Tag: China

In Africa, Chinese Developers Are Building A Mini-China

Development is happening quickly, though not as quickly as megacities grew in China. Of 50 economic zones planned nine years ago, only six have been built. Developers are struggling to adapt to the differences in various African cultures and differences in governance. “I think from Chinese point of view, the biggest danger is corruption in… Continue reading In Africa, Chinese Developers Are Building A Mini-China

China’s Middle Class Chafes Against Maze of Red Tape

China’s Middle Class Chafes Against Maze of Red Tape

China’s middle class — wired, ambitious and worldly — is increasingly unwilling to tolerate such obstacles, the vestiges of a capricious Mao-era bureaucracy that still holds sway over most of the important aspects of people’s personal lives. For many educated city dwellers, it is red tape, more than news media censorship and heavy-handed propaganda, that serves as a grinding reminder of the Communist Party’s dominion over their lives. “The government isn’t there to make our lives easier,” Ms. Li said. “They’ve set up all those rules so the people are easier to control.”

The venn diagram of oligarchy and police state is pretty much a circle. And Oligarchs only care about restrictions on capital. Now that China is developing a middle class, heavy handed bureaucracy is far more unwelcome.

Blaming China Masks our Real Economic Problems

Blaming China Masks our Real Economic Problems

For the most part, the response of economists to the candidates’ exchange over trade was highly negative. Economists are strong advocates of open, unimpeded trade between nations, and with all that economists have done to promote the idea that specialization and trade is mutually beneficial – an argument with the public that has persisted for hundreds of years how could the candidates regress into this primitive mercantile thinking?

Worth a read.

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An examination of U.N. and Chinese trade data reveals that exports to North Korea of products including cars, tobacco, laptops, cellphones and domestic electrical appliances all increased significantly over the past five years. Luxuries Flow Into North Korea – WSJ.com

America’s creditor identifies its budget problem

The chief of the General Staff of the People’s Liberation Army, Chen Bingde, told reporters he thought the U.S. should cut back on defense spending for the sake of its taxpayers. He was speaking during a joint news conference in which he traded barbs with visiting U.S. counterpart Adm. Mike Mullen. “I know the U.S.… Continue reading America’s creditor identifies its budget problem

Higher Inflation Would Slow U.S.-China Currency Adjustment | ThinkProgress

Kindred Winecoff introduces the excellent point that the fact that the U.S. is experiencing an inflation rate that’s lower than China’s means that the real exchange rate is adjusting faster than the nominal rate. Consequently, “[t]o the extent that we want to boost employment through exporting, increased inflation could prolong that process.” Or to look… Continue reading Higher Inflation Would Slow U.S.-China Currency Adjustment | ThinkProgress

China’s Dangerous Lower Middle Class

Back in the 1990s it was often fashionable to argue that increased prosperity would magically transform China into a more liberal political system. Today, that’s clearly not the case. What we’re seeing here, though, is the more likely mechanism for political change—dashed hopes. Peasant farmers often just feel beaten-down and resigned to their fate. But… Continue reading China’s Dangerous Lower Middle Class