxconn.

Construction is also ridiculously shoddy. I know of a skyscraper that was under construction in Chengdu that used almost no steel re-bar in its support structure. After it sat still for two years, the construction company finally bribed the right people to finish building the death trap. I currently live in the penthouse of a 31 story brick skyscraper, my rent is about 450 USD, the owner payed two million for it, haha.

Only China would brag about building the worlds tallest concrete and brick skyscraper. Western countries would immediately be terrified of it.

And yes, the high speed trains are far to expensive for most people. But you can try to see it as a stimulus project that invests in the future. I’ve rode several of these trains and they are always filled with Chinese businessmen! It’s just the trains that go long distances that make no sense. Why would anyone pay more money to take a train that will take twice as long as flying?

There is no doubt that there will be many painful obstacles that the Chinese people will have to overcome in the near future. The most dangerous of which is the housing market, and how the government/people respond to it.

If you are like me, and happaliau, I think you are, when the housing market shows the smallest downward tick, take a vacation to somewhere a little less totalitarian and a little more economically stable.

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By: kc10man http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-137 Tue, 31 Aug 2010 17:22:58 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-137 Lolz, I like the name Boxer Rebellion. And I agree that our goal now is to try and make China as “Americanized” as possible before they finish consuming us. There will be no stopping China’s economic growth and its importance on the global stage will be here as long as there are man on this Earth.

But could it be so hard to believe that the same nationalism that we created 100+ years ago will no longer be of so much importance 40 years from now? Our kids, if they are successful, will much more likely be global citizens more than they will be citizens of a nation state. Look at the US as more of an insurance policy and less as your home sports team.

Those whom already possess great wealth, already see nationalism for what it is and what it shall become.

By the way, I would not go with the Chinese insurance program. No healthcare, but if your federal you can retire at 55 for men and 50 for women, which is not bad. Taiwan has a better deal right now, or you guys in the US could opt for heading to Canada, but then again the schools there are just as crappy.

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By: kc10man http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-136 Tue, 31 Aug 2010 17:05:24 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-136 Hey reliability; It’s way to easy to tell that you are a 50 cent Chinese government employee. 5毛政府工作人员

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By: GaiusCaesar http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-133 Tue, 31 Aug 2010 13:44:41 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-133 For some reason a lot of folks thinks china is not entitle to development and economic growth in the their own right.
Economics;
Globalization is pure basic economic, demand and supply. If you are so much concern about China, than don’t buy anything from China (remember Taiwan is not China). There are a lot of cries on why they always stabilization their currency against the dollar (simple………………basic economic. If the price is cheap, you buy more quantity, hence economic growth).
It used to be the “WEST” (Britain, France, Portugal, Spain, and USA) use economic intimidation to get Good, Services & Raw Materials from the third world countries. If you practiced socialism, monarchy or communism, you pay a huge price called Coup D’état. France used to dictate what the FX rate will between FRA to CFA. (I think they still do it but I stand corrected on this one in modern day)

Politics;
Has anyone thought of how to govern 1.4billion people with different ethnicity in the mix? (Again 1.4billion people). Western type of democracy will not work everywhere (for example in the Middle East and Africa), but unfortunately a lot of people thinks democracy plus capitalism equals prosperity. We should all remember beauty is in the eyes of the beholder (in this case communism plus economy growth is their way of success).
Now with strong centralization government (communism), they can muscle their way with rapid economic developments and growth… Rails, Road, Housing, Manufacturing, Production.
A little history learn here, once upon a time there was this great president of Ghana; Dr Kwame Nkrumah, he was too smart, American educated, visionary and ahead of his time( Steve job, Warren Buffet has got nothing on this guy, not even close). What China is doing now is what he wanted and started doing in the 1950s. The “WEST” stated panicking, hence a Coup D’état.
You got the picture? But when it comes to China and their Military might (they proved shooting down a satellite without the WEST knowing about it for days, is possible). Than you know you have to live with them (at best criticized their form of government) and know how to dance with them too will be in the world interest

