Saturday, December 20, 2008

"AFTER 30 YEARS, ECONOMIC PERILS ON CHINA'S PATH" - NYT

dec 19th, 2008

china begins to face the music. couldn't happen to a more deserving empire.

maybe there is poetic justice in this world, after all. ye who live by exports, ye shall perish by exports as well.


1 comment:

san said...

True enough, the Chinese leaders seem to have been so in love with the wealth that external trade generates, that they didn't really consider the downside risks.

India's service-oriented sector by contrast, should be more resilient -- provided our soft state doesn't continue to get further perforated by terror attacks.

Anyhow, as soon as China's masses start to feel the deep pain of recession and joblessness, you can be sure that China will crank up its police state apparatus to keep a tight lid on things, as they did following Tiananmen.

At that point, I'm sure the Atlanticist types like NYT will start urging more Chinese to convert to Roman Catholicism in protest.