My good man...this is the China affairs thread so we discuss China here not Japan.
Please explain why is China so scared of re-valuation of the Renminbi? ...too scared of competing in the real world economics?
The Chinese economy is in our physical reality, therefore, by definitionits, it is participating in the real world economics. Your "real world economics" is formed by the interaction of all those involved. Every player with its interaction with the global economic system is also shaping the rules, consciously or sub-consciously, preferrably to their favour, so a compromise results. With China's currrent economic clout, there is no reason for her not to exert influence on other economic players just as they are to her. The world is not fair, and the powerful often get their way. If the Chinese economy proves robust and resilient, then the "real world economics' is one where she can fix her exchange rates.
It has been known since Bismarck that nascent industries need protection from foregin competition. Would it be fair to allow industrialised powers to abuse their techonogical maturity, business experience, accumulated human captical and built plant and machinery, like pitching a toddler against an adult in a fight?
I am sure statistical cooking alone wont bring them to the second largest economy in mere decades. Guess we have to agree to disagree here then.
Second largest according to the statistics of which the legitimacy he is challenging.
If digging a hole and filling it up is added to national contribution god knows what other number magic the CCP does.In India most people understate their assets and everything so that the taxmen do not even come near us.You guys are the perennial opposite to us
Not all of the growth comes from unproductive projects. Besides, these are only a temporary measure.