The Chinese Success Story
While the credit flow in economies like that of the US and the major European countries got mugged up, looks like the same in China went the other way and heated up, and will drive up domestic demand just when China needs it.
News is China is now officially the third largest economy, set to take the number two spot from Japan in a few years.
The Chinese success story is remarkable. China as a nation has a long collective memory. 800 years ago China was the number one nation on earth, it was not America. To the Chinese it is not about claiming the prize, it is about reclaiming the prize, reclaiming what was once theirs.
But America has democracy, America has diversity. Take the Bush Brain out of the equation, and this economy will sizzle again.
But if there is competition, it is not a race to the bottom. It is to be a win win situation. I just wish China did lend more of its money to the poor countries, and less to a country wanting to wage war.
But then China has put a major focus on Africa recently.
Even on democracy I don't see China copying America. There is a middle ground somewhere where the two need to meet. The democracy in America is not one person one vote. Loot at all the White Males in the Senate. These are Greek Gods. These are not democrats.
But the Chinese did beat the Americans at the Olympics. They got the most gold for the first time. It is as if they were saying, we know how to get organized.
And as to democracy, it is near impossible to meet Chinese in America who think China needs a different political arrangement to what it has now. These are not people in fear of the Chinese Communist Party. They are in America. The CCP is their own NAACP, making them proud.
In The News
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