China Crisis – Wishful Thinking ?
IT’S ONLY A SONG ! link.
Not that I can claim I had my first Walkman then. Although I can attest to my light blue Sony Walkman procured sometime during the Tiananmen fiasco (long live Man vs Tank !)
I chose the word “fiasco” carefully because over 20 years on, and communism eradicated in all but name and what do we have ?
This is a montage of headlines and excerpts of articles on stuff I have been reading. A valiant attempt to reconcile my love and hate relationship of China.
|22-Aug-12||BBC||Rich Chinese Seeking Overseas Residency|
|26-Aug-12||AlJazeera||Why are many Chinese feeling disillusioned & don’t think they are sharing China’s prosperity?|
|26-Aug-12||China Herald||China’s chaotic health care drives patient attacks|
|26-Aug-12||Business Insider||An Brand New Bridge Just Collapsed In China|
|28-Aug-12||Marketwatch||China Construction Bank sees bad loans rising|
“US politicians are paupers compared with China’s. In a February column, I mentioned an eye-popping figure from the Hurun Report, which tracks China’s wealth, that is worth repeating. The wealthiest 70 members of China’s legislature added almost $US90 billion to their bank accounts in 2011. That increase is greater than the combined net worth of all 535 members of the US Congress, the President and his cabinet and the nine Supreme Court justices.
As more and more politicians get rich through questionable land grabs, insider trading and old-fashioned rent-seeking, there is less incentive to retool the economy. Political will shrinks as overseas bank accounts swell. All that money sloshing around conspires to widen China’s rich-poor divide.”
“As many as three million young Chinese professionals toil in slum-like conditions in cramped housing on the outskirts of big cities. They are known as ‘ant tribes,’ a term coined by scholar Lian Si, China’s foremost researcher on post-80s graduates.” http://www.aljazeera.com/programmes/101east/2012/08/201282294320474807.html
It is a global game of hypocrisy.
- All of the world lauding China’s prowess and yet no one I know is willing to permanently migrate there. Rich Chinese are more interested in leaving !!
- The world interested in investing in China with our hard earned pension funds and what-nots whilst the Chinese are buying up the rest of the world.
- Even to the extent of privatizing a place of worship, a temple, in an IPO.
Morning Whistle : OF GOD and GREED
- The Occupy Wallstreet world disparaging the bankers, financiers and even Mitt Romney whilst Chinese corruption runs rampant and meritocracy is non existent.
“Corruption ranks at the top of the Chinese people’s concerns about their government & society” http://www.cfr.org/china/chinas-leadership-shift-disarray/p27974
“Among 100 Chinese Officials, 101 Of Them Are Corrupt” http://www.businessinsider.com/in-china-among-100-government-officials-101-of-them-are-corrupt-2012-4
“In a recent trend, some young graduates are deciding to flee the big cities and instead seek opportunity in smaller cities and towns. But there, too, they are frustrated, as they discover that good diplomas – and even ability – do not open doors. Local networks and family background do.” http://www.aljazeera.com/programmes/101east/2012/08/201282294320474807.html
- The western world criticizing the hardline policies of the MiddleEast yet keeping one eye closed to the regular immolations of Tibetans.
Timeline : 51 self-immolations in Tibet since 2009
- China seen criticizing the economic policies of Europe and feeding her people poison to buy themselves BMWs. America raging over Batman shootings and yet just a sympathetic nod when the motorists make sure their victims are killed in China to save on compensation.
USA Today : Chinese despair at endless food-safety scares
Chicago Tribune : BMW Expects China Sales To Increase Up To 30 Percent This Year
- Australia is punishing her companies with carbon taxes yet supporting China as her largest trading partner, the largest polluter of the world.
“China is now one of Australia’s biggest sources of migrants with figures released for 2011 showing that it had overtaken the UK for the first time.” http://www.bbc.co.uk/news/world-asia-china-18966261
The Paradox of China
China is a paradox and it is impossible to put a finger down to it.
Business Insider : The Chinese Kleptocracy Is Like Nothing In Human History
This is the best I can surmise.
If we could all choose to be born again in any part of the world right now, strange as it sounds, THE ANSWER WOULD NOT BE CHINA.
Now that I have cleared the air. I will not be seduced by cheap products, cheap food, high return investments, fake designer goods and pay for someone else to live the China dream that the Tank Man had.