The transition is taking place

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday May 27, 2010, 6:19 pm EDT NEW YORK (AP) -- Stocks had another turnaround Thursday and rocketed higher after China reassured investors it doesn't plan to sell the European debt it holds. The Dow Jones industrial average surged nearly 285 points. Treasury prices tumbled as traders funneled money into riskier assets like stocks and commodities. China's show of confidence in Europe let the market resume a rally that stalled late Wednesday following a report that the Chinese government was considering cutting its European debt holdings. If that were true, such a move would have signaled that China didn't think Europe would be able to contain its debt crisis. The agency that manages China's $2.5 trillion in foreign reserves denied the report.... The above passages are signs that the world leadership is slipping from the fingers of the American and into the Chinese. A few words by China are enough to bring a rally in European and American stock markets while Timothy Geithner's visit last week yield practically not even hot air. The weight that China carries in the financial world is evident in contrast to the mess the Americans carved themselves into by the very best financial gurus they have produced from their best universities. These unethical selfish individuals are out there doing their best for their own pockets with total disregard to the ruins they are creating. Obama is trying his level best to put a lease on these crooks but unlikely to succeed as nearly everyone in Congress is probably being paid by these guys or their institutions. The bills may be passed, but the implementation is another matter. In the meantime the American financial system, including the Europeans, will continue to wind down and implode. On the military front, the hawkish and warmongering policy of George Bush of pre emptive strike comes under the limelight. This cowboy gun firing policy, the right to invade any country on the ground that the US claims that it is a threat is now being abandoned by Obama in name. In practice, the policy is still in practice as is seen in the Korean peninsula and the Middle East. Just brand the countries as a threat to American interests and it is up to the Americans to decide when to invade. The world must be feeling very disgusted with the evil Empire and Obama knows it. Unfortunately the little girl is still innocent about what she is doing and is waving the flag of war in Korea. More sanctions, more war games and provocative actions against the North on a charge backed up by evidences that are highly suspect, like the WMD evidences. She is still continuing with the Bush Doctrine of starting war everywhere. As the world wisen up to the deeds of the evil Empire and their bankrupt policies and treasury, I wonder when will they jump ship and let the boy to continue crying wolf and playing the pipe piper to lead the world in financial ruins and war?


Anonymous said...

The Chinese are humble people that spent as little as they can and put the extras under their pillows. Other than the prodigal sons, the Chinese skimp and accumulate more than they should spend.

Traditionally and historically, the Chinese do not make money from paper trades except in their gambling leisures. This, however is changing, China is aping the Americans and Europeans in non-produce(goods) tradings such as insurance and other creative financial products. Hopefully, the Chinese Leaders will be able to effectively rein in those involve in the businesses. Otherwise, whatever financial woes the Europeans and the Americans are facing now will happen to China as well.

As one pioneer in the arts of wars(Sun Tze?) and invention of gun powder, China had hardly went to wars or invade other countries nor sell much weaponries to others. Its' diplomatic missions in the past and present have always been to build friendships and peace.

A 7000 thousand years civilization with a solid foundation of its' culture, tradition and custom surely must possess wisdoms. If it follows the West, just too bad that it shoots its' own feet and will lose its' footing. Otherwise, it should be an example for all nations and humanity.

China is doing very well now and the Leadership is exemplary, it will do the World much good. BUT, if the American and its' allies believe they could be better, no harm to let them try, be it war or kindness. Me does not think any nation is scared of them.


Anonymous said...

Arrogance and greed will eventually lead to humiliation and defeat. It will come. It will!

Looks like not only the Americans, but the whole of Western Europe are spending more than they could afford. The problems are surfacing.

Frugality is an Asian trait, but it is fast eroding among the younger ones, who are easily manipulated by businessmen and the media into following the ways of the west.

Let's hope there are some Asian leaders wise enough to forgo wholesale pursuit of economic goals and neglect tempering the spendthrift habits among its people.

Matilah_Singapura said...

The most serious problem facing China -- which is almost unmentioned in the media or the financial press -- is its rapidly aging population


China will get too old before it gets too powerful.