Clinton Pokes China, No Response?
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  • Jim.

    If recent articles about Chinese “ghost cities” are to be believed, China is worse than a kleptocracy… the government takes wealth and nobody gets to enjoy it. The buildings they build, whole towns’ worth, over sixty million residents’ worth, stand empty.

    Market signals exist for a reason, guys. Some places don’t need apartment buildings. (Some places don’t need high-speed rail.)

  • Jacksonian Libertarian

    Jim is right, not only are there ghost cities in China, many of the new skyscrapers are empty, and the high speed rail lines are to expensive for the impoverished Chinese to ride so they use the older cheaper lines which get there slower. Most of the economic numbers coming out of China are bogus, with much of the economy government owned and with the 10 year political changes coming, bureaucrats are fudging the numbers to make themselves look good. China’s export model economy is coming to an end, with a -0.6% decline in prices between may and june, electricity production falling, and export sales falling off a cliff.

  • Words, words, words. What is wanted are calm, measured, firm penalties announced ahead of time: Congress should pass a schedule of tariffs on Chinese imports calibrated to certain benchmarks of political reform: an independent judiciary, internationally supervised accountancy standards, freedom of speech, etc.., details to be worked out among our allies and maybe even in public consultation with the Chinese authorities. The message should be if you want to be part of the civilized world, be civilized. Pre-modern barbarism doesn’t cut it anymore. We’ve helped you get off the poverty floor, at considerable cost to our own welfare. Shape up.

  • Gman

    The thought that comes to my mind is that the US economically advantaged ruling elite set this whole thing up long ago, by skillfully allowing China into the WTO. Their mistake, the whole worlds price to pay.

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