Refreshing to see somebody standing up and saying the Emperor's New Clothes are a little ragged. China continues to excel at propaganda; and because they are racists who have always despised whites, whites are in awe of them! Talk of psychological warfare! China has been talked up as flavor of the month before, but not much came of it then.
There is, fundamentally, a good historical reason why China will eventually become economically powerful: that is history. China was once a great economic power. But then so was India. Up until white imperialism began to make inroads, China accounted for 33% of the world's manufactured goods, and India for 25%. The four greatest centers of industry in the world were the Kaveri and Brahmaputra river deltas in India, and the Pearl and Yangtze river deltas in China.
In a steady state, India and China will regain their economic clout.
The major flies in the ointment are economic structure for China and political structure for India. A poor banking system (which has 60% unrecoverable loans) will weigh China down. A poor political system -- a facade of democracy overlain on a dynastic, feudal polity -- which is also a predatory state will keep India down.
| Commentary: Welcome to the Chinese century? Not so fast | |
| By William Pesek Jr. Bloomberg News | |
Everyone has an opinion on who will lead Asia in the years ahead, including the Group of 7 industrial nations. This month, the group clearly seemed to be putting its money on China. The wealthiest industrialized nations have not exactly said that India will play second fiddle to China, having invited both nations to attend their Feb. 4 meeting.
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