Ignore the China hype

NY Post ^ | January 17, 2011 | Rich Lowry

[Scanian]

Judging by the past three decades, there's no worse fate than getting touted as the next global superpower.

The Japan of the 1980s did not end up owning the United States; it wallows in a never-ending "lost decade." The European Union of the 1990s didn't end up becoming a significant, unified force on the world stage; it will be lucky to hold together its currency.

As Chinese President Hu Jintao visits Washington, his country has stepped into the well-worn role of the emerging power that provokes exaggerated fear and misplaced envy.

Seemingly every few weeks a New York Times writer can't curb his enthusiasm for China's dictatorship. The Pulitzer Prize-winning columnist Thomas Freidman, who should be a candidate for honorary membership on the Politburo, has exulted: "One-party autocracy certainly has its drawbacks, but when it is led by a reasonably enlightened group of people, as China is today, it can also have great advantages."

That is to say, put aside the absence of elections and democratic accountability, the press censorship and jailing of dissidents, the coercive family planning and repression of religion believers, and the occasional mass murder of protesters. Besides that, how was the play, Mrs. Lincoln?

China is rising only because it partially adopted our economic system and plugged into the international markets we built and sustain. Without the economic liberalization that began 30 years ago, Chinese rulers -- enlightened or not -- would still sit atop a vast expanse of misery.

If China has come far, it started from the absolute dregs of totalitarian socialism. In 1978, GDP per capita was $240. It is more than 10 times that now. But that still leaves it between Albania and Angola in the world rankings. Its middle class remains a slice of the population...

[iopscusa]

Good post, a bit of sanity about Chinese economics. Love the tag on that unremarkable drone, the NYTs’ Tom-no-nothing Friedman!

[Squidster]

China has considerable social problems as well as economic problems. While it is generating millionaires galore, it is coming with ACTIVE government intervention and exploitation of low/slave wages for the workers.

This is never sustainable. That is why they will probably go to war with us.

[Former Proud Canadian]

There have been reports of 65 million empty apartment units in China. If that does not predict a crash in real estate, I don’t know what does.

[WilliamofCarmichael]

[P]ut aside the absence of elections and democratic accountability, the press censorship and jailing of dissidents, the coercive family planning and repression of religion believers, and the occasional mass murder of protesters.

Pulitzer Prize-winning columnist Freidman plagiarizing Pulitzer Prize-winning ancient Nytimese columnist Walter Duranty?

[G-Man 1]

Remember the old Brannif airlines? After deregulation they started to fly to every cow pasture in the country. Vastly over expanded. Seems like china is going into every cow pasture in the world. Could this be a new Brannif? Guess time will tell.

[Scanian]

Oh, I rmember them alright. My fiancee dumped me to take a nice job with them in KC in ‘75.

In a few years, after Braniff’s demise, she ended up delivering for Fedex.

[sergeantdave]

Damn ChiComms still can’t figure out how to anneal a bolt.

And when it comes to tolerances for critical manufactured parts, it’s plus or minus whatever.

[Hotlanta Mike]

Related post on the BBCNews.com

Hu Jintao visit: China’s hubris colours US relations

http://www.bbc.co.uk/news/world-us-canada-12209538