Doom and Gloom of China's Economy

[SPIEZ]

I thought this was about their economy, not their nukes. So because the Chinese have nuclear missiles I should hate everything they do? And since the Chinese have renounced first use of nuclear weapons (which I also respect them for by the way, since it shows respect for human life) the only reason I would have to fear their nuclear weapons is if WE attacked them with our minuteman and tridents (which is highly improbable without them attacking us with nukes first). I may not support everything they do, like I don't every other nation in the world (even my own), but in terms of economy, utter respect, not envy or prejudice, ie you.

Dude, yes I meant the other thread about nuke's.

But before commenting have the balls to accept that you are a Chinese.
I don't have any probs with the Chinese.

 

[SPIEZ]

As Hu Jintao and President Obama gather in Washington for their summit meeting, it is a good time to take another look at U.S.-Chinese economic relations. China has become the lightning rod for Americans on the left and right who find an obstacle to the U.S. recovery from its economic woes. From Niall Ferguson on the right to Bernie Sanders on the left and to many the politicians and economists in the middle, the problem with China is that its high rate of saving and its undervalued exchange rate have resulted in high unemployment in the US and brought about an unsustainable American trade deficit. Some economists have even argued that this deficit was a major cause of the economic crisis in the first place.



Source:America's China Problem: Another View � Jeffrey C. Goldfarb's Deliberately Considered

Now you can either choose your nationality or location

 

[Kingsley]

Please change your flag according to your location.

I'm in Gaborone, Botswana. I work here. I don't care where I'm at, but I'm not going to be represented by any flag that is not the AMERICAN flag... If you've got a problem with that, I can't help you...

 

[LurkerBaba]

Haven't posted here much so please enlighten me... Do I pick a flag according to my nationality or my location?

Your current location is not your nationality ?

I'm in Gaborone, Botswana. I work here. I don't care where I'm at, but I'm not going to be represented by any flag that is not the AMERICAN flag... If you've got a problem with that, I can't help you...

I don't want to divulge personal details, but work there or studied there from high school to college ?

Anyways I'm going offtopic, so I'll stop

 

[Kingsley]

Dude, yes I meant the other thread about nuke's.

But before commenting have the balls to accept that you are a Chinese.
I don't have any probs with the Chinese.

You're kidding right? I have to be Chinese, to respect their achievements? So to point out that my friend Frank hates Paris cause he's slightly biased against the French (mostly because he's British and there's rivalry there), means I'm French too. So since this is defenceforumINDIA I can't be unbiased and fair towards the Chinese without being Chinese? Should I hate them because I'm American? There is something seriously wrong if you think that... Think about it bud...

 

[Kingsley]

Your current location is not your nationality ?



I don't want to divulge personal details, but work there or studied there from high school to college ?


Anyways I'm going offtopic, so I'll stop

Maybe you're just curious so I'll tell you coz I'm a nice guy... I work here. I come from Cedarburg, Ozaukee county, in Wisconsin. Is it that hard to believe that an American can respect China in anyway? All three hundred million plus of us should all despise it? Please explain friend... cuz I dont get it...

 

[SPIEZ]

You're kidding right? I have to be Chinese, to respect their achievements? So to point out that my friend Frank hates Paris cause he's slightly biased against the French (mostly because he's British and there's rivalry there), means I'm French too. So since this is defenceforumINDIA I can't be unbiased and fair towards the Chinese without being Chinese? Should I hate them because I'm American? There is something seriously wrong if you think that... Think about it bud...

So you can start byanswering my question. But I have nothing against you my friend. You can either chose to answer it, or ignore it. It's in post #43.

Regards

 

[Kingsley]

As Hu Jintao and President Obama gather in Washington for their summit meeting, it is a good time to take another look at U.S.-Chinese economic relations. China has become the lightning rod for Americans on the left and right who find an obstacle to the U.S. recovery from its economic woes. From Niall Ferguson on the right to Bernie Sanders on the left and to many the politicians and economists in the middle, the problem with China is that its high rate of saving and its undervalued exchange rate have resulted in high unemployment in the US and brought about an unsustainable American trade deficit. Some economists have even argued that this deficit was a major cause of the economic crisis in the first place.



