The following commentary and analysis was originally published by Jim Quinn at The Burning Platform.
The Chinese stock market hit a four year high today at 3,020. This is up 53% since the middle of 2013 low and up 48% in the last six months. I guess this must mean the Chinese economy is operating on all cylinders. If you think so, you’d be wrong. Barron’s interviewed a no-nonsense woman who has lived, worked and analyzed China from within since 1985. Anne Stevenson-Yang has spent the bulk of her professional life there working as a journalist, magazine publisher, and software executive, with stints in between heading up the U.S. Information Technology office and the China operations of the U.S.-China Business Council. She’s now research director of J Capital, an outfit that works for foreign investors in China doing fundamental research on local companies and tracking macroeconomic developments.
This lady is about as blunt as you can get about Chinese fraud, lies, mal-investment, and data manipulation. The entire Chinese economic miracle is a fraud. The reforms are false. The leaders are corrupt and as evil as ever. The entire edifice is built upon a Himalayan mountain of bad debt.
The slave labor manufacturer for the world’s mal-investments since 2008 make Japan look like pikers.
China, for all its talk about economic reform, is in big trouble. The old model of relying on export growth and heavy investment to power the economy isn’t working anymore. Sure, the nation has been hugely successful over recent decades in providing its people with literacy, a decent life, basic health care, shelter, and safe cities. But starting in 2008, China sought to counter global recession with huge amounts of ill-advised investment in redundant industrial capacity and vanity infrastructure projects—you know, airports with no commercial flights, highways to nowhere, and stadiums with no teams. The country is now submerged by the tsunami of bad debt that begets further unhealthy credit growth to service this debt.
The BLS should take lessons from the Chinese government in data falsification. But, the American MSM dutifully reports the Chinese data as if it was real. Faux journalism at its finest.
People are crazy if they believe any government statistics, which, of course, are largely fabricated. In China, the Heisenberg uncertainty principle of physics holds sway, whereby the mere observation of economic numbers changes their behavior. For a time we started to look at numbers like electric-power production and freight traffic to get a line on actual economic growth because no one believed the gross- domestic-product figures. It didn’t take long for Beijing to figure this out and start doctoring those numbers, too.
Real numbers from the real economy and real companies reveal the truth about the Chinese economy. If revenues are falling, why is the Chinese stock market up 48% in the last six months? The same reason the U.S. stock market is up. Rampant speculation created by blind faith in central bankers and central banks buying stocks.
I’d be shocked if China is currently growing at a rate above, say, 4%, and any growth at all is coming from financial services, which ultimately depend on sustained growth in the rest of the economy. Think about it: Property sales are in decline, steel production is falling, commercial long-and short-haul vehicle sales are continuing to implode, and much of the growth in GDP is coming from huge rises in inventories across the economy. We track the 400 Chinese consumer companies listed on the Shanghai and Shenzhen stock markets, and in the third quarter, their gross revenues fell 4% from a year ago. This is hardly a vibrant economy.
The Chinese are learning the same thing as Americans. Stimulus does nothing for the average person or the real economy. It benefits crony capitalists and crony communists. It results in mal-investment, booming stock markets and ultimately a bust – that will negatively impact the average person.
By our calculations, since June the central government directly and indirectly has added more than $400 billion of stimulus and relaxed lending terms for housing purchases. Yet, every spasm of new stimulus seems less and less effective in boosting the economy. So most likely, China is sinking into a deflationary recession that’s increasing in speed and may take some time to run its course. Investors have lost faith in the property market, which alone comprises about 20% of GDP, when taking into account the entire supply chain, from iron-ore production to construction to related financial services and appliance sales. Employment and wage compensation will suffer. Consumption will continue to suffer. There’s even an outside possibility that China’s economic miracle could end up in a fiery crash landing, if a surge in banking-system loan defaults outruns government regulators’ attempt to contain such a credit crisis and restore financial confidence.
The diminishing effectiveness of Keynesian claptrap projects is evident for all to see.
The giant government economic-stimulus programs since 2008 are rapidly losing their effectiveness. The reason is simple. Much of the money has been squandered in money-losing industrial projects and vanity infrastructure spending that make no economic sense beyond supplying temporary bump-ups in GDP growth. China is riding an involuntary credit treadmill where much new money has to be hosed into the economy just to sustain ever-mounting bad-debt totals. Capital efficiency, or the amount of capital it takes to generate a unit of GDP growth, has soared as a result.
Nothing like 50 million unoccupied housing units to create the greatest housing bust in world history. Maybe Blackstone can work its buy to rent strategy in China. It’s worked so well here in the U.S.
The Chinese home real estate market, mostly units in high-rise buildings, is truly bizarre. Many Chinese regard apartments as capital-gains machines rather than sources of shelter. In fact, there are 50 million units in China that are owned but vacant. The owners won’t rent them because used apartments suffer an immediate haircut in value. It’s as if the government created a new asset class that no one lives in. This fact gives lie to the commonly held myth that the buildout of all these empty towers and ghost cities is a Chinese urbanization play. The only city folk who don’t own housing are the millions of migrant laborers continuously flocking to Chinese cities. Yet, they can’t afford the new housing.
