DAVOS SPECIAL: CRISIS WINNERS

Why China Works

A look at bright spots in the recession begins with Beijing, where state control is looking smart.

By Rana Foroohar | NEWSWEEK
Published Jan 10, 2009
From the magazine issue dated Jan 19, 2009

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  • Posted By: Observerguy @ 03/22/2009 6:46:58 PM

    Would somebody answer "maritalguy"'s questions for him. They're tough. I grew up lazy, with little discipline and litle interest in anything but my motorcycle and girls. Surely there's hope.

  • Posted By: martialguy @ 01/23/2009 3:06:32 PM

    What hope is there if the youths embrace laziness, videogames, TV, internet, cell or IM chatting, entertainment, sports, musics, booze, drugs and many non-productive activities; and shun math and science. What hope is there when parents are stripped bare of tools to discipline their chidren; while TV and jails become educators?

    Purchase-power-parity adjusted GDP projection for the US will be 17 trillions; China 14 trillions by 2013 ( Wikipedia)
    Current US external debt is 12 trillions and China one-third of a trillion ( CIA fact-book)
    Current US foreigh reserve 70 billions; China 1500 billions
    Current US annual deficit could be over 1000 billions this year ; China surplus 370 billions

    Who can last longer?
    A) A guy who makes 17 grands annually, owes 12 grands in total debt, has $70 in the bank, and shortfalls 1 grand a year
    B) Another guy who makes 14 grands; owes only $300 in debt, has $1500 in the bank, and surpluses $370 a year

    The answer is
    It doesn't matter how long each can last. If they don't co-operate then both shall fall. They have become inter-dependent. Just like rain and oceans need each other to survive

    • Posted By: LazyEyes @ 01/24/2009 3:19:51 AM

      As if the 30s weren't a lesson in protectionism. Yet recent rhetoric from Geithner, suggest that labor unions have Obama's ear. What people should understand that manufacturing is dead in USA, with exception of high tech. Due to the strong dollar export is uncompetitive due to higher wages and more expensive prices. Should the dollar become weak it would end the 'dollar hegemony' ending the petrodollar and its position as the primary forex currency. Even if import from China becomes too expensive due to growing regulation and wages, it would simply move to Vietnam and other S.E. Asian nations. Compiled with the deteriorating infrastructure for the production of manufactured goods means heavy investment would be required to revive it. Besides why would you want to go backwards? Every industrialized nation moves away from manufacturing industry to a service model as it is more lucrative and more skilled.

  • Posted By: smiddy @ 01/22/2009 1:28:26 PM

    If the Chinese official grasp is still such a strong one then why would you believe the figures that are provided on the alleged strength of their economy?

  • Posted By: oldweeker @ 01/16/2009 1:30:11 PM

    There have been lots of talk about the threatn of China. If you have any brain, have a look back at the world history and you know whta countries made all those wars.
    America, German, and Jap are the biggest threats. ANd Israil

    • Posted By: doctormoe @ 01/18/2009 3:14:24 PM

      The conquered/annexed nations of WW2 era are mosly now liberated, including those of the Soviet empire. The only significant exeptions are Korea still artificially divided , East Turkistan, Mongolia, Tibet still divided/occupied. Today's repressive empires will soon crumble from the rot.

  • Posted By: ericericeric @ 01/18/2009 1:22:34 AM

    Chinese government is not the one taking about China's growth. Actually it has been down playing that.
    But even if you haven't visited China and see the rapid modernization of the country, I guess you must buy things. How many things you buy are not made in China? China already has the world's first commercial megleve high-speed train.
    And will soon have one of the world's most advanced high-speed rail system running 300 km//hour. This year, FedEx ordered 25 Chinese made commercial airplances. And China will be the 3 country to design and make jumbo jets. China holds most of US foreign debt. Obama's economic stimulaus plan is uncertain until it secures China's commitment to continue buying its treasuries. Is that still not enough? Should I go on?

