Rantings of a Sandmonkey
It just might take China down for a long while!
Sounds reasonable, and I won’t shed many tears over Chinas misfortune, but it’s too bad that Taiwan and South Korea will get hity equally hard.
I don’t know. Cheering for China’s “comeuppance” is like cheering for your school to burn down…who loses in the long run?
I never understood the China bashing from the vast majority of American conservatives. It seems a little immature given that most conservatives in the US don’t seem to be anywhere near as informed about internal Chinese politics. They’re all over the Republican Guards and can tell you who their favorite Iranian opposition group is, but as them to correctly spell China’s current premier and 80% would be completely clueless.
Jim, I think it’s just a gut-reaction to China being the worlds biggest tyranny and the occupier of several sovereign nations… and getting away with it.
I don’t see the school-analogy as being very fitting, really. I do, however, feel sympathy towards china’s population, who have just recently experienced some form of material wealth and the comforts that come with it. I also see a problem with the chinese economy failing, since this is the only thing that has, albiet slowly, brought some semblance of modern standards to the country. A positive process might suffer because of it…
I never understood the China bashing from the vast majority of American conservatives. It seems a little immature given that most conservatives in the US don’t seem to be anywhere near as informed about internal Chinese politics.
I don’t understand that comment at all. The US and China have a better relationship (politically) than most people think. And Americans don’t dislike Chinese… in fact, I would say rather the opposite. That is due largely to the efforts of American conservatives. The friction between the US and China is mostly on the economic front, and that’s “just business” as they say
I am no expert on this matter but it seems reasonable to me to think that China will recover just as quickly the moment World economy picks up, especially that of US.
If the economic crisis hits China like it did the US in 1928, as this article speculates, chances are China will be suffering the consequences for years after the rest of the world has started to recover. China will have to enforce some big old reforms to counter a stagnant production sector, and even though China is well-versed in blindly taking orders from the top, the top is not as flexible nor as resolute as the US ditto in 1928.
That being said, this crisis does not look like it’ll even begin to compare with it’s 1928 counterpart – I doubt China will see anything that’ll compare to the deflation the US experienced back then.
I also don’t think any country will see the deflation that happened in the US in 1929; there are controls (especially insured bank deposits) that didn’t exist in 1929.
Aside from that, why is everyone celebrating economic hardship for China? I know the government is awful, but do you want the Chinese to suffer? I think that a serious downturn would only bolster tyranny in China.
It’s true that, in the short run, the great economic growth in China is ironically bolstering support for the regime. The Communist Party has won popularity because of the prosperity it’s fostered, and it remains the main source of influence and contracts that entrepreneurs need. But in the long run, I still think that the free economy and some greater freedoms in the society will foster pressure for greater freedoms still. It’s not a done deal; the Chinese government is still aiming for the “Asian mode,” i.e., free economy plus one-party rule. But it’s a possibility.
Having spent some time recently in China I can tell you that the Chinese people are on board for a free society. I would not wish them harm. Their gov’t on the other hand… Maybe you should take a few of those giant Mao pix down…
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