Two Points: ** China is now acknowledged as a primary leader of global
economic trends. ** China will better managed the apparent down-swing much
better than everybody else, as its %growth is still in the middle single
digits and it has the means to mollify any domestic disruptions. The message
to the rest of us is "Sauve qui peut !" Blaming China has no effect and will not
change anything. Can global capitalism 'revive itself' without Chinese - made
profits ? The ball is on our court. The bankster's 30 year globalization scam
coming home to roost. There was no economic miracle - all that happened was the
banksters shifted tens millions of jobs from west to east so they could pay
eastern wages while charging western prices and this made them very rich. But
how could western demand be maintained to pay for all those (now imported) goods
if tens of millions of well paid jobs were off-shored? They got their puppet
western politicians to keep the scam going with debt. And now western credit
has run out the off-shored economy has no one to sell to and so it's all going
down. The sickening thing is the banksters responsible for the coming disaster
will run off to their private islands when the crash comes and watch the
starvation they caused on TV - if there still is TV. Perhaps instead of blaming
one or a few countries for impending monetary problems all governments have to
look at their spending. None that I have heard manage to reign in spending and
have a balanced budget. Europe wants to keep maximum time off, minimum man hours
while maintaining social programs. See Greece as end result. The US has gone
down the sewer with profligate spending. Bush's spending was terrible, Obama has
more than doubled the trouble Bush left the country. Soon, regardless of wealth,
there will not be enough fully employed workers to fund what the government has
decided is entitled to leeches. Unless the food chain is broken, economically we
would seem doomed. It is not entirely China's fault.
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