Much of the same in the short-run, with a more consumption based economy, as I've said, what they've been trying to engineer for the past decade. China has already, by every credible economist's view, engineered a "soft landing." Money supply is down. Bank loans are down. Housing sales have slowed. The rate of property price growth has slowed. If Beijing's property prices were to fall 30%, it will return to what it was 18 months ago. http://www.bloomberg.com/video/63081012/
Good. If you are serious, once again you need to get your head checked. I thought the thread would have been properly titled "I hate MFing China to guts no matter what". That would spare us a lot China ecomic collapse talk that you obviously have no idea about.
You may be asked to save a real patient one day, and have stayed in holiday inn last night. But sill if I were you, I wouldn't pretend I know the in&outs of the econmoy of a country I never visited. I thought hardcore China cursing w/o all these irrelvant stuff would make actually your post much more intelligent (not saying it's really intelligent). And frankly, it's the irrelevant stuff that disturbed me. Not saying some of them are necessarily wrong, but they just don't support your pretencious conclusion. Good luck w/ your kidney exam.
Before I lose my mind completely to central pontine myelitis... A Message for China Published: September 30, 2010 China and President Obama have a lot to think about after the House voted, overwhelmingly, on Wednesday to give the Obama administration expanded authority to impose tariffs on nearly all Chinese imports. Protectionist impulses run far too strong on Capitol Hill, especially in an election year. But China’s aggressive undervaluation of its currency is providing a hugely unfair boost to its exports — hurting some American exports, but doing a lot more damage to others and hindering the recovery around the world. If the House vote grabs Beijing’s attention, that would be a good thing. We are skeptical that punitive tariffs are the answer. They wouldn’t provide all that much redress to American companies because at this point, except for steel and a few other products, most of the things Americans buy from China: TVs, refrigerators, toys — are no longer made here. As for whether tariffs would change Beijing’s thinking, we fear there is at least an equal chance that China will lash back. A trade war would be disastrous for bilateral relations, complicating efforts to contain nuclear programs in Iran and North Korea, and disastrous for the world economy. A more effective strategy would be to muster the support of the many other countries whose manufacturing industries have been mauled. China needs to hear and see that its currency policy is a global problem that is undermining the global influence it so clearly desires. So far, Beijing has used its clout as a major foreign investor and the world’s biggest importer of raw materials to mollify or intimidate its potential critics. The Obama administration needs to be at least as determined in its efforts to persuade others to finally speak up. A lot of that can and should be done with behind-the-scenes diplomacy. There is also an important public part to be played. One of the best venues to get the message across — to Beijing and other world capitals — is at the World Trade Organization. China, which relies so heavily on exports, keeps an especially close watch there. Last month, Washington filed two W.T.O. cases against China for duties it slapped on American steel and its discrimination against American suppliers of electronic payment services. It would be unlikely to win a case on China’s currency manipulation (which the World Trade Organization does not define as illegal). A broad challenge against China’s illegal trade practices, including providing subsidized energy and cheap credit to its exporters, could help embolden others to put forth their own complaints. This strategy also carries the risk of retaliation. But the United States can’t be paralyzed, and moving with others should lessen that threat. A few other countries are already speaking out. Japan has begun criticizing China’s currency policies. Brazil’s finance minister complained earlier this week about the “international currency war” set off by the manipulation of China’s currency, the renminbi. As the vote in the House loomed, Beijing defiantly slapped steep tariffs on poultry from the United States. On the day of the vote, Foreign Ministry officials warned of potentially dire consequences to bilateral trade relations, and China’s central bank let the renminbi fall a little. Still, over the last three weeks, the bank allowed the currency to rise about 1.5 percent against the dollar, roughly three times as much as it appreciated in the previous three months. Hours before the House vote, China’s central bank issued a statement pledging to “increase currency flexibility,” and “gradually improve the exchange rate setting mechanism.” Beijing has made these promises before. Which is why the United States and other countries need to push harder, together. http://www.nytimes.com/2010/10/01/opinion/01fri1.html?_r=1
Not to get into the detailed back and forth here. But doesn't the fact that people care imply that China's pretty important? Why complain about something that doesn't really affect you? I personally believe pigeonholing China into any one particular category is stupid and oversimplify things. China's power relies on quantity. HUGE, HUGE amount of quantity. But they lack quality. They're terrible when it comes to high end technology that drives the market. They rely heavily on imported high end machinery and technology to drive their manufacturing. Much of their technology lack the reliability necessary to compete at the highest level. On one hand, you simply cannot disregard the quantity China produces and exports. No matter how much you scoff at the fact that China mainly produces cheap shoes and parts of TV sets, these are still the basis of our spending. And if these prices go up, our lifestyle will suffer greatly. On the other hand, looking just at China's GDP doesn't tell the story either. It only speaks of size, not how advanced you are as a society. In the end, China is a superpower in some ways, but really just a developing country in others. Rather than placing ready-made labels, maybe we should just accept the country for what it is.
Agree completely. China is a huge developing country. It is absurd to claim China is a superpower when its standard of living is 10 times below the US. However, no one can disregard China's enormous size (in terms of manufacturing and potential market).
Did some quick research on HR 2378 today Basically that Bill gives the exec branch power to increase tariff on a country's product if it finds that country's currency undervalued. It's different from Congress will increase tariff on China. This just expands the exec branch ex-ante power in negotiation with China. Will the exec branch use that power? Even though Congress is captured, don't forget there are still other countervailing interests. Treasury's response so far has been lukewarm at best in the hearings. Treasury tends to have a more balanced picture b/c of its banking related capacity.
Good post. I think one problem is that I haven't seen a clear definition of what it means to be a "superpower". Clearly the PRC has problems underlying its economy but at the same time so does the US. As I said earlier "superpower" is more a term of perception than it is something quantifiable and in terms of perception the PRC will be, if not already, a superpower.
Well, in other news, China has something up in the sleeve and is plotting to take over Americah! according to "you can't masturbate" Christ O'Donell http://www.msnbc.msn.com/id/39503593/ns/politics-decision_2010
China is moving so fast and going through so many reiterations and revisions at a pace the average US person can't really fathom now. While I agree China isn't on par for quality, they're pushing change so fast and want to be leading edge with an entrepreneurial aggressiveness you can only see from a country that has been abused by other countries for a couple centuries. I'm working in China atm at a social gaming company (like Zynga) and my coworkers tell me that as long as you aren't taking a completely art/lit type of degree, you have to take up to differential equations in college as part of standard curriculum. Consider also that 1/4th of China's most intelligent is the same population size as the US. Reflect on these facts while reading this thread in the Hangout http://bbs.clutchfans.net/showthread.php?t=193773 about the problem and teacher lol. China is already a superpower and will be for some time.
Can you kindly explain what's necessary and unnecessary military expenditure? Can I understand it as the following: When US or other countries are doing it, it's necessary; When China is doing it, it's unnecessary. True, not true? Thank you.
I chuckled when an Indian student answered "Mine belongs to the highest batch" when the teacher asked him what his IQ is. Is it a sign of stupidness or not?
Smart. haha. Tell you something, "foreign" could be explained as "domestic" by the other side. At least it's in disbute. You offered your stand, though. Thanks.
