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Bruce, you are.
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Posted by Reality (more from Reality) on Fri, 25 May 2012 17:26:24 Share Post by Email
In Reply to: Reality, You're one heck of a hedgehog, Bruce, Fri, 25 May 2012 16:53:52
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You are presuming entirely too much. I do enough business with China, shipping goods both ways, to have a business representatives living there year-round overseeing the operations. I'm also acutely aware of the risks and social problems there. Almost every single middle class and up parent there wants to send their kids (their "future" in the local social context) out of China. Where do you think they'd park their money when given a chance? How would they be able to pay for their kids overseas education and living expenses if they do not earn dollars.

While China did have significant economic growth from the late 1970's to early 2000's, when they could copy the more modern economic practices of the west, what's been happening in the last half decade or so will probably go down in history as a replay of their calamitous Great Leap Forward of half a century earlier, without the tens of millions starving to death of course, but another episode of the Chinese intellectual and political central planning minds being fooled by fake statistics cooked up by bureaucrats at every level. This time, "GDP" instead of fake grain and steel tonnage. When the bubble bursts (it's already underway), they will face many years of stagnation and probable social upheaval.

Did the recent top Chinese cop seeking political asylum in US consulate came to you as a surprise? It wasn't to me. "The Great Escape" has been going on for more than a decade. How would they finance their escape from China without earning the US dollars first?

posted by 75.67.1...

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