Posted on 04/14/2009 3:54:11 AM PDT by Cindy
The April 2 Leaders Statement issued at the close of the G20 economic summit proclaimed, “We start from the belief that prosperity is indivisible; that growth, to be sustained, has to be shared.” A noble sentiment, but not one many of the participants actually believe. The Chinese certainly do not believe in sharing, as they are working hard to exploit the world-wide economic crisis to their own advantage. Beijing is staking out a position on the global stage as the strongest national economy so as to win entrance into international organizations and councils as a peer competitor to the United States. Its message is that the Western model has failed, and that American “hegemony” is at an end.
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ping
LLS
I think China is sitting at a similar spot that we were right after WWII. They have the products that everybody wants to buy and they still have large cheap labor pool to exploit.
The thought of Chicoms should be revised to Chicaps. It is the business people in China and out that are making the economy grow. The natural Chinese business ability has been suppressed for half a century.
The growth of Chinese business is natural competition that was not previously present because it was not permitted by the communists. Although there is still a communist controlled government, the competitive forces are capitalist in nature.
The way it's phrased, the author makes it sound as though it is uniquely Chinese. But during the Asian financial crisis (late 90's) , many fund managers from the US and Europe scooped up businesses throughout Asia for cheap. During any financial crisis, there will always be those that know how to bottom fish. And the Chinese have learned from the best ;)
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