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yangshanghai

Listed below are comments made by yangshanghai between Thursday, 1st May 2008 and Wednesday, 12th November 2008.

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China's new economic plan 10:58am on 12 Nov 2008 funnyanotherblogger wrote:

"So, James, according to you, the CCP is doing it to maintain stability, to hold on to power,to bring it as a gift to western government. Did you ask Chinese people what does this mean to them? Is this welcome by the people? If you possess a little bit language skill then you will find out more details. The package is about better transport, sanitation, housing and basic social safety net for poorer rural areas. It is about expressways, high speed train systems and better ports. It is about better water supply for north China and less flooding for south China...... The Chinese government is laying down solid fundations for China's future development. The factory workers who lost their jobs will soon find themself working on construction sites. China will come out of this recession as a stronger and happier nation."

Is this all a pipe dream? Without transparency, opposition in any form and a free press, we would never know if the $586b project would be well spent. It's a ginormous sum of money and given the endemic corruption and lack of accountability and the govt-knows-best mindset, I fear incompetence, mismanagement and misappropriation of funds to small or middle-ranking officialdom.
Forced convergence of China and US 10:42am on 12 Nov 2008 laughingblacksheep wrote:

Actually the Chinese are buying US assets because the US is their biggest export market and they need - now more than ever - to ensure their products are cheap. Buying bonds means USD goes up and RMB goes down. That simple, no "altruism" needed.

The Chinese are not given a level playing field by the US govt. We are only allowed to use our SWF to purchase certain US companies, eg financial but not petroleum companies or those perceived to be related to national security or 'hi-tech'. If the US govt would only be less hypocritical and practice full capitalism as we all know it, the huge trade imbalance with China would be less of a problem for the US.
Forced convergence of China and US 10:36am on 12 Nov 2008 dceilar wrote:

Hate to say it, but aren't the US Federal Govt just 'propping up a lame duck industry'. It'll end in tears. Shouldn't the Fed be focusing on regenerating these geographical areas that will be mostly effected by the downturn in its automobile industry. They could relocate some Govt jobs into these areas for example.

No, I think the US govt is doing right by ensuring no US car manufacturer goes under. Unlike the UK govt which failed to protect MG Rover et al. It's really sad the UK has no home grown car industry to speak of. The UK has put most of its eggs in one basket (financial services) but we now know this will soon end in tears. The UK needs both financial services and manufacturing amongst other industries.
About James Reynolds 10:25am on 01 May 2008 James Reynolds looks like a nice young man whom any mother would have loved their daughter to have brought home for a cup of tea or if it gets more serious, dinner (maybe). However, he is also very clever having done his studies at Cambridge but behind the veneer of young but a bit nerdy looks and polite manners, he is trying to impress as a journalist. I think he should be sent to Afghanistan or Iraq war front so he can see for himself what Western troops are doing to the local population. Bring it on for James, BBC!

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