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(CNN)   Chinese Banks: Correlation does not imply causation. So what if we are a Chinese bank owned by the Chinese government who has an agenda to become #1 world power? That does not automatically mean we are guilty   ( money.cnn.com) divider line
    More: Fail, Chinese, Huawei, chinese banks, house intelligence committee, ZTE, telephone companies  
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1636 clicks; posted to Business » on 08 Oct 2012 at 9:08 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-10-08 10:49:40 AM  
2 votes:

Wicked Chinchilla: They have a massive demographic bomb created by the one child policy

I know this keeps getting attention, but for all the wrong reasons. China can barely feed its people, even with some of the most ridiculously fertile soil on the planet. They NEEDED to put a brake on their breed-like-rabbits culture. Doing so results an aging population but that's the case for any industrialized nation and a very predictable result. Many parents murdered their firstborn daughters to have a son, which is a serious humanitarian problem in its own right without dragging it into a discussion about economics. I think some people are conflating the issues just to bring attention to them without any evidence there's a connection.

China's demographics are in far more serious trouble due to, among other problems, "brain drain". Here's a chilling example: China has zero resident Nobel Laureates*. None. There are a number of winners of Chinese descent, but every single one left the country. In that sense, as strong as the anti-intellectual movement is in America, our farked-up country is still a million times more hospitable for intellectual elites than China.

China does not invent anything. China does not innovate anything. Everything they make are products designed in first-world countries, with machines manufactured in first-world countries, using assembly processes refined in first-world countries. The ONLY thing they can offer to first-world countries is massive amounts of cheap labor, and they are quickly reaching breaking point in controlling that "advantage". The riots and crackdowns and suicide nets are signs of a country desperately trying to keep an unsustainable status quo. It has to; it has an unholy alliance with American manufacturers. If they can't keep their costs down, the corporations will leave. They don't need to look at the Rust Belt to know what would happen if they did. Once you make yourself industry's biatch, you will always be industry's biatch. . . even when industry's done with you.

They will collapse, but I don't think that's any grounds for Americans to rest easy. The problem with America isn't China. It's that America's popular prescription for economic recovery is to try to out-China China.

*Well, I don't know about the Peace Prize but I'm only counting serious awards here.
2012-10-08 09:42:00 AM  
1 vote:

Girion47: This article is trying very hard to play up the Chinese boogeyman. That country is going to collapse magnificently in the next 20 years, they aren't going to be backdooring every router they install, they can't even get potable water to all of their citizens or even institute building codes that don't result in whole buildings just completely tipping over.

It's not a boogeyman. Most US gov't agencies won't buy kit from Israeli companies for the same reason.
2012-10-08 08:28:50 AM  
1 vote:
"The risks associated with Huawei's and ZTE's provision of equipment to U.S. critical infrastructure could undermine core U.S. national-security interests," the report states. The findings are particularly critical of Huawei, which the committee alleges "provided evasive, nonresponsive, or incomplete answers to questions at the heart of the security issues posed."

And you know what? i'll bet Congress will just end up saying 'f*ck it' and let the chinese telcoms move into this country. the worst part? they probably have a more stable network infrastructure than comcast...
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