For the losers, for the Americans and their crony media, they cannot see the contradiction in the title of this article. An economy, the biggest trading nation, with a trade surplus of US$1 trillion, is collapsing...only in their minds, what they are wishing and praying for day and night, for China to collapse. Sorry, it is not going to happen. But for the hardworking countries of the Global South, many are celebrating China's success. They are now able to enjoy all the great and useful products Made In China with their little income. No need to pay for an arm or a leg for all the goodies and niceties they need. No need to pay $30,000 for a handbag. No need to pay hundreds of thousands for an American or European cars when a better Chinese EV can cost only $10k or $20k.
What is important is that China is creating a lot of jobs in the Global South countries. China is moving up the value chain and migrating their lower value production to Global South countries. Many countries in ASEAN, Africa and Latin America are beneficiaries of this manufacturing migration. They are taking the same path that China trotted, starting from lower value manufacturing to build their industrial base, to gain experience and train their workforce to eventually move up the value chain like what China is doing.
Vietnam, Thailand, Indonesia, Laos, Malaysia and many African and Latin and Central American countries are enjoying economic booms. China has built many factories in these countries, creating good jobs for their citizens. Some of these countries have moved up to higher value manufacturing, like Malaysia, Thailand and Indonesia, and Mexico, Brazil, Saudi Arabia, Kuwait, UAE, and many African countries. Manfacturing jobs are a plenty in these countries with Chinese investments.
Only a few laggard countries with unproductive workers are complaining of unemployment in their dysfunctional economies. But never mind, they can send all their unemployed and hungry workers to Singapore. Malaysia, Thailand and Indonesia may not want them for good reasons. But the Middle East and the West can take them all in.
Singapore has no problem about unemployment. It has created millions of jobs for foreigners in the islands, especially when Singaporeans are giving up working, no more desire to want to be CEOs, managers, and full time jobs. Singaporeans are not complaining. They are very happy with gig or platform jobs, part time jobs, earning good money, freedom and be their own boss...and no stress.
Now, who is complaining about job opportunities, unemployment? China is exporting not only jobs, but factories to the Global South countries to create more jobs.
Boosting China's economy is going to be an extraordinarily difficult balancing act? Really? With a trade surplus of US$1 trillion, what is the problem? More than 90% of the economies of the world did not have a GDP of US$1 trillion. What does this say about China's economy?
Yep, China is collapsing if it makes some people happy. On social media, those anti-China bots are posting ridiculous videos about China's tofu bridges, tofu train stations, tofu airports collapsing every day. Yet countries are asking China to build their infrastructures like high-speed rails, ports, airports, bridges and nuclear power stations that are touted to fail. China's robots performing stunts are claimed to be remote controlled and I suppose even Xi Jinping and Wang Yi are remotely controlled by someone. Maybe Trump?
ReplyDeleteI do not have to watch such mindless production. The heading already tells me what the motive was for posting such fabricated nonsense that contains not an iota of truth, totally different from reality.
Alright, let them crow on their dung heap about China collapsing. The truth is, China had been collapsing over the last two decades and a half up to today and will continue to collapse for several more decades to come. Does fiction make any difference when China is having a trade surplus of US$1 trillion after decades of collapsing? Who knows who else is realistically collapsing?
I think after the collapse of all other cheerleaders, China will still be standing. Chinese civilization was expected to collapse many times before but managed to overcome all odds and stayed undaunted, rising from adversity to retain all its civilization heritage in culture, written and spoken languages and diversity. There are 56 ethnic groups still living as a family in peace and tranquility, with minority groups give special privileges.
DeleteChina was ruled by the Mongols and the Manchus but still retained all its civilization heritage that even made the ruling Mongols and Manchus to be assimilated into Chinese culture. Chinese writing existed for millennia despite the rule of the Mongols and Manchus. Chinese traditions still over-ride the lifestyle of the Mongols and Manchus despite being ruled by them. Even the eight nations attempt to change China never succeeded. All of them eventually became failed colonial powers, with the Brits the most significant, while China still did not collapse but standing tall.
The action of the USA and Europeans are actually turning into a blessing in disguise for countries in Africa, Latin America and some Eastern European countries after China migrated its investing and factories building from USA and Europe into those countries to create jobs for their citizens.
ReplyDeleteWhile jobs are being deprived in USA and Europe by cutting off Chinese investments, other countries in the Global South are counting their blessings. While the Global South countries are moving ahead, the USA and its European allies are being left behind.
I have to mention one example of what is happening closer to Asia, with India refusing to allow BYD to build a factory in India. BYD decided instead built its factory in Pakistan, a tight slap on Modi's face. Now who is benefiting from BYD's investment? Play stupid games and get stupid prizes is what India is doing. India needs jobs, plenty of it. Now the Indian rupee is at all-time low and India is going to be a basket case in time to come.
How much longer can Modi hope to sell his snake oil is anybody's guess. But the damage has already been done and knowing how Indians do things, it will take generations to put things in order, provided India gets a good leader to replace him. With all the corruption rampant in its top leaders today, things do not look optimistic even if they try to drain the swamp. Someone else tried draining its swamp, but is making it even swampier, LOL.
The ang mo are very concern about China having such a huge surplus. They said that China is too export oriented and not buying much from others. They advise other countries not to rely too much on China but buy more expensive stuffs from ang mo cuntries. This is the thinking of most politicians who are jealous of China ability to produce cheap & good products. This politicians do not want most of their fellow citizen to live a good life but to be concern about cost of living everyday without cheaper products from China.
ReplyDeleteWhen Oligarchs are chosen to run the country, their agenda is making more money for themselves, not caring about the ordinary folks. In USA, if one is not rich or an oligarch, forget about running for the Presidency.
DeleteWhen countries cannot manage their own economies, have a lot of unemployed and jobless people, blame China.
ReplyDelete