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bushier Post time: 2015-9-23 21:17
Consumption driven economy is sustainable and can last a very long time as long as there are cheap ...
Sorry, you are wrong both in theory and in praxis.
In theory, because no matter how you try to complicate the picture, if you consume more than what you produce, you have to consume what others produce, which you can obtain only by using your savings to buy, borrowing from others to buy what they produce, or you steal from them by force or by fraud. There is no way out of this IRON-CLAD LOGIC, whoever you are, whether you are Li Keqiang or Xi Jinping. You cannot make 3-1-1-1=1. Period.
In practice, because Singapore was growing fastest when it was a producer-driven economy, as was Japan. When they became lax and more used to enjoying their wealth, their growth rate declined. Japan's has declined more than Singapore's such that without China giving Japan all the advantages of a lower exchange rate of 50% compared to 2012, Japan right now would be a country of beggars. Instead, China is making beggars out of its workers, and forcing its factories to shut down, so that Japan's can survive. Treason.
Let us see what other reasons China's Japanese Lover Boys have to say to cover up their brazen attempt to force China into recession, bankruptcy and foreign indebtedness, all of which are going on right now, in the name of hahaha, hahaha, hahaha, "defending" the treasonous OVERVALUATION OF THE YUAN TO THIS DAY.