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| China-Japan-Koreas |
| China's secret row bursts into the open |
| 2006-06-06 |
| A FIERCE internal debate in China between economic reformers and new leftists opposed to the rush to embrace capitalism finally burst into the public eye yesterday. The People’s Daily, the mouthpiece of the Communist Party that has ruled China since 1949, ran a commentary that left no room for questions over the direction of 28-year-old market reforms. “Unwaveringly keep to the path of reform,” read the headline. A decision to publish such a prominent article in the newspaper, which is charged with reflecting party policy, could only have been made with the blessing of the party’s leader, President Hu Jintao. While the piece makes reference to the most pressing concerns of the new leftists, such as the widening gap between rich and poor, it is aimed at ending opposition to the pace of reform. |
| Posted by:DanNY |
| #13 P.S. Compare the US $200B deficit with China's $100B trade deficit with the rest of the world (Table 4). The US consumer is completely funding China's growth. |
| Posted by: ed 2006-06-06 23:38 |
| #12 Just how much does China actually buy from us Not a lot. What the US does sell is primarily high tech machinery. 2005: Exports: $41.8B, Imports: $243.5B Deficit: $201.7B 2006 US Trade deficit w/ China will be $240-250B, or same as the entire GDP of Vietnam w/ 85 million people. US-China Trade Statistics and China's World Trade Statistics |
| Posted by: ed 2006-06-06 23:34 |
| #11 "...Chinese demand - a market in which, for example, 5 million cars were sold last year..." Okay. But were any of those cars American cars? Just how much does China actually buy from us, that we can afford not to sell? But that's just me. -M Personally, I would like to see Chine implode like a sub below its crush depth, then consume itself in a cataclysmic civil war. |
| Posted by: Manolo 2006-06-06 23:08 |
| #10 America survived the "British Invasion" + Japanese Cars/Just-in-Time national mania + German "spare parts" national mania - we can survive China. |
| Posted by: JosephMendiola 2006-06-06 23:06 |
| #9 NS: It will happen, but the drag on the world economny will be temporary whereas the drag on China could be catastrophic. There's pleanty of empty maquilladoras. I beg to differ. The drag on the world economy will be huge - similar to taking Japan off the economic map. Besides, Chinese jobs won't move to Mexico - they'll move right back to Northeast and Southeast Asia, from which they came. (Mexicans don't make much, but they're not very productive by Asian standards). The problem is that there'll be this huge hole representing domestic Chinese demand - a market in which, for example, 5 million cars were sold last year (compared to 1 million cars in India). |
| Posted by: Zhang Fei 2006-06-06 22:21 |
| #8 It will happen, but the drag on the world economny will be temporary whereas the drag on China could be catastrophic. There's pleanty of empty maquilladoras. |
| Posted by: Nimble Spemble 2006-06-06 21:17 |
| #7 SteveS: I think the ChiComs should embrace Venezuelan-style Hugoism. The Communist Party is starting to look like the Nationalist Party (Kuomintang) before the Communists split off. What precipitated the split? The Nationalist Party purged its leftists, by dragging them out and shooting or disappearing them. It will be interesting to see if a factional war breaks out into the open today, and how army and police units line up. It could happen - and if it does, I expect the Chinese economy will go into the crapper, which will be a big drag on the world economy. |
| Posted by: Zhang Fei 2006-06-06 21:05 |
| #6 mojo's on a roll |
| Posted by: Frank G 2006-06-06 20:44 |
| #5 And they're supposed to be the future - at least at the end of the 21st century - they won't be able to manage it any more than the russkies. |
| Posted by: anonymous2u 2006-06-06 19:56 |
| #4 "Hold the Mao..." |
| Posted by: mojo 2006-06-06 16:44 |
| #3 “I think reform has gone far beyond the ability of the masses to endure.” Heh. Judging by the hellacious pile of corpses over the last few decades, there is no doubt some of "the masses" didn't hold up too well. I think the ChiComs should embrace Venezuelan-style Hugoism. No, it's not good advice, but it would be fun to watch. Plus between that, Venezuela itself and the Paleos, my Rantburg Popcorn Futures should go thru the roof. |
| Posted by: SteveS 2006-06-06 12:47 |
| #2 Nostalgia is widespread for the days of Chairman Mao Zedong when everyone was equally poor. Ahh! The punchline for communism everywhere. |
| Posted by: bigjim-ky 2006-06-06 12:39 |
| #1 “I think reform has gone far beyond the ability of the masses to endure.” "If, however, I were to be given a lucrative consulting contract by a multinational corporation, the masses might be able to suck it up a while longer." |
| Posted by: Matt 2006-06-06 12:26 |