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| China-Japan-Koreas |
| On China's fast-track to luxury |
| 2004-08-01 |
| The rapid growth of the Chinese economy is causing some concern around the globe. Other countries fear they will soon no longer be able to compete. It's a revolution based on a limitless supply of manpower. The author starts right out with a manifestly false statement and magically glosses over numerous other ones in short order. THERE IS NO SUCH THING AS A "LIMITLESS" OR INFINITE MARKET. Neither supply nor demand can ever be unbounded. China's supposedly infinite labor market is what will eventually destroy their corrupt system when all of these workers finally understand that only a few are destined for actual wealth. Watch out Japan and the US; China already has the world's third biggest economy... and it just keeps growing. In Beijing this summer the latest fashion statement is a Hummer H2. For the uninitiated a Hummer is an enormous gas guzzling American 4X4. It's about the size of a small house. Just the thing for running around a congested city of 14 million people! Just the thing for a country whose dependence upon foreign oil exceeds that of nearly all others. One glance at the gas mileage rating sticker tells all; "Not Applicable." "That has to be the stupidest car on the planet!" I commented to a Chinese friend on seeing yet another one blocking up a Beijing street. "I can't understand why anyone would want to buy one of those things." She laughed at me. "I thought you understood Chinese people!" she said. "They love cars like that. If you're rich in China you want to show it off." And in Beijing there are plenty of new rich who like to show it off. The Asian fascination with conspicuous consumption will most likely be one of their major stumbling blocks to lasting economic success. As with Japan's obsession over owning and exhibiting name brand goods, when scaled up for China's masses, this preoccupation with ostentatious public displays will bring about the usual misery. |
| Posted by:Zenster |
| #5 Wow, they try so hard to spout the various liberal litanies. 1) There is a fixed number of jobs in the world. False. As more Chinese get rich, they will buy more stuff, including American and Japanese goods. 2) The rivers are running black and the air is acrid due to capitalism. False. Under communism, a soot belching polluted water spewing factory was considering an example of China's industrial prowess. As for the Asian propensity towards conspicuous consumption, what is wrong with it? We have such a predilection, too. We just call it a normal suburban life because we (Americans) are all so damn rich compared to the average Chinese. We live in McMansions and drive suburbans, shop at WholeFoods, get baby-gucci wear for our kids and Coach leashes for our dogs. Even our food (organic) is upscale these days. |
| Posted by: Brutus 2004-08-01 7:49:38 PM |
| #4 LOL, I think Shipman's brain has been momentarily taken over by Muck4doo! I'd recognize that grammar and syntax anywhere.... |
| Posted by: Scooter McGruder 2004-08-01 6:27:32 PM |
| #3 Hmmmmmm..... I think Hummmmer need to be bought out by GM's Pontiac (dont we've heard it) Division. LONGER! LOWER! HIGHER! WIDER! SEE THE NEW HUMMMER GTO! (grand touring over your ass) |
| Posted by: Shipman 2004-08-01 6:08:54 PM |
| #2 Missed one little corker: Here capitalism is raw and unregulated. The air is acrid. The rivers run black. It’s not pretty, but it’s thriving. Capitalism does not cause air or water pollution. Corruption, lawlessness and malign neglect do. Capitalism functions quite well under rule of law. What passes for leadership and law in China scurries back into the shadows when light is shed upon it. |
| Posted by: Zenster 2004-08-01 4:05:11 PM |
| #1 Looks like the the author is, to put it mildly, an idiot. Remember about 5 to 10 years ago when Microsoft was going to take over the world's economy with their 20% annual growth? All good things must pass; China's growth will be no different. |
| Posted by: Raj 2004-08-01 3:49:59 PM |