By China Watcher
Western mass media had been circulating news that a China economic crash is inevitable and perhaps, in the next two years. According to them, China’s property prices, bank lending rate and inflation rate are symptoms of an overheating economy waiting for disaster to happen.
In 1995, there was a group of anti-China so-called “economic experts” with credentials from Harvard and from another US most prestigious university concluded that there was so much development going on in Shanghai at that time with economic growth spiraling at 25% that it is almost impossible to maintain. The experts predicted the “Shanghai Malady” will bring a total collapse of the Chinese economy in 10 years time. I wonder whether such bold predictions was a “fair” comment given the many “western experts” who have a hidden agenda to see China going down and probably, eliminate the “yellow” threat to a civilization dominated by the “white man” which is more real and significant than Japan poses in the early 70s.
Well, it is 2010 and is already 15 years and I have yet to see a Chinese bubble exploding resulting in the demise of the Chinese economy. In fact, the Chinese people and its government have proven these bias soothsayers wrong and wrong over and over again. Looking deeply, it is these Western media who are at war with the Chinese government and its people.
And then, there is another group of Westerners who tried to pit the Chinese against the Indian. This group would love to see India overtaking China in every sphere of the economic activities. Why? Because India represents the largest DEMOCRACY and China is still COMMUNIST. Is it wrong of being a Socialist State? These communist haters are all over the place and they are represented by the “hawks” in the US Congress and the military and in various parliaments in Germany, Spain, Italy and United Kingdom.
As pointed out by one of the articles from iCapital, it is India economy most likely to follow the path of Greece rather than China. Why? The Indian economy has a high persistent level of budget deficit, external trade deficit, greater degree of social ills and also a high inflation rate. In contrast, the Chinese economy is far better managed. But the West has been relatively quiet on the Indian economic development but love to pick on China at every opportunity.
Maybe, the China bashers are also human rights “bed partners” because you cannot separate them. The China bashers are also lovers of the Dalai Lama and the dissidents in Xinjiang and continue to highlight whenever there is slightest sign of troubles inside the two Chinese provinces. The Western governments except Russia had been playing a “two-faced” political game with China - by supporting China’s sovereignty on the provinces but also, instigating the dissidents to overthrow its ruler. Of course, the hidden message is that they cannot see the rise of the “yellow community” outshining them at their own “civilized” game in political influence, economic assistance and cultural importance.
Unfortunately, to these Goldman Sachs or Bloomberg economists, the facts of the matter do not support a China crash if these world’s readers are smart enough to see through their devious attempts. I had to point this out to the many internet readers the “white-man” dream. I am not racist and I do have some very nice Caucasian friends. I am also not an extremist as the world is big enough for everyone. I just do not like one single race professing that they are much superior than others not in merely words but also in their actions. And not all Western cultures and practices are good for everyone. I still believe in the saying that, “there is no one solution that fits all.”
I will continue to challenge those China bashers (with a hidden agenda), though I am in the minority, and hopefully there will be lots of people who can rise up and tell these people to mind their own business and look at their own problems in its own backyard first (USA, UK, Spain, Germany, Italy and France just to mention a few of those Western countries).
I personally do not see a China crash and in fact, I foresee a soft landing in the next one year.
Let us see who is right.