Author: middleway

China Has "Officially" Entered The Next Level Of Development [Copy link] 中文

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Post time 2008-5-25 07:57:41 |Display all floors

If you are so smart , why aren't you rich ?

This posse of have-beens are whiling their time reminiscing about the wonderful days of exploitation of others . They cannot string two sentences together without tripping themselves up and they want to gag us ! ?

China is developing nicely , thank you very much .  If you have any doubt , check all they things you use , wear and eat at home .  How many of them are " made in China " and how many are made at home ? If this is a struggling developing nation , give us more of it .

MW :   If you have all the answers , why are your lot losing out front and center to the rest of the world ?  Australia is now literary digging itself up to sell to China . There are three bright spots on the economic horizon for Australia  : China, China & China .

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Post time 2008-5-25 07:59:13 |Display all floors
Originally posted by middleway at 2008-5-24 20:47
....and CHina was the only nation they came across that didn't actually want anything off them because they were already more developed. And the British Empire did not know how to handle that, it threw them into all sorts of confusion... "What? A nation that doesn't NEED anything off us? A nation that is MORE DEVELOPED than us? The mighty British Empire?! Impossible!"  ...


One could equally accuse China's leaders of such arrogance that they thought they needed nothing from the "barbarians", distorting the balance of trade. (a bit like china does now via artificial currency controls)

It is reasonably well known that the Chinese wouldn't accept the British horse drawn carriages partly because the carriage driver would be mounted higher and with his back to the Emperor !
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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Post time 2008-5-25 10:30:38 |Display all floors
Originally posted by emucentral at 2008-5-25 07:59


(a bit like china does now via artificial currency controls)


Hmm. My understanding of a currency exchange rate is that it bears little or no relation to any real asset worth and is pushed up and down as the result of speculative trading aided and abetted at a government level when it doesn't go in a desirable direction. So all countries play games with their currency to achieve an artificial value that they prefer.
(mostly harmless)

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Post time 2008-5-25 10:37:58 |Display all floors
Originally posted by tongluren at 2008-5-25 05:52
There's actually a 4th stage that was left out.

Permanent Decline.

Quite a few of the western countries are in the first stages of it.   ...


That thought crossed my mind as well. History has shown us that no empire will stand the test of time.

Perhaps not permanent but certainly signs of a decline.
(mostly harmless)

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Post time 2008-5-25 10:53:12 |Display all floors
China has learned, bitterly, from the 2003 onslaught of SARS.

It will learn, more, and much more bitterly, from the 2008 calamity of the Killer Quake in Sichuan, I believe.

Though some may remain to refrain from being completely transparent,   (perhaps to save face for some, perhaps acting as a Chinese clandestine way to reflect, reform and redo,  and perhaps for other reasons), I would say the horrific tragedy will leave a long-lasting mark on China's Government:   a government bent on improving its job, and delivering to its people.

My suggestion:  Reflecting your past work deeply, keeping good management of China's economy, and earmarking more of the proceeds to rural infrastructure !!!!

The poor, the voiceless, the weak, the little,  the rural folks deserve Better Treatment.

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Post time 2008-5-25 10:59:24 |Display all floors
Kodama,

Developed here means that a country is at the technological frontier of its era and cannot possibly enjoy  accelerated growth due to absorbing already-invented technologies.
"Justice prevails... evil justice."

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Post time 2008-5-25 11:57:57 |Display all floors
Originally posted by fatdragon at 2008-5-25 12:30
Hmm. My understanding of a currency exchange rate is that it bears little or no relation to any real asset worth and is pushed up and down as the result of speculative trading aided and abetted at a government level when it doesn't go in a desirable direction.


I don't think you're wrong there.

Most developed western countries have a freely floating exchange rate. What the market will pay.

Of course this has been used by unscrupulous crooks, like Soros, to make billions by unproductive speculation on currency movements, at the expense of citizens of the country on whose currency he speculates.

An argument of our former glorious Australian treasurer and later Prime Minister, the reptilian Paul Keating, was that Australia's dollar had to be "floated" in the early 1980s, to stop speculators enriching themselves.
It had been subject to a managed exchange rate up until then, and when it was floated, um, well it promptly sank.
No matter whether the currency is "fixed" (as with China's) or floated (like the OECD countries), the speculators will have a way of getting their dirty little claws onto someone else's hard-earned money.

In the case of China, it is well known that most economic commentators say that the currency is undervalued. This gives China's exports an artificial subsidy (at the expense of the international buying power of Chinese consumers & non-Chinese manufacturers).
China, naturally, wants money to flow in to the country, from overseas, just like they did 200 or so years ago. If the Yuan was allowed to float freely, Chinese exports would be more expensive to the rest of us, and the amount of cash inflow (for Chinese exports) could be expected to drop a little, and Chinese consumers may also be more likely to spend more on imported goods, as they would have greater buying power.

China's stance on its currency value is understandable, justifiable (from a purely internal viewpoint) and is acting in China's current interests.
Let's just not pretend it is a "level playing field", or "free trade".

[ Last edited by emucentral at 2008-5-25 01:59 PM ]
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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