  • Posted By: NotSoBigMac @ 01/17/2009 12:49:20 PM

    As I was reading your article about China's amazing growth, a question kept nagging: Says who? The Chinese government, that's who. They would dearly love everyone to believe their economical statistics, because they are very self-congratulatory.

    For years we have been hearing about how Chinese economical reports are maddeningly unreliable. Now they are reliable, all of a sudden?

    • Posted By: LazyEyes @ 01/17/2009 3:52:54 PM

      If thats the case then USA is in really in deep ***. I admit there are some inaccuracies especially with the wide-spread corruption. However the statistics are not entirely unreasonable even if you assume all Chinese have about 1/4 the income of the avg American, then China be would rated even higher than its current numbers state due the sheer size of its population.

  • Posted By: LazyEyes @ 01/16/2009 12:58:40 AM

    Sad really, I have yet to see any article mentioning China not degenerate into a political diatribe on China. Are people so narrow minded that an entire nation be represented as oppressed and mindless?
    The article merely suggests that America could learn something from Chinese economic policy. Yet people are claiming such action will result in child labor, collapse of health standards, and etc (everything that???s un-American) overnight. Really? You really think that???s going to happen? If you do you have my sympathies, because I truly am sorry.
    In reality people are using fear and pride to sow seeds of prejudice and ignorance while masquerading under keywords like 'democracy,' 'freedom,' and 'human rights.' Probably they do so in order to express American or Western superiority to Chinese and calm their fears and anxiety over China.
    I will be the first to admit China has problems. It is run by an oppressive regime and has issues with human rights, corruption and product safety, everyone knows this. Yet change has to come from inside and will not be hastened by tirades of outsiders. No such rants only stroke the flames of nationalism and discredit moderates. If the Chinese people want change then it is they who must make it happen, not YOU.

    • Posted By: doctormoe @ 01/17/2009 3:47:31 PM

      Just as it was up to the Germans in 1940 to change their treatment of minorities and conquered groups or for that matter the Japanese people ONLY change the 1930's Japanese policy towards conquered groups ??????????
      My answer as to WHO will definetly NOT dictate to me what I am allowed to express is YOU.
      Too bad you won't also admit that Chinese Nationalism and support of Colonial practices ( however disguised ) is absolutely the concern of every decent human person.

  • Posted By: Korean1Korguryo @ 01/17/2009 4:25:45 AM

    To eric

    I ask you question because your blinded by ignorant Chinese Pride. I ask how to teach Chinese to Chinese Autistic student?? Can you teach Chinese language to Chinese Autistic Children??

    You get so offensive. Your one of those uneducated Chinese lunactic radical students born in 1970's.
    I ask you simple logical question but you couldn't answer my question. If you honest person answer my question.
    Can you teach 5 thousand year old Chinese language to Chinese Autistic chidlren??????????????????????

    • Posted By: LazyEyes @ 01/17/2009 3:40:04 PM

      Yes you can. There are many 'geniuses' considered autistic... http://en.wikipedia.org/wiki/List_of_people_on_the_autistic_spectrum


      P.S. Besides your figures on China are highly misrepresented and skewed. Since China has such a large population 1% of it is much more than than say 1% of S. Korea.

      http://en.wikipedia.org/wiki/People_speculated_to_have_been_autistic

  • Posted By: EdgarLee @ 01/17/2009 4:23:21 AM

    Sorry, editor, i posted the same comment twice. Please cut one of them, Thanks!

  • Posted By: EdgarLee @ 01/17/2009 4:10:30 AM

    There are about 160000 korean people living in Beijing. But now most of them had to leave Beijing for South Korea because their money become cheaper in China. In early 2008, the rate between Chinese RMB and Korean yuan is about 1:130, but now it is 1:230. These Korean people can not afford the house rent and dining expense. Some korean enterprises in Beijing, QIngdao and other Chinese cities had to close door. BUt these korean boss left China before by stealth and their workers cannot get any payment for their work.

