Zoellick – China needs major economic reform

The President of World bank, Robert Zoellick, has warned that China needs a major economic reform. He said, ‘This is not the time for just muddling through. It’s time to get ahead of events and to adapt to major changes in the world and national economies.’

China has been muddling through for the last 3 or 4 decades and has transformed itself from a poor third world country to the second largest economy in the world. On the other hand, the Americans and Europeans have been so well managed over the same period that the Americans is now the world’s biggest debtor and many of the European countries are running into bankruptcies.

I would recommend that the Chinese leaders should continue to muddle through the way they did and not listen to the World Bank or China would end up like what America and Europe are today.

China, carry on, keep muddling through and be the biggest economy in the next 25 years. Don’t ever listen to advices from people who mismanaged their economies. Never listen to them as their advices are likely to be laced with poison like the apple given to Snow White. The Chinese leaders must have been doing it right for the last few decades to get where they are today. And the losers are trying to teach China how to run its economy with many crying and screaming that the Chinese economy will be doomed for the last 30 years.


patriot said...

The World Bank should be headed by a level headed man. A muddle headed one as its' chief will probably lead the World Bank to where the US and Europe are where they are now.


Matilah_Singapura said...

He is right -- China has been "muddling" through, as "muddling" is a natural market process whereby players move forward regardless of their incomplete, ever-changing or often incorrect information.

China's stunning progress can hardly be described as "orderly" -- it is day to day chaos that somehow comes together to make things happen and get things done.

Part of China's success is that there is no set-in-stone "plan", and the govts have been smart enough to basically let the markets run free with very little regulation.

Chua Chin Leng aka redbean said...

In the ST today it reported a Chinese blogger Du Jianguo storming into a press conference of Zoellick in Beijing and telling him to stop selling poison to China.

He distributed leaflets 'World Bank, take your poison and go back to the United States.'

How foolish of Zoellick to think that he is going to save China from an economic crisis when he could not save the US or Europe. He is as good as recommended the Open Door policy that the US imposed on China in the 19th Century.

Matilah_Singapura said...

When it comes to banks, it's all about the money and who is going to make and control it.

A blogger might mean well, but in the grand scheme of things he is nothing, because he has no tangible power.

I don't care if it is China, India, Canada or Uraguay...politicians are politicians, and bankers are bankers. When they get together the magic of "quan xi" starts to happen, meaning these two groups are going to get rich and other fuckers are going to suffer.

Remember the World Bank is there to "help" cuntries in "crisis" by making "loans". The crises are usually created by other members in the banking industry.

What cuntrees need is a Dr Mahathir to tell these bankers to fuck off and take their "loans" for "help" with them.

Anonymous said...

Common sense would tell us that China and the Chinese should never listen to or take the advice of so called Western experts on how to restructure the Chinese economy. The White Americans and the Europeans , in short the Westerners have for decades never wished China anything better than doom. Year in and year out for the last forty years or so they have always predicted doom for China. In other words they never wish China well. If their experts, their leaders, their economists, their bankers and their business leaders are really so clever how come their economies are in shambles and almost all their countries are bankrupt. Can you believe that these same band of crooks, rogues and scoundrels who defrauded their own countries and the world want to advise China on running the economy?. Chinese leaders must be insane to listen to them.
Robert Zoellick Who is quite anti Chinese and has no love for China is one of those rogues and scoundrels who thinks he can deceive the Chinese with his deceitful advice which is lethal venom coated with sugar icing. China, don't ever trust Western experts especially those who offered advice without being asked for they may turn out to be Trojan Horse to destroy China in an easy way.


Chua Chin Leng aka redbean said...

This Zoellick is a joker.

He still thinks America is ruling the world and he can go around selling his snake oil and forcing people to buy from him.