Beijing Scrambles to Avert Disaster
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  • Who will be left holding the bag when the record player finally breaks in this grotesque game of global musical chairs?

    (I apologize for the mixed metaphors)

  • Jim.

    China needs to allow prices to float a bit, and a lot more free market reforms so that they can draft every keen and motivated soul through the promise of profit (tempered by the real risk of loss) to build a real, sustainable economy.

    Europe (and everyone else, for that matter) needs to stop looking at government as a credit card with no limit. Otherwise, we will all find ourselves in Greece’s situation, and justly so.

  • Cunctator

    The central question is to what degree is the legitimacy of the current system in the PRC dependent on economic growth? (I do not know the answer.) But if the answer is “a great deal” than the consequences of an economic slowdown or worse will be enormously destablising for the country — and far more so than anything we have yet seen in Europe.

  • Mrs. Davis

    While China has not yet descended to the same circle of financial hell as Europe, the two regions seem to be exhibiting some similar tendencies—namely, a propensity for pushing tough decisions down the road in the hope that some miracle will save them.

    I sure am glad we here in the Anglo-Saxon, capitalist, US of A aren’t showing such declinist tendencies.

  • Anthony

    Imponderables WRM have increased as global competition intensified – China, Europe, America, Middle East, …. Nobody can predict outcomes…but I would venture to say that our future lies in attaining a healthy, productive balance of competition and cooperation in an interconnected world – how best to arrive there appears to have us betwixt and between (and not just economically).

  • Cromwell

    That Tom Friedman is right, what we need is state capitalism just like the Chinese.

  • Independent George

    So, what happens when the Chinese can’t afford to buy are debt anymore?

  • Mrs. Davis

    So, what happens when the Chinese can’t afford to buy are debt anymore?

    We stop buying from them, they suffer collapse and unemployment, we suffer higher prices, they have domestic turmoil.

    Life goes on for us. For them?

  • Ruth Murray

    It’s not so much the European echoes that concern me; it’s that this echoes the American society’s ignoring our own government entitlement spending. This isn’t a capitalist problem; it’s the individual’s willingness to believe that if it’s provided by the government, s/he isn’t paying for it.

  • Since geopolitical strategy is one of his specialties I hope Mead will be covering Economic and Geo-Political Implications of China-Centric Globalization pretty soon.

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