China should rename themselves Bad Debts R Us. I’m sure they can keep the bad debt balls in the air for another decade. Right?
Interestingly, liquidity seems to be a growing problem in China. Chinese corporations have taken on $1.5 trillion in foreign debt in the past year or so, where previously they had none. A lot of it is short term. If defaults start to cascade through the economy, it will be more difficult for China to hide its debt problems now that foreign investors are involved. It’s here that a credit crisis could start. Bad debt in China never seems to get written down. The huge pile of nonperforming bank loans that Beijing assumed earlier in the millennium in order to be able to take its major banks public still sits on the balance sheets of various asset-management companies.
China is still an evil communist nation that disregards human rights, murders its citizens, crushes dissent, and suppresses free speech. Other than that, they are a great bunch of guys.
In my opinion, the press is somewhat guilty of willing suspension of disbelief on developments in China. Xi’s agenda of Confucian [moral] purification has nothing to do with opening up the economy or social reform. He wants to bolster the power of the Communist Party and tamp down the cynicism about the system that is increasing in China. This explains in large part his bellicosity in the South China Sea, quashing of dissent on the Internet and elsewhere, and heavy-handed attacks on non-Han populations like the Uighurs. He openly disdains Western democratic values. As for Xi’s much-ballyhooed anti-corruption campaign inside China, it offends me that international media depict it as a good-governance effort. What’s really going on is an old-style party purge reminiscent of the 1950s and 1960s with quota-driven arrests, summary trials, mysterious disappearances, and suicides, which has already entrapped, by our calculations, 100,000 party operatives and others. The intent is not moral purification by the Xi administration but instead the elimination of political enemies and other claimants to the economy’s spoils.
Nothing like a little blunt truth on the day the Chinese stock market hits a four year high. Nothing but smoggy skies ahead.
This commentary has been contributed by Jim Quinn and The Burning Platform
Bottom line: they’re in as bad of shape as WE are. Cry me a river…
They built their empire on American dollars……
Ha Ha Ha — the jokes on them ….. stupid shits!
Oil Getting Crushed today (Wed)- Look for $40 Oil next year.
Oil- $62 a Barrel
Gold-1232
Silver – $17.14
Dow down 112 Pts biggest drop since Oct 22nd.
The Economic collapse domino field is moving faster. Oil will crush the speculators and derivatives market. Weeeeeeeeeeeeeeeeeeee……
Then you will really like the 268 point drop on 12/10.
+1 LMFAO It’s funny because it’s true.
Holy Fuk, Batman, Sum Ting Wong. China will not save the globalized world even with all it’s gold. It’s resourced fucked by all it’s industrialized pollution and it’s economy is a carbon copy of the Western financial system.
Despite manipulated and fabricated numbers (this must be an international phenomenon), the Chinese economy is not flying high.
It reminded me of the (punked) report of the pilots of a Asiana plane that crashed in 2013.
PUNKED: TV station reports Asiana pilots as ‘Sum Ting Wong,’ ‘Wi Tu Lo,’ ‘Ho Lee Fuk,’ ‘Bang Ding Ow’
Media Bistro dot com
(link below)
Direct link…
http://www.mediabistro.com/tvspy/epic-ktvu-fail-anchor-reports-pilot-names-including-sum-ting-wong-and-wi-tu-lo_b97368
Believe it or not I think they are in worse shape economically than we are. I’ve seen all the things the author talks about. But the people are better educated and have a work ethic you don’t see here so no telling where that will take them. Maybe they need another revolution.
Great article. I call China the Roadrunner Economy because it is on the precipice looking into the abyss. Can you say “Wiley Coyote”???
“China, for all its talk about economic reform, is in big trouble. The old model of relying on export growth and heavy investment to power the economy isn’t working anymore.”
Actually Their “old economy” isn’t suppose to work anymore. They are suppose to be converting to a service economy and allowing the Yuan to rise, permitting “excess world production” to move offshore to India, Vietnam, and other locations.
Pigs stay at the trough too long and they get slaughtered.
They reneged on their agreement with the New World Order and now they are going to be “punished” just like the other BRIC’s. Quietly of course.
Estimates I have read say that the Chinese have squandered One Trillion Dollars in bad investments and the CCP has embezzled a Trillion more and squirreled it away offshore.
That’s a lot of lettuce for an economy that runs on fiat currency and translates into 12 trillion yuan. It won’t be pretty when their FIRST Depression comes and the Chinese, unlike their American counterparts, really, really, really, like to protest.
Its gonna get ugly when the Great Unraveling begins. 🙁
Btw Durango Boomerang. Facts are last Nov 5th 2014 Gold closed at $1142.00. Look it up dipstick. Your claim $1180 or $1200 was not the bottom this year. So you and your fuzzy math can lick my boots once again. My statements remains correct, as you play the fool and others amusement for comic relief.
