Thanks to one our visitors (Traveler, Youzi, 游子), a debate about fundamental issues that divide many Chinese has been brought to our blog (see comment in earlier thread). In this post, I want to express my opinions on the economy, democracy, and the Chinese government. I also want to send a few sentences to Mr. Wahaha: please do not so easily “represent” the Chinese or the … [Read more...] about The Chinese debate – Part 2: Democracy and the economy
economy
Prices in the Mao era – a peasant's view
The vast majority of Chinese favor and support the "opening up and reform" period started in 1978. But many are also very nostalgic for the Mao era, a time when equality was guaranteed, a time when socialism in China was far more than just a hypothetical. One simple example is translated below. This article has been spread around numerous Chinese forums, actual origin not … [Read more...] about Prices in the Mao era – a peasant's view
So China is responsible for the sub-prime loan crisis as well?
[Update inserted at the end] The U.S. Fed chairman Bernanke gave some amazing recycled remarks to the International Monetary Conference on June 3, 2008. In that speech, he offered some gems of wisdom such as: In the financial sphere, the three longer-term developments I have identified are linked by the fact that a substantial increase in the net supply of saving in emerging … [Read more...] about So China is responsible for the sub-prime loan crisis as well?
China's forex reserves larger than those of G7 combined
Today's Xinhua article brings to our attention that China's forex reserves have ballooned to $1.76 trillion as of the end of April. To put this number in perspective: it is about 15% of the US annual economic output. Before people get carried away, allow me to explain what the forex reserves is not: it is definitely not the government's money, so there is no sense in talking … [Read more...] about China's forex reserves larger than those of G7 combined