Source:America's China Problem: Another View � Jeffrey C. Goldfarb's Deliberately Considered

Now you can either choose your nationality or location

OMG! So because Obama is trying to blame the state of our economy on China cause their citizens save a lot and peg their currency to save their own skins should make me dislike China? Our economy should be fixed by us, not by China reducing our trade deficit by making their currency stronger. Look at the problems being caused in the Japanese economy by the yen appreciating against the dollar... Should I despise and lose all respect for the Chinese because they don't want the same thing happening to them? Our economic policies are decided by AMERICANS, not Jintao in Beijing, so when something goes wrong, I blame the politicians in Washington, not some dude in China I know nothing about... Anything else you got that'll help me hate the Chinese economy as much as you do?

 

[SPIEZ]

OMG! So because Obama is trying to blame the state of our economy on China cause their citizens save a lot and peg their currency to save their own skins should make me dislike China? Our economy should be fixed by us, not by China reducing our trade surplus by making their currency stronger. Look at the problems being caused in the Japanese economy by the yen appreciating against the dollar... Should I despise and lose all respect for the Chinese because they don't want the same thing happening to them? Our economic policies are decided by AMERICANS, not Jintao in Beijing, so when something goes wrong, I blame the politicians in Washington, not some dude in China I know nothing about... Anything else you got that'll help me hate the Chinese economy as much as you do?

See now you have chosen which side you lean to. That was exactly what I was looking for. Not arguing with you .
Thank you

 

[Kingsley]

See now you have chosen which side you lean to. That was exactly what I was looking for. Not arguing with you .
Thank you

You say you have nothing against the Chinese yet you just can't fathom that an American could admire their flourishing economy? Please don't leave me hangin, explain yourself bra.

 

[Daredevil]

Very unbiased, neutral thread Daredevil. I mean China is gong to implode and millions of people will be destitute. Babies will go hungry, the world economy will be hurt and you will finally be happy. Stop. You have been foretelling the demise of the Chinese economy since 2009 or earlier. It wont happen. Even the IMF recently released their prediction that China will surpass us in 2016.

Don't make up things. This thread is only about economy, it doesn't talk about babies going hungry or millions becoming destitute. It talks about the follies of China's economy especially the policies of CCP. If you think all the news posted above from respectable news outlets is wrong then please rebut those statements with reasons.

You should be happy for your fellow Asians and stop with all this bitterness, instead of looking for any mistakes or problems. China is a developing country, there are bound to be issues and problems. Is India perfect? I don't see you highlighting your own countries problems and trying to ridicule it. China has lifted millions out of poverty and has just become the most powerful economy in Asia.

Who said India is perfect?. We know the limitations of India and we criticize as much as we criticize tother countries. Do check other threads on India. We appreciate China's progress and its ability to bring out millions out of poverty. There is another thread to discuss the achievements of China and its economy. Please use that.

The truth is There is no DOOM and GLOOM in the Chinese economy. Problems, yes, there are probems in every economy. Is China the worst? No, its one of if not the strongest economy right now, with even the Europeans looking to China to help them out of their situation. Stop hating pointlessly, Anyone who is truly neutral can see straight through your hate for China, even if you remove or block my post, its still true. I've been on the Chinese economy thread and it was evident people, almost all Indian, were highlighting anything bad they could find on the Chinese economy, there was barely any good news until you started this uplifting thread. This isn't a personal attack or whatever, its advise... Be graceful, all this envy and hatred wont make India better than China anytime soon, hard work will. Take a page outta the Chinese book and work hard silently.

Why so much heartburn for an alleged 'American . If you don't have anything to add to this thread, keep away from it and also stop your sermons forthwith. Stick to the topic.

 

[Daredevil]

Kingsley,

If you don't have anything to add to this thread, please stop visiting this thread. And no need to sermon people here about the greatness of China's economy. If you keep continuing with your off-topc posts, you will be given infractions or bans as necessary. So I suggest you to cease and desist.

 

[Armand2REP]

Just scrolling through the news reel...

China FX reserve growth stalls with exit of Foreign Capital
China auto sales hit the breaks in Q3
Exports hit negative 0.7% Q3
High inflation still looms
Chinese tech stocks collapse
China's Bubbly bubble (Champagne) broken?
China Buys Shares In Major Banks As Shadow Banking Credit Grows
"ŽNew Chinese Ghost cities Found
Wenzhou SMEs Collapse - Sign of the Times?