You ain’t fit to lick his boots.
The boot licking thing has been reserved for the cop loving statist here….thank you.
OC,
Since you love reading, why don’t you spoend some time going back in the archives (last 4 years) and study d kiddie pretender’s posts.
By all means. Study my posts over the past four years and you may learn something BJ. You need the education. I have it and I’m giving it to you for free.
No CD’s to buy, no monthly newsletter to pay for. Accept the charity. You need it. 🙂
Ha! WhoWuddaThunkIt, quite trying to confuse him with facts.
Anyway, he says, “Their “old economy” isn’t suppose to work anymore. They are suppose to be converting to a service economy and allowing the Yuan to rise” …
But, wait…
durango kidd says:
Comment ID: 559295
May 23, 2012 at 1:18 pm
“My peeps, there is a method to the madness. […]
When China buys Treasuries now with their RmB directly, they swap their fiat for OUR debt. OUR debt is priced in dollars. Their currency is valued in RmB.
Their currency will revalued upwards in stair steps down the road, meaning that their currency is going to get stronger and more valuable while the dollar weakens.”…
I’m confused here, is the Maestro Kid saying they are permitting it, or, are they are refusing it? “Their currency will revalued upwards”?
“They are suppose to be converting to a service economy and allowing the Yuan to rise”
“will”.
“suppose”.
Which is it?
Kid Number 1, or, Kid Number 2?
Can he even keep them straight?
What’s it matter? Control of the money supply is what’s important, right? Control, control, control.
[I see what you mean, BJ. His old posts are so out of whack with the new.]
🙂
Massive $1.1 trillion spending bill unveiled
“Another provision drawing fire would allow pensions to be cut for current retirees covered by some economically-distressed multiemployer plans, part of a package agreed to unexpectedly Tuesday after secretive talks.”
“Proponents of campaign finance reforms decried a provision slipped in at the last minute that would sharply increase limits on the amount that an individual may contribute to various national political party accounts and committees each year. Those limits would rise from $32,400 to $324,000 for donations to finance parties’ national conventions, election recounts and headquarters buildings. That means individuals could give $648,000 in a two-year campaign cycle, with a married couple capped at almost $1.3 million for an election cycle.”
WTF!!!
“The compromise spending bill will permit virtually the entire government to operate normally through the Sept. 30, 2015, end of the fiscal year, with the exception of the Homeland Security Department.”
Good, DEFUND them anti-constitution bastards!
September 28, 2015 is the fourth blood moon of the tetrad…..just sayin.
In other financial news…They call this a ‘recovery’
The Baltic Dry Index shows the true strength of the global economy. The Baltic Dry Index is the barometer that gauges the shipping dry bulk commodities around the globe.
May 20, 2008 – The Baltic Dry Index reached 11,793 points.
June 2014
The Baltic Dry Index Is Down 60% Year-To-Date; Worst On Record
“has collapsed over 60% year-to-date”
“worst first-half of the year on record”
http://www.zerohedge.com/news/2014-06-24/baltic-dry-index-down-60-year-date-worst-record
December 3, 2014
Baltic Dry Index is down to 1,079 points.
http://en.portnews.ru/news/191537/
December 8, 2014
Baltic Dry Plunges Back Below 1000 – Lowest December Since 2008
http://www.zerohedge.com/news/2014-12-08/baltic-dry-plunges-back-below-1000-lowest-december-2008
http://freebeacon.com/issues/treasury-department-seeking-survival-kits-for-bank-employees/
Yep helot, good work. Words are useless unless they are accurate. Wonder which way the wind is flying out there in Durango hills today? Stay tuned for more DK economic comic relief.
I don’t even read his backwards comments. Why does anyone else?
helot/CLARK: In May of 2012 the Chinese were following the agreement they made with the NWO, which included the eventual rise of the Yuan to relative parity with the dollar like the other major pairs.
Since then they have demonstrated their reluctance to keep that agreement for fear of the loss of export jobs, and the impact of massive unemployment upon their political control. Economic conditions change over 18 months, except in your case.
You are grasping at straws because YOU cannot make a rational argument about current economic events or FREE TRADE, without parroting an Internet meme. 🙂
RE: “Boomerang”
I keep thinking of the boomeslang snake for some reason.
…And, an article Jon Rappoport mentioned it in.
Gives me the willies thinking about it.
D kidd, the self proclaimed economic guru of the SHTF Plan site, has lost all credibility.
Folks followed his mumbo jumbo spurts of econ-insanity for years until they realized he is mostly speaking out his ass.
When one forgets he has spouted earlier comments about a subject and then does a reversal, there is always someone willing to do the homework to hold their feet to the fire. Thanks, helot.
Also thanks for the updates on sixpack doing a role reversal on Putin/russia; by pwtw.
She implied a love for putin and his russian government for months earlier, and then, recently agrees to the idea of Russia/Putin possibly attacking the USA, throwing out a dire warning as if she admits they aren’t as friendly towards US citizens as she thought.
