Zakaria and Washington Post Are Wrong About China
There is so much misinformation coming out about China in the Western Media because there are so few people who have lived in the China economy and watched the China policy making in action.
Today the Washington Post released a letter to the editor from Joseph A. Bosco. This guy is a clown from the Bush / Cheney administration who lives and breathes hatred without knowledge. He used the grade school spin that the Bush administration is famous for in seducing the American public into wars and hate crimes.
He stated “Remember when China was awarded the 2008 Olympics before making promised progress on political reform and human rights, which used to be a precondition for such a national honor?”
Nice spin school boy. It was the Olympic committee that required the improvement on human rights as a condition to the games being held on China soil. The reason why they did not push harder than that is because there are so many skeletons in the closet of my own country. Nicaragua, Guatemala, Guantanamo, Iraq secret prisons and now Libya and the crushing of the Palestinians are just a few of the publicly known horrors that Americans have to live with from bad government thanks to people like Joseph A. Bosco. At best, Bosco just stayed quiet about the damning events that happened while he was at the Secretary of Defense office. Most likely he created and put forth some of the suggestions to torture, and even to kill. So for him to be the American that pulls the “human rights” card is like James Earl Ray suggesting reverse discrimination.
Now to Zakaria’s article. This article is filled with some good data about the state of economies of several significant nations. Where it completely loses its validity is when it starts discussing the IMF and the need for consumers. Let me explain.
The time has come for China to adopt a broader concept of its interests and become a “responsible stakeholder” in the global system.
This could be the spur to giving China a much larger say at the IMF
Responsible Stakeholder? The IMF has a horrible track record of bankrupting countries. The loans are to give business to its own “preferred companies” through “technical assistance” and it cripples the countries with the debt. If you look at the historical debts, reasons for loaning the money, and the companies that profit, you will realize that the IMF is not the place that China should look to help stabilize the world economy.
The real problem is Italy, not Greece. Greece is a nano-state, representing 2 percent of the European Union’s gross domestic product. Italy is a G-7 country. Italy’s debt is 1.9 trillion euros, or 120 percent of its economy and greater than the debts of Spain, Portugal, Ireland and Greece combined.
In addition to the poor track record of the IMF, China knows that in becoming a greater part of the IMF they simply put themselves more under the control of the private banks in America. If Italy is in such bad shape with a debt of 120% of its economy, then why isn’t America seen as being in equal crisis? Our debt will soon match their percentage and it is already over 100% of our economy!
Lastly, there is the statement, “China would lose greatly in such a scenario because its consumers in Europe and America would stop spending.”
This is the greatest misunderstanding. It is the basic misconception that consumers “disappear”. That American and Europe are the most important markets on the planet for retail sales.
Welcome to the shift. The consumers are not disappearing. Most of the consumers in the world are NOW IN CHINA. China is just like America in the 1950’s. It has critical mass in its own development. Their focus is internal and it has a 20 year boom ahead of it. America and Europe should take a lesson from the China economy. Wars and the IMF drain the funds from your national budget necessary to maintain prosperity. Redirect those funds to infrastructure and technology and you will have a bright future.
America and Europe have switched from building their futures to the business model of a loan shark. There is no future in it. My country and the countries who depend on their financial sector for all jobs and income will continue to suffer and see the horrible segregation of their societies into a few ultra rich and a mass of pitifully poor. America now has 1 out of every 6 Americans living in poverty.