Oh yeah guy, it is just peachy in the People's Republic...

 

[Kingsley]

Kingsley,

If you don't have anything to add to this thread, please stop visiting this thread. And no need to sermon people here about the greatness of China's economy. If you keep continuing with your off-topc posts, you will be given infractions or bans as necessary. So I suggest you to cease and desist.

So only bad news about the Chinese economy is allowed on this thread? Anything good, any growth, any breakthroughs are strictly forbidden or people get banned?

MOD EDIT: Use other threads for other Chinese economy news.

 

[Dovah]

So only bad news about the Chinese economy is allowed on this thread? Anything good, any growth, any breakthroughs are strictly forbidden or people get banned?

There are other threads for good news.

 

[nimo_cn]

So only bad news about the Chinese economy is allowed on this thread? Anything good, any growth, any breakthroughs are strictly forbidden or people get banned?

MOD EDIT: Use other threads for other Chinese economy news.

You must be new here. A little tip for you, don't take such thread too seriously, you will only be worn out if you try to talk some sense into them.
We Chinese are not bothered by such threads, I hope you, as an American won't be bothered either.

Hope you can have fun here

 

[nitesh]

You must be new here. A little tip for you, don't take such thread too seriously, you will only be worn out if you try to talk some sense into them.
We Chinese are not bothered by such threads, I hope you, as an American won't be bothered either.

Hope you can have fun here

Oh, what a show of all is well. I really love such words of wisdom

 

[Daredevil]

As China's economy cools, loan sharks come knocking

New York Times Oct 14, 2011, 09.16am IST

WENZHOU, China: The 300 employees of Aomi Fluid Equipment here were delighted recently when the owner offered an all-expenses-paid, two-day trip to a mountain resort three hours away.

The owner, Sun Fucai – or Boss Sun, as he's known – was so insistent that his workers attend that he imposed a $30 fine on any employee who refused the getaway. Nearly everyone went.

Except Boss Sun.

When the employees returned from their holiday, they found that the factory had been stripped of its equipment and that Boss Sun had fled town.

The boss, as it turned out, was millions of dollars in debt to loan sharks – underground lenders of the sort that many private businesses in China routinely use because the government-run banks typically lend only to big state-run corporations.

As China's economy has begun to slow slightly, more and more entrepreneurs are finding themselves in Sun's straits – unable to meet debt payments on which interest rates often run as high as 70 percent in this nation's thriving unregulated, underground loan system. Such illegal lending amounts to about $630 billion a year, or the equivalent of about 10 percent of China's gross domestic product, according to estimates by the investment bank UBS.

In recent months, at least 90 business executives from this coastal city, a one-hour flight south of Shanghai, have disappeared because of mounting debts and impending bankruptcies, according to a local government report.

Whether out of fear of mafia-style loan enforcers – kidnappings and broken kneecaps are common tactics – or the family dishonor that is its own harsh penalty in China, some of the Wenzhou missing have gone into hiding. Others have fled overseas.

And in the past few weeks, at least three have tried to commit suicide by jumping off high-rises in the city, according to the state-run news agency, Xinhua, which reported that two of them died and the other survived with a broken leg.

That tycoons in a city known for its savvy entrepreneurs are running scared has raised concerns that private business, a vibrant part of China's economy, may be losing steam – while exposing the high-risk, unregulated financial system on which so many of the nation's small and medium-size businesses have come to depend.

 

[p2prada]

China's economic condition is deteriorating because of the situation in Europe. I wonder if the Japanese earthquake has affected them or not?

Anyway it is not something most Chinese will concern themselves with. As long as they don't have some kind of a subprime mortgage crisis then we don't have to worry about China's demise.

The Chinese are rising interest rates the same as India in order to curb inflation. So, small businesses will be the most affected. In addition to that they are reducing expenditure, so growth will be slower. These steps will only make China stronger in the long run and will do the same to India as well.

As for debt related suicides this happens in India as well. We have seen farmers do that, so it is not surprising the small owners are taking the same steps. But how many will be affected by this? Too few for such large countries with such large economies and populations.

 

[Singh]

China has got world class infrastructure, and a very efficient workforce; even if their economy collapses they will not go back to the dark ages.