Once a commie and USA hater, always one. Putin could care less about the American people. He is just like the mooselimbs; wants them dead and wants their stuff.
Anyone (aka sixpack), that makes a statement that we/American citizens…”should stand with Russia”, is a traitor, in my book.
Well RE:Six. People are entitled to their opinions and can change with new updated accurate info. If you look at the facts.
Putin is at war with the NWO, unlike our boot lickers. So I quietly cheer him on.
Putin has no need to Attack Americans, as he sees our Government doing a fine job of destroying our lives and freedoms as well. Putin is quietly cheering Americans on in our battle as well, against our oppressors.
Even Donald Trump chimed in and said Putin must be laughing at the Riots in Ferguson.
Things aren’t always crystal clear in geo politics. But rest assured, Sixpack is not a communist (man I hate the silly titles) and someone can love america, but hate what she has become in regards to who steers the ship.
@ oicu812….Sixpack admits the Russians are not as friendly to the USA. Thats a good step in the right direction HOWEVER YOU suggesting that she is a traitor … A traitor to What? A system/gov that is attacking its own citizens? There is nothing wrong with someone admiring a dictator(putin) that has his citizens best interests as his agenda. (aside from becoming the riches man in the world) Whereas Our own dictator’s interest is destroying the USA. I can see her point although I dont agree with admiring ANY dictator.
oicu812, reread my post. I never said “they aren’t as friendly towards US citizens as she thought.” I said Russians may not be what we have been told they are. By that I mean PROPAGANDA LIES. We are TOLD that Russia wants to destroy us, but their ACTIONS say different.
If you are going to try to use my own words against me, you should be certain you understand what I said first.
BTW, I am Russian, descended from legal immigrants from Orenburg, which was at the time, a little place SW of Moscow. I am the third generation born in the United States. My new grand kids are the fifth generation. Therefor, you don’t get to call me “traitor” for comments I have every right to make, for or against Russia OR the U.S.
OICU812: You are more than welcome to join the discussion and specifically refute my analysis and submit your arguments for peer review.
I doubt that you can. 🙂
Durango Boomerang, as his statements fly out there, circulate around and come back to smack him in the head, after anybody fact checks him. Durangochild would make a good congressman PR Spinmeister… Most sheep would believe him, as he does sound convincing.
WWHTI: Be specific. Make an argument. And lets engage!!! 🙂
It’s “supposed”…… not “suppose”.
WWHTI: When I made the gold BOTTOM call last year about this time, I wasn’t forecasting for the year. I was forecasting for the next BOTTOM which occurred, EXACTLY as I predicted.
Gold subsequently rallied until late summer, I believe, when the metals manipulation struck again. The boomerang is on YOU!!!
My next call for gold, at $3500, I expect next year when the Great Unraveling begins. It could be longer than that, but that is where it is going, sooner rather than later.
You, like CLARK are grasping at straws because you are so fucking dumb. No one but the haters are buying it. 🙂
Europe and Cypress economies are emploding right now. There are riots going on in lots of countries right now protesting Austerity. Governments have looted the peoples wealth and are seeking bail ins. Silver up over $17. Gold up too slightly too but I think it is Holiday shooping binge pushing Gold up a little.
Jer ry! Jer ry!
the 1% richest in the US- guilty of-
ostentatious, gluttonous consumption .
Yep! My Chinese friend said that some friends of hers who had gone back to China (after getting their masters degree overseas)said: “whatever you do, don’t come back home! No one can get jobs!”
Even if they had doctors degree or whatever, no jobs were available. The few “higher ups” who did get jobs (those with a masters degree) have to rent apartments that are extremely expensive– its real difficult to find affordable housing.
As far as the statistics go, they have a joke in China about that: In China, they don’t need people who go door to door to compile statistics… the government makes up its own statistics!!”
When she first came here to the US, she would go outside and dance around, looking up at the sky because you can’t see the sky in China– too much smog! And they have very few trees– they are all chopped down because of the huge population of people there.
Turnthekeys………
Turnthekeys……… And, bring on The Fourth Turning.
…It’s like the hot pepper in the middle.
The young People will refuse to pay for the benefits of the old People and the old People will “riot”.
….Old people rioting doesn’t have that big of a ring to it for some reason. It’d be more like a muffle? Afterall, they’ve been trained well by their every loving goobermint.
Sit, Obo, sit.
helot/CLARK: The young people are not needed to pay for the benefits of old people; anymore than useless eaters are required to take the markets to new highs.
