dec 27th, 2008
http://online.wsj.com/article_email/SB122988679995424611-lMyQjAxMDI4MjI5NjgyODY2Wj.html
which means there has been no improvement in the ability of the masses to consume. in other words, when america stops buying, all that 'rubber dogshit' just piles up. this is true co-dependency.
not a good place to be, eh, han boys? the yanks do have you by the short and curlies.
huang, of mit, has written before, with tarun khanna of harvard, about how the indian entrepreneurial story has more sustainability than china's export-dominated story.
hat tip to manju.
1 comment:
this piece by Stratfor's George Friedman shows why China's economy has to be export based - they are unable to create purchasing power in the hinterland of China.
http://www.stratfor.com/analysis/geopolitics_china
the most worrying part is that the rice bowl of China is drying up - and in typical Han style they will respond to it by diverting the himalayan rivers that currently run into India - thus causing desertification of all of north India
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