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Location: Sitting on a bar stool. Guinness in hand.
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China challenges US global financial leadership (http://news.yahoo.com/s/ap/20090328/ap_on_bi_ge/as_g20_china_s_game;_ylt=Ah8J.GwJjdY5uXu05KBLd..yB hIF - broken link)
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In his second rebuke of U.S. leadership this past week, the central bank governor, Zhou Xiaochuan, said China's rapid response to the downturn — including a 4 trillion yuan ($586 billion) stimulus package — proved the superiority of its authoritarian, one-party political system.
"Facts speak volumes, and demonstrate that compared with other major economies, the Chinese government has taken prompt, decisive and effective policy measures, demonstrating its superior system advantage when it comes to making vital policy decisions," Zhou said in remarks posted on the People's Bank of China's Web site.
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Despite its massive foreign reserves and an economy that many analysts believe is on the brink of recovery, China's leaders face stunning challenges in finding ways to create jobs for millions of migrant workers left newly unemployed. Social welfare and health systems are inadequate and its environment wrecked by decades of rampant industrialization.
"On the top, national level, yes, China has lots of money," says Ding Xueliang, a former Communist Party official. "But if you look at the troubles, all the economic and social challenges the leadership faces, China may hold so much money but it's not enough. It's not enough," he said.
So guys let me ask you guys. At this point in the game. Do you find that china is actually making the right moves and holding it economy together? And will slowly gain a major stake in global economy and/or become #1 influencer of the global economy, in lets say 10 15 years? Or are you more inclined to believe like President Reagan thought when he took on the Soviet Union. That would be,basically if you kick in the door the whole house (China's economy) would collapse?
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China has made its agenda clear: It wants a stable U.S. dollar, and has even advocated the creation of another global currency altogether. It is leery of protectionism. And it is demanding a larger say in how financial systems are regulated and rescued, while holding back on any promises for new rescue or stimulus measures of its own.
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The Chinese "are being hurt more than anyone else by the mismanagement of the dollar," said William Overholt, an expert with Harvard University's Kennedy School of Government.
Underscoring that grievance, earlier this week Zhou, the central bank governor, called for a new global currency to end the dollar's dominance in trade, foreign reserves and commodity pricing.
I'd like to hear your thoughts on a single currency for commodities.
I hate to say it, but Chinese leadership is far more on task than those bunch of imbeciles we have in DC acting like 8-year-olds.
Quality leadership is the most dangerous shortage we have today in America.
The Chinese have been accused of being many nasty things in their - brutal, inhumane, tyrannical. One thing they've never been accused of being is stupid.
Our government (USA) has sold its citizens out economically to China. Not only did we outsource tens of thousands of jobs to China but we also sold them billions of dollars of our debt. It’s over for us. What I want to know is when is the next civil war going to begin? Soon our own government is going to start rounding us trouble makers up like they do in China.
The Chinese have been accused of being many nasty things in their - brutal, inhumane, tyrannical. One thing they've never been accused of being is stupid.
And they are all of those nasty things. Willing to kill millions of their own. No mercy. Very patient.
They must be amazed at how cheap many of our officials will sell out for.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,747 posts, read 58,102,528 times
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Quote:
Originally Posted by Stac2007
Our government (USA) has sold its citizens out economically to China. ... Soon our own government is going to start rounding us trouble makers up like they do in China.
That's what the new FEMA internment camps are for, I hope we get health care.
The Chinese are very shrewd in business, USA will pay dearly. (and lose a lot of FACE). I don't think the Chinese are ready to torpedo us yet (we owe them too much), but wait till we start missing interest payments (or they find another trading partner with affluenza). The rascals in DC best get it right, but not looking good. (been throwing darts and using BandAids for 6 months now, only stirring the pot and illustrating they are clueless)
I wish the Government here would do its job and open up the federal reserve to audit. Instead they are eager to ruin private business. The only reason the US is in the mess it is in can be traced to unconstitutional actions.
Uhhh, I told you that China had been waging economic war with us ever since 'nam, and if you go back to usenet posts you'll see I was saying it years ago. Just what is surprising or new about this?
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