Haven’t you learned anything in the last five years??? 🙂
Anyone want to bet the regime will go to war against someone, especially US, to distract their people from their economic problems? I wonder how the commie regime and the Chinese people feel about capitalism now, although mixed in with their brand of communism? Now they know how we feel about abuse of capitalism. There;s still some chance the BOY in the WH will get us into war with Russia or whoever in order to distract us from everything going on here at home. I still say first quarter of 2015 TSHTF. Everyone keep prepping.
a
yep
After all the bankers have a quota to make be it in gold or silver
& the GDP of China & the US will be the cannon fodder
I am nothing like surprised over the CIA revelations but it is but another deep needle in my heart because I weep for the degeneration of America. I could give a fuck about the land or the people. It’s the IDEALS that made us exceptional. Neo-con shitbirds like Hannity Kelly and O’Reilly are already defending the murdering fucks. I wonder if it was their children rotting in a secret prison what would be said. Anyways, I’m sure none of the CIA vermin will see a day in jail. Obullshit already said we should all move forward now.
I hope those of you who are recovering Repubics have grown up a bit and seen what hypocritical shits your party really is.
Have you noticed Wolf Blitzer and other ultra liberals have questioned whether these revelations of torture will put Amerikkkan lives at risk? Brainless parrots or receivers of marching orders I couldn’t say.
When the balloon goes up we are going to set a few things straight.
Don’t want to change the subject, but when the balloon goes up few will be there to set things straight. I just returned from a public game & fish meeting where they were looking for input on many subjects. Wy.Game&Fish people were there along with BLM and U.S. Forest Service personal, you know who else shows up at these meetings? Not Joe Blow that does all the complaining about Government intervention, or regulations, but people that have a vested interest. OutFitters, Guides, Local Media,Taxidermy and Meat Packers. So where are all the people that agree that we have to much Government already? Setting at home on their ass, which really doesn’t matter, but it would be nice once in a while to have a little support when ever you stand up and tell these agencies that we don’t need more rules or regulations. We get more government because we demand it, I heard this tonight just like I have at other such meetings. Some of the statements were, we need more enforcement, make the fines higher, more government brain washing (educate the public),confiscate this or that, more rules and on and on it goes. Yeah Government does listen! But who are they listening to. Trekker Out. Not SHTF!
Mountain Trekker, have you ever read the story of Yurtle the Turtle?
That story has a Lot in common with Humpty Dumpty.
I think maybe, like Yurtle, Humpty was an arrogant bastard as he sat on his wall. He wouldn’t listen to anybody, no way, no how.
…Then, the money ran out. …Or, something like that.
I hear whatchyer sayin’ though. …It’s like you were in a local precinct during the last presidential election and the Ron Paul delegates were trying to speak. … the, ‘Good Ole Boys’ acted like, “Rules?!” “We don’t follow no stinkin’ Rules!” and you were shouted down.
They got that avenue covered.
No. Matter. What. …Well, until Humpty falls off his wall and Yurtle falls off his stack, that is. …Then we’ll see.
{Insert something about the tide rolling out and seeing who is swimming naked, here X.]
“The People” are the source of the ideals, Acid Etch.
You can’t have one, without The other.
Also, there’s nothing “exceptional” about the unitedstate. It’s just one more empire in a string of empires.
…Same as it ever was.
I am not sure of the best methods for interrogating terrorists. Maybe they would have gotten better results if they offered them baked cookies. These are the same people that have sworn to destroy us. These are hardly innocent people, but I have to admit I would hate to see those tactics used on innocent people. I do question the release of the information. It reminds me of the preacher in Florida burning the Koran.
Swinging Richard. Torturing Terrorists? The first thing is how do you classify a Terrorist? In my opinion,
A “Terrorist” is anybody who attacks our country or people causing harm or death.
And ANY PERSON defending his homeland from an illegal Foreign Invaders, I would classify as a Homeland Patriot and or Freedom Fighters from their Oppressors.
So if you consider torturing Patriots or Freedom Fighters, That is wrong.
That is the difference in my book of what or who regarding torture.
A “WAR” is the result of one party defrauding the other and failure to pay up.
1.5 Billion Chinese now hooked on American consumerism. Lazy work habits and the generational divide of traditional vs Modernization. Conquer an divide is working quite well these days.
Horseface Kerry testifying before a committee today asking for permission from congress for POTUS to use boots on the ground.
Also, in the last post someone had a link that suggested the draft might be implemented again.
Think we are not headed for war?
POG- I would suggest this time, putting Israeli Jew Boots on the Ground. After all it’s their war.
RE: “I wonder how the commie regime and the Chinese people feel about capitalism now, although mixed in with their brand of communism? Now they know how we feel about abuse of capitalism.”
A large part of that is corporate cronyism & oligarchy, a.k.a. fascism.
It’s Not exactly capitalism.
Of the bit of Capitalism and the free market that dribbles through, I imagine they love it. It’s prosperity.
Who doesn’t like prosperity?
Also, it’s Not, “the BOY in the WH [who] will get us into war with Russia” rather, it’s those who control the strings of the many puppets who try to rule us all.
For as long as you’ve been around here, I’m surprised you don’t know that.
Helot, OK, I should’ve said “TPTB will have their puppet Obama start war with Russia” or something to that effect. Yes, I’ve already known it for much longer than anyone here imagines. Check out a book titled “None Dare Call It Conspiracy” by Gary Allen, written and published back in 1973. That is one book along with “Tragedy And Hope” by Carroll Quigley. The first book was the one that awakened me. The second book was more like “advanced studies” for me on the NWO. Both books can be found online free in PDF form.
So right you are braveheart.
China is so deep in bed with Russia, it is almost homo-sinful.
The Chinese have the refineries in place and Russia has the crude. Together they can “rule” the world thru their control of gas supplies, if….
If, the Big Kid on the block, USA, is out of the picture, OPEC won’t be a problem.
The proliferation of claims to the resources in the Arctic Circle by Russia and China, is a sure indicator of the direction they are heading, and further supports my prediction of Gods prophecies in Ezekiel 38/39, the Gog/Magog war, being centered around the Arctic and Alaska and against the “House” of Israel/USA, and not the nation/land, of Israel/Jerusalem.
The verses tell us plainly that Gog is none other than Russia. Old Russia/post biblical= Rush pronounced ‘roosh’; it contained an area to the east, known as Magog. I believe this area to be a reference to old China to it’s west.
The earliest inhabitants of China where from this region of the Northern/west, area of now China around Mongolia (etymology of Magog may be linked), and Xinjiang.
A portion of these populations contain Kazakhs, which descended from the Turks/Kazahrs/Russians.
The Russian language or a form of it, is widely spoken.
Therefore, the Chinese influence in the next to the last battle on Earth may well come from the Russian/Chinese led federation.
Their dwindling economy and the Communistic desire to rule the world with an iron fist from Beijing, may well be the catalyst for an attempt at invasion of USA, in the near future.
pwtw
RB: By and large, the Chinese population has little or no idea of the true state of their economy. Less even than most Americans know about theirs, because here the Sheep are suffering.
In China the Sheep are prospering and the younger generation has no idea what a Depression looks like because they have never had one.
It will get ugly. 🙁
War seems likely, if only because they are running out of other options. Sounds like another country I know of.
That’s a really scary true thought, Beau.
A cornered rat Can surprise.
… And then, you’ve got all those people who think the cornered rat is a puppy dog that just needs a hug.
[Insert video of Gomer Pyle saying, “Surprise! Surprise!” here X]
[For the younger People: Insert video of Elf hugging a raccoon, here X.] ….Same thing.
And a Merry Christmas to you.
All of you.
We have sent folks to China from our church. Large sections of China are Islamic. In these areas and in the rest of China free speech is very suppressed. They saw this first hand. They over reached with there infrastructure and econimy. Sores of folks who could subsist on farms now are in the cities but as jobs dry up they will have no were to go as they have left the farm and can’t return. If this country begins to implode along with Russia suffering due to the fuel glut world wide things could get VERY ugly. World Wars have been started over less. If the US has a fanatical melt down it will accelerate this problem for the other two big players and for the Euro. Things are starting to unravel and you best get prepped …. as a couple of articles said before … late 2015 to early 2016 and you will start to see a lot of pain. Please be ready for your love ones sake. PRAY, PLAN, PREP, FORM TEAMS.
Oh Sending Cristians Missionaries over to fix everything and convert the people. See how well that worked for America. Maybe China can prop up their Currency too with the full faith and credit of “In God We Trust” stamped on their paper money. That too worked so well in America. As the US Dollar is now worth only about .02 cents of its originsl value.
RE: “[Scores] of folks who could subsist on farms now are in the cities but as jobs dry up they will have no were to go as they have left the farm and can’t return.”
So the hope is that their empire can’t hold on and maintain a rigid control over The People and those people become entrepreneurs or go underground and contribute to what is probably already a thriving black market and they succeed beyond their wildest dreams. ?
… Like it will be here?
Just as the bootleggers did here during Prohibition?
“You can’t keep a good man down”?
You know, this could be the beginnings of a blossom of prosperity via free trade, so long as The Bastards don’t wipe us out with nukes (or GMO’s and/or Geoengineering) or, smother everything under a blanket of a police state in the name of control followed with child-like words of “fair trade” in the meantime.
Obey. ?
Doomsday Tuesday. Too sick to prepresent today, first Tuesday in ages that I haven’t done anything to advance the preps forward. I’ve been diving into the stockpiles more than ever this year too. Only time I feel like I need to shop is when I run out of eggs, butter or milk. Used to have chickens, need a cow too I suppose.
* prep
Before you buy any bulk food buy a few sample to see if the. Food is any good. A warning WISE Food has a heavy marketing campaign and the packaging shows vegitables. But none is in the packages. I bought one Bucket and the packets contain 300% of the daily salt intake. Nasty food I almost threw up. So just buy a few samples before you go all in hastily of long term food storage. I also have about 6 Mths of good store can food that is good for several years. So yep grocery shopping is like coffee creamer butter eggs OJ and bread which will keep quite well in a freezer.
During the Reagen years, there was a massive flux of construction. I remember reading about structures being built but unoccupied.
How about now? Bridges built to no where?
How many of us read about The Cities that have been built in China but unoccupied?
I also read at the time that we would probably never again the
prosperity as we saw in the Reagen years
How about this story.
Wasn’t Reagan the guy that switched us from a making production economy to a parasite service economy?
Yes, indeed, the Chinese “Ghost Cities” are indicators that their economy’s “strength” is absolutely false.
Their brand of “stimulus” is/was as stupidly “thought out” as ours is/was. Same academcians, same old stupidity.
Economic theory is a far cry from reality.
WWTI, damned good point about freeze-dried foods. I’ve sampled several brands and they made me sick with the excessive salt content. I don’t mind a LITTLE BIT of salt on occasion, but DAMN, freeze-dried foods have more salt in them than anything else I’ve ever tried. So my food stock will still be canned goods for the most part.
Chainsaw you would be better to get a milk goat than a cow. Cattle are way overpriced at present. A cow requires a great amount of improved forage grain & hay. A goat will thrive on marginal browse that grows naturally. If there are deer in your local a goat will live on the same browse a deer eats. Ive got both a milk cow and milk goats. and in a true SHTF the goats will produce more milk from less labor & feed. and the goats will have a couple of kids that make excellent meat every year.
Right you are.
But if Chainsaw insists on having a cow, go with a smaller breed because it eats less. Jersey, Guernsey are good ones for a small farm situation. Herefords (polled) are hardy and good for same situation if you want a meat breed — might even be able to get enough milk for your own use, in addition to enough for its calf, if you get one with a gentle disposition. Hand milking still works, but you need a couple of seamless stainless steel buckets, paper milk filters, and then a good thermometer if you’re going to pasteurize it on the stovetop. Lehman’s carries the funnels for the paper milk filters. The paper milk filters should be available at a reasonable price from a local farm supply store. Follow all directions for stovetop pasteurizing carefully, and, be prepared to be tied down with daily milking regardless of weather or other plans. You’ll also have to find a way to breed the cow, either with someone’s bull or with an artificial breeding service that travels to your location if there is one operating in your area. Then you have to wean the calf at the proper time or it could die from overeating if you just let it nurse at will on the cow. And you have to buy medications to protect the cow from the inevitable parasites, or flies, or whatever natural complications come along. If you don’t, then you probably will see a reduction in milk production and possibly a complete cessation of milk, plus you could lose the cow altogether to disease. You’ll need the services of a large animal vet sooner or later, as well, if you want to make your efforts successful.
It’s not just a simple matter of deciding to “get a cow.”
You don’t need to be prepared to be tied down to daily milking. What I do is let the calf or baby goats run with their mothers. When I want some milk I simply pen up the babies. after a few hours when the mother gets full of milk she will come bawling or bleating wanting relief. So I just milk out what we need and let their babies back with them. This method works very well and we never have problems with clogged caked udders or mastitis. We strain the milk through a cloth and we immediately rinse it out and wash it later. In 50 years we have never pasturized our milk. We simply always drank fresh milk from healthy animals. My cows are 1/2 angus and 1/2 jersey and the other is 1/2 angus and 1/2 holstien. For breeding I buy a young yearling bull and after he does his job I castrate him and fatten him for beef. I could also sell him for a modest profit. Out milk goats one is a Nubian and the other a alpine. We have a Kiko Toggenburg cross billy. When I milk I placate the animal with some sweet grain mixed with wheat shorts or rice brain. The brain & shorts are powedery and they cant eat it very fast. If the cow eats wild onion or bitter weed it taints the milk. You can put a tablespoon of brown sugar on the feed when you milk. That makes the bitter weeds & wild onion taste bad to them and they wont eat it.
Good info, there Old Guy.
Brings back memories from about 50 years ago.
Grandpa, always kept us supplied with fresh cows milk.
It was all i ever drank, besides the milk I got at school or an occasional chocolate variety from the neighborhood store; for the first ten years of my life.
We never got sick from the milk and always had the best fresh butter.
When grandpa couldn’t keep cows any longer, we drank store brand pasteurized and it tasted watered down. later we went to 2% and it tasted like half water, but as we adjusted, it was OK.
Now, i drink 1% all the time, and whole milk tastes like cream.
What a cycle. If we get a milk cow, it will be like drinking melted ice cream for a while.
Oh, btw, if you ever drink fresh milk from a cow that has been eating wild onions, you will never forget that taste.
Ive owned cows for more than 50 years. And ive never once ever had veteranian on my place. I just mostly keep well fed healthy stock. over crowding & overgrazing are what leads to sickness & disease. Crossbred animals are more resistant to disease and hardier than purebloods. my milk goats are registered pureblood. They are normally high dollar however mine are older so I got them cheaper. That’s why I got a Kiko cross billy to breed them. Im hoping to raise some young replacements that are more hardy & thrifty even if they don’t produce as much milk. The Kiko developed in New Zeland is the hardiest breed on the planet. the pigmy are pretty tough however they don’t produce a lot of milk. the Boer meat goats don’t thrive well in the Ozarks. The cold & wet effects them adversely. They where developed in the dry African Savanna.
If you are going to get a cow get a holstien if you have 4 acres , take it from a farmer unless you want to make butter then get a jersey . if there is enough grass a cow will not over eat if there is plenty of grass. you don’t need a milk goat. if you buy a holstien u can milk her and raise 2 to 4 calves on her depending on how much milk u need each day, a holstien will give up to 8 gallons of milk a day. but not much milkfat for butter
There will be no war with the Chicoms.
Who will buy all their garbage to keep their economy on life support?
China may well go to war for resources, just as Japan did on Dec 7th 1941. For one thing, they have little domestic oil. They now drag Arab oil all the way around India and Southeast Asia, and up through the South China Sea, which is very risky. Their iron ore comes mostly from Australia.
The only thing they have a lot of is coal, and people.
Yes, they do have a huge supply of coal resources, which I am sure are in the top priority for targeting if/when China gets stupid in their “war footing”. Set those on fire, they will burn for decades, and they won’t be able to use them.
Basic strategic planning, and IF, we haven’t considered that
“option”, shame on us.
Would they sacrifice their own populace to recover that coal, in such a toxic mess? Of course they would.
CK: Been telling that to the folks here for years. They don’t want to believe that. 🙂
Well, one way to torpedo their economy even further, is to literally torpedo their ships transporting their exports. Might not “win” the war, but it would destroy their economy in a heartbeat.
They do not have a viable submarine defense fleet capability,yet.
The chicoms live or die at the whim of Americans, I for one have been backing out of almost every aspect of the MS and can tell you it’s worth it. Stop contributing to the machine, let it die, my dream is that as a nation we cut the rest of the world off for about 6 years, we buy nothing from the outside world and let them suffer without our money.
If we’re so hated then we should withdraw from the world and see how it fares? I for one know by year two they’ll beg us on bended knee to sell us their inferior products. Our answer should be “sorry 6 years aren’t up yet.
Wake up Imbecile.
If America withdrew from the rest of the world for 6 years, the planet would heal and rejoice.
Besides……who would you phucks have to bomb for the next 6 years if you withdrew?
Never forget……If America stops bombing……America stops altogether.
That’s why the world hates you…..because you are the BOMBERS THAT BOMB TO KEEP YOUR ECONOMY RUNNING.
UTTER FILTH. Some good people mixed in, but basically, filth. Warring, stealing, lying filth whose comeuppance is overdue and on the way.
Just think, If the Cops fully withdrew from Ferguson City Limits for 6 Months, what do you think would be left of the Community after 6 months?
I bet one burned out smoldering molten killing field.
That could be the answer, to the Fergy protesters. The Police Chief could come out and say, “OK, We hear you and starting today, you can police yourselves. See ya all in 6 months.”
FBI is applying the sticky label to your file as we speak.
Look, the Barrons article (source for this article) is all about Wall Street doing a full court press disparaging the chinese economy. Why…..because the Chinese Yuan is about to become part of the default basket of currencies that comprise the IMF Special Drawing Right.
When this happens…..the U.S. and European Central Banks won’t have the freedom to act as irresponsibly as they have for the last 50 years…..and Wall St. doesn’t like that at all.
It’s all just Evil Bankster politics folks.
Of course the Chinese economy is bad….but a big reason for that is because our economy is nothing more than a fictitious shit heap.
I don’t know, Cellar Spider.
RE: “SDR’s”
This article made a Lot of sense, I’ll paste the conclusion:
The IMF, the SDR, and the Dollar: One Big Happy
Gary North – August 13, 2014
“There are a few people who think the IMF’s SDR’s will replace the U.S. dollar. I suggest that you ignore such speculation. Something may replace the dollar someday. It will not be the SDR.”
It seems as though everyone wants to lead the pack. Rather than work together, it seems as though one faction wants to dominate the other. I am afraid this is what will lead to war. Rather than continue on this path of money printing and temporary prosperity for the few, our leaders better sit down with each other and seek real solutions.
Definition of SDR;
From Wikipedia, the free encyclopedia
(Redirected from Special Drawing Rights)
Special drawing rights (XDR – aka: SDR) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is not a currency per se. It instead represents a claim to currency held by IMF member countries for which they may be exchanged.[1] As they can only be exchanged for Euro, Japanese yen, pounds sterling, or U.S. dollars,[2] XDRs may actually represent a potential claim on IMF member countries’ nongold foreign exchange reserves, which are usually held in those currencies. While they may appear to have a far more important part to play or, perhaps, an important future role, being the unit of account for the IMF has long been the main function of the XDR.[3]
Created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and the U.S. dollar, the value of an XDR is defined by a weighted currency basket of four major currencies: the U.S. dollar, the euro, the British pound, and the Japanese yen.[1] Special Drawing Rights are denoted with the ISO 4217 currency code XDR.[4]
XDRs are allocated to countries by the IMF.[1] Private parties do not hold or use them.[5] As of March 2011, the amount of XDRs in