The American economy is
doing better at 1.5% growth. It is a more mature economy than Singapore, so
1.5% is as good as excellent. Some of the Asean economies are having 5% to 7%
growth and are considered so so as they are developing economies.
The more horrifying
economy in Asia is China. It is fumbling with only 6.8% growth. At the rate it
is going China's economy will crash or go into recession in the view of all the
western analysts and anti China reporters. That is how bad the Chinese economy
is growing, only 6.8%. If only China is growing at 1.5% or 2.5% maybe the
western analsyts would then conclude that the Chinese economy is sound and as good
as the American’s and better than no growth Europe, and sustainable.
China is a third world
country so it is natural to have high growth rate. But falling from two digit
growth to 6.8% is really bad. Never mind if it is the second largest economy in
the world. Never mind if the IMF or World Bank has elevated the Chinese economy
to the top spot in terms of purchasing power. China is a developing economy, a
third world country. Nevermind that this third world country is sending out
more than 100 million tourists travelling around the world and reputed to be
big spenders picking up expensive branded goods like toys. How could a third
world country send out 100m rich tourists annually to travel around the world
is really puzzling.
What does a 6.8% growth
mean to a US$13 trillion economy? A 10% growth would mean a growth of US$1.3 trillion
annually. A 6.8% growth would mean the economy grows by US$900 billion
annually. Just to compare for size, Singapore's economy is around $400 billion.
This means the Chinese economy is growing two Singapore's economy every year.
And that is bad, terribly bad. Got it?
There are countries that
are in the third world but kept bragging about being in the first world or
coming soon. There are countries that are already in the first world but
refused to be so labelled and insisted to be developing countries. Is China a
fumbling third world developing country and heading towards destruction and
oblivion with a 6.8% growth? Even at 6% growth, China will be growing like
US$700 billion annually. Is that bad, really bad, really in trouble? Don’t try
to think if you can’t.
6.8% bad, 2.5% good,
1.5% excellent!
Stupidity has no cure.
Ignorance is no blessing.
The Chinese economy is
crashing, crashing, is crashing….The world is coming to an end, the end is
near, believe me.