Author: yuan_zcen

IMF: worst financial crisis since 1930s [Copy link] 中文

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Post time 2008-10-10 02:25:14 |Display all floors
Most Chinese people are awed by someone who owns a car. About 20% are awed by someone who makes more than a subsistence income. About 75% are awed by someone who can afford to travel outside of their own country.

And increasing numbers of Chinese people want the government to spend its foreign exchange holdings on the people, not continue to peg their currency or pile up funds for corrupt officials to spend on hookers, booze, private farms, cronies and ego projects. That's no small feat in a country where criticism of state-owned banks can get your newspaper shut down!

Face it Tong: China sucks and the more Chinese people who have a feed on what goes on outside, the more they demand their government be like the rest. It's inevitable because, frankly, no one likes to see their leaders enrich themselves at the expense of working people, not even the Chinese.
"Justice prevails... evil justice."

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Post time 2008-10-10 02:36:07 |Display all floors

True, it's been Most Edumacating

It's been rather amusing also, watching the arrogant Westerners who know so much EAT CROW.  

For decades the Yanks have sent China "business consultants" and "investment bankers"  that demand high fees and success bonuses.  These miscreants knew nothing of value, still don't, but the difference now is that the Chinese also see it that way.  

The Chinese people gets substantially unlimited "feed" on what goes on outside.  China already has the world's largest internet population, and growing at twice the rate of anyone else.  AND the more they see of the outside world, the more the Chinese love the CPC and their leaders.  Why?  Compared to the clowns running the Western societies, the Chinese leaders are smart, dedicated, humble, hard working, and likable.  And the results they deliver are still being hailed as "miraculous," "without peer", etc.  

What's not to like?

The current melt down in the West has been eye opening, fer sure; it has also been entertaining and edumacating, on how NOT to run an economy.  When a people reject hardwork on a wholesale basis, and instead try to rely on "clever" (how clever does it feel NOW?) financial maneuvers, the CDS will and does come back to bite those fat arses.

[ Last edited by tongluren at 2008-10-10 02:37 AM ]

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Post time 2008-10-10 03:11:49 |Display all floors
Hmm... China is still a third world country for the most part, once you get out of the cities.

The standard of living in the big cities is pretty decent though.

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Post time 2008-10-10 03:16:11 |Display all floors

It's Not just Where You Are

Where you're going is more important.

A people that sees its living standard double every 7 years, year in and year out for 30 years, now going on to 80, would be perforce more optimistic than one that does not .

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Post time 2008-10-10 10:23:50 |Display all floors
Originally posted by interesting at 2008-10-10 01:40
it will still be a poverty-stricken hellhole with little international respect.

In one of my former threads, I have mentioned that China's image is better than America. Of course if you want to take more responsibility in the world, you cannot satisfy everyone.

Will you respect China if it help U.S. through the crisis? Personally I hope China give a hand, because helping U.S. is helping itself. But it's not a small number. Think about it, would U.S. help China if their position exchanges? Absolutely not!

And look what U.S. did recently. It's not a good manner to call for help.

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Post time 2008-10-10 10:32:15 |Display all floors

Reply #12 tongluren's post

50 years is exaggerated. 20 years is ok. And then 30 years of 7% growth.

The key point is, when China grows up, U.S. sinks down, which makes the distance shorted faster.

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Post time 2008-10-10 11:06:58 |Display all floors

Reply #15 interesting's post

Last week, as Wall Street crumbled, about 70 executives of American International Group rewarded themselves with a week at the St. Regis in Monarch Beach, Calif. — and the $440,000 tab was a topic at tonight’s presidential debate.

The AIG group ran up a bill that included $200,000 for rooms, $150,000 for meals and $23,000 for the spa, according to a Washington Post report.

They paid tax-payers' money for their luxurious holiday. I felicitate China didn't give bailout.

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