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By: Joshuak2077 http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-131 Tue, 31 Aug 2010 07:26:04 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-131 This article may well take us back when the British and other empires were justifying there existence and in the same time dismembering themselves: Capitalism, Socialism lol “the king is dead: long live the king”, however the last “Great” Recession that still works out its ways elsewhere have shown to anyone who likes being objective that the Globalization and rising Productivity, China’s industrialization and the outflow of industrial production from US and EU to China have established constant fiscal shortages almost elsewhere so the so called “trickle-down” Capitalism could not respond anyhow to these new conditions of rapidly expanding supply to a slowly dragging demand, therefore even a totalitarian Chinese political structure showed better then anyone else that “it is the economy…. Stupid” it is not anymore “the ideology…. Stupid”; the “Great” Empires are gone, the Ideology is gone and for sorry (because still so Marxism roles the Western Economics) many privileges succeeded by the Western Civilization such as social stability and high life standard could be up to be gone too.
With these personal freedom and liberties could get away too! If ideology of such articles like this one continues ruling the science of economics, because China is a strong economy getting stronger by the day, because the industrial production so associated with the most industrial countries and economies of the US and EU even being democratic and not oppressive to their peoples could not compete economically, …. Because the reality of economics have changed and the Capitalism cannot provide economic instruments to raise needed demand nor to maintain consistent economic growth, neither to save the Earth from pollution or exhaustion of recourses….?

Rulers and economists should open their eyes to the most recent changes of the marketplace, dispose their ideologies and everlasting “we are better then you are” attitude and start being more pragmatic in handling the Global Economy, when to expect China’s failure is not going to help no one.
Sincerely,
Joshua Konov

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By: nbywardslog http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-130 Tue, 31 Aug 2010 05:54:06 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-130 I think you’re right – one or two of the radical chique tendency around the globe are beginning to hold China up as a paragon of virtue or a new paradigm of some kind. Perhaps a virtuous paradigm. The reality is that the stop-go jackboot of Beijing confuses external investors, Chinese bankers and the real estate sector.
Also being controlling fascists, the Chinese do systems but not people. Their lack of grasp of social anthropology means they keep being surprised by corruption and profiteering: it’s a Left thang…we’ve had it in Britain since 1997,but we may be getting better again.
http://nbyslog.blogspot.com/2010/08/bern anke-in-wyoming-blind-mans-bluff.html

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By: neilcadman http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-129 Tue, 31 Aug 2010 05:37:19 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-129 Spacetime – Thank you for reposting my post. I note that I put “totalitarianism” in the wrong place.But I think it is still understood. All true Christian societies breed freedom. All atheistic societies breed totalitarianism. Jesus says,”the truth will set you free.” Non Christian societies, which are always Anti-christian cannot be free because the truth destroys their leadership, which is built on deceit and lies.
The atheistic or godless societies such as the U.S.S.R. self destruct from within because they have no morality. They do not value life and hence oppress.
As for science disproving God, how is it that man so often immitates the Creator by copying so many things which He has made? Why does he not just sit down and design and make things by chance? Because only a fool tries to do that. The fool says there is no God.
One of the most foolish statements made this century is “Evolution is a fact. It is just that it has never been observed yet.” Dawkins, wasn’t it. I rest my case.

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By: ERhoades http://blogs.reuters.com/chrystia-freeland/2010/08/30/chinas-economic-model-isnt-the-answer-for-the-u-s/#comment-128 Tue, 31 Aug 2010 05:26:21 +0000 http://blogs.reuters.com/chrystia-freeland/?p=135#comment-128 I hardly think that we need to worry about the U.S. becoming a centrally planned economy. Think about the continuing outcry over the bailouts of the banking and auto sectors, or think about the complaints over intervention in health care, if these actions create such a stir I don’t see the U.S. having a centrally planned economy anytime soon.

On the other hand there is a lot of soft direction strutured into the economy. From subsidies to tax policy there is a lot of policy intervention in the working of the U.S. economy, and it has been that way for decades, the U.S. didn’t need China to teach them that.

Three things will bedevil China yet on it’s road to empire. The first is the inevitable vagaries of business cycles. Right now China is the darling of direct investment, and it has benifitted from the huge currency reserves it has accumulated, but that is not a static situation. When I hear of China having the largest economy by 2030 I have to wonder how many recessions are being factored in, how many asset bubbles, this experiment is far too young to give it a non-stop green light to empire.

The second is the unfortunate limiting factor of resources available to China to build it’s standards of living on. And I don’t mean national resources I mean global rsources. The commodity inflation we were seeing prior to the global financial melt down was not an illusion we do have limited resources for an awfull lot of people. This will put strains on the ability of the Chinese government to satisfy the hunger for higher standards of living in China. We are also already seeing wage pressures in China.

The third is that China has the same demographic problems many nations do, and it will need to face a glut of aging citizens without the social infrastructure of many developed nations.

All in all of the BRIC nations the one I like best is Brazil. Will they become empire? No. But they have a well managed economy fat with national resources and without the crushing population isssues that China and India have, and without the corruption of Russia.

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