Friday, February 10, 2006

China No Longer Red Nor In The Red

Forward Into The Past could be the motto of modern capitalist China. China could eradicate poverty by 2050: think tank Or perhaps its backwards into the future. China frets over widening income disparity

As Comrade Lenin once said One Step Forward Two Steps Back applies to China.
‘Democracy-less China laid waste' Pollution has become one of the biggest tests for the Chinese Communist Party but a lack of democracy stands in the way of an easy remedy, a newspaper on Thursday quoted a top environment official as saying.
China's Toxic Capitalism
China Reports Rise in Coal Mine Deaths

He also said that 'socialism was state capitalism with electricity' which also applies. China unveils blueprint to become world power in Science & Technology

Ironically the only people who still believe that China is Red are those retro politicos like unrepentant Stalinsts/Maoists, ultra-Trotskyist sects and the vast majority of the American Right Wing.

China is no longer Red nor is it in the Red.
China planning to set up gold fund
China becomes a net vehicle exporter in 05-official
China 2005 non-financial overseas investment up 25.8 pct at 6.92 bln (US))
China leads developing countries in trademark applications

While China transforms from a sole monopoly state capitalist economy into a growing Monopoly corporate capitalist economy before their unbelieving eyes.
China established nine FTAs in past five years

Sure the CPC is still in control politically but the party in power does not alter the nature of the political economy of a country, ideology does not trump economic fact. And the fact is that China is opening up its state capitalist economy to a market model, with state funded monopolies not unlike other countries. For instance China and Saudi Arabia are a natural fit.
China Challenges US over Saudi Oil

India booms but -- unlike China -- democracy dulls the tiger's claws

There is a lingering doubt that the Indian tiger will be roused from its 50-year sleep. India is not China; even as the Sensex soars, the government reached a deal with airport workers, promising them job security after a five-day strike created stinking rubbish heaps. Where China's despotic gerontocrats can bulldoze teeming slums for new highways, India's leaders must negotiate. The government sees a need for an extra 100 gigawatts of power by 2012, but the dams and power stations will be fought every inch of the way by petty officials, hysterical NGOs and any babu after a buck.

It's the price India pays for democracy. The country's rapidly expanding middle class is the growth engine but it is the 200 million locked in poverty that could push the engine off the rails. Half a century after independence, literacy is 63 per cent, a reproach to the buyers of a million cars that emerge every year from India's shiny new factories.

And it has opened itself up to the world market and the market has responded with the first WTO meeting ever held in China. Ok it was Hong Kong but that is still China. By playing by the WTO rules Chinese corporations and investors even offshored their textile plants to Africa in order to bypass textile regulations that restricted its marketing cheap textiles into the G8. And as soon as that regulation was dropped this year they shut those plants down. Just like any other capitalist company would do.

And freedom loving democratic capitalist corporation like Google and Yahoo have responded to Chinas growing technologically accessible consumers by doing business with and in China, with little concern of the government in power.. Yahoo accused in jailing of 2nd China Internet user

And the US is mightly afraid of it, as the only global super-power that can challenge it.

Pentagon plays up "China threat" to secure more military funds

US senate legislation seeks to repeal China normal trade relations ...

Today’s cost-benefit equation decisively favors the U.S., but that balance is shifting. The U.S. is losing manufacturing capacity, and becoming more dependent on Chinese imports. 2005 data will show that the U.S. trade deficit with China grew 25 percent. Meanwhile, China’s manufacturing capacity and sophistication are increasing. Time is therefore on China’s side.Who's Afraid of China?

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