  • Posted By: EdgarLee @ 01/17/2009 3:51:53 AM

    I am in Beijing and my neighbour are several Korean students studing in Univrsity of International Business and Economics. Chinese people are kind to these students from South Korea, but i don't know why Korean people hate Chinese so much. They write some words on wall beside elevator. A people who know Korean language tell me these words mean "Chinese pig". Today they will leave the university for South Korea for the coming winter holiday. Last night they threw eggs from their appartment windows and my car was dirted by one of eggs. Why Korean people behave too bad in other country?We find no such bad behavour among students from USA, France, Japan, etc.

  • Posted By: EdgarLee @ 01/17/2009 3:51:18 AM

    I am in Beijing and my neighbour are several Korean students studing in Univrsity of International Business and Economics. Chinese people are kind to these students from South Korea, but i don't know why Korean people hate Chinese so much. They write some words on wall beside elevator. A people who know Korean language tell me these words mean "Chinese pig". Today they will leave the university for South Korea for the coming winter holiday. Last night they threw eggs from their appartment windows and my car was dirted by one of eggs. Why Korean people behave too bad in other country?We find no such bad behavour among students from USA, France, Japan, etc.

  • Posted By: oldweeker @ 01/17/2009 1:41:24 AM

    Korean is one of the very few countries that hates all its neighbors. II'd like to remind tthe koreans that you should forever remind prostrate before USA so you can expect to live on with the the protective umbrella.

  • Posted By: ericericeric @ 01/17/2009 12:40:47 AM

    No, I am talking about the young Korean university graduates coming to work and study in China and then they decide to stay. If you need me to send you Chinese history, then you are ignorant and unteacheable, or you need to see a psycheatrist.

  • Posted By: Korean1Korguryo @ 01/17/2009 12:38:04 AM

    Let me rephrase it again. HOW CAN YOU TEACH CHINESE AUTISTIC CHILDREN CHINESE LANGUAGE???
    SHOW ME YOUR 5 THOUSAND CIVILIZATION TO ME. HOW CAN YOU TEACH CHINESE AUTISTIC CHILDREN CHINESE LANGUAGE??? SHOW ME YOUR 1.2 BILLION CHINA PRIDE. HOW CAN YOU TEACH CHINESE AUTISTIC CHILDREN CHINESE LANGUAGE??????????

  • Posted By: Korean1Korguryo @ 01/17/2009 12:35:09 AM

    Comment reply to ericeric-etc.

    Please tell me how can you teach Chinese Autistic children 5 thousand years, 1.2 billion China Pride Chinese characters.
    Eric, show me your 5 thousand years civilization or 1.2 billion China pride.

    Korean have been living in Northeast Manchuria before Han-Chinese. Get your fact correct.
    There are 3-4 million Korean-Chinese living in Korean " Self Governed" region in Jilin Province.
    Kando is ( Korean word for Manchuria) alone 3-4 Million Koreans living/ working in Koryo-Chosun ( Kando Region).
    Those thousand of Koreans your talking probably be " Hwaque" overseas Chinese-Koreans from Shangdong province. By Korean Law they are not Koreans. They are labeled as Overseas Chinese in Korea. I also heard Overseas Chinese in Korea moving back to China.

  • Posted By: Commenta @ 01/17/2009 12:28:15 AM

    Very much confirmed that Korean1Korguryo is very childish and immature.

  • Posted By: ericericeric @ 01/17/2009 12:23:52 AM

    He is not just childish. He cannot think logical. He only knows Korea survived 5000 years. China has a much longer history than that. Korean got most of their civilization from China. That was true before, and will be true in teh future. In the last 50 years, Korean parents want to send their best kids to USA. Now, they are sending them to China. In Beijing alone, there were hundreds of thousands of Koreans living there. As soon as they arrive, they don't want to go back to Korea.

  • Posted By: Korean1Korguryo @ 01/17/2009 12:15:10 AM

    Reply to commenta

    Stop repeating about yourself. If you cannot handle the truth. Not my problem. If you have self inferior complex
    please go see psychologist. Don't do it here.

  • Posted By: Commenta @ 01/16/2009 11:44:15 PM

    This Korean1Korgryo seems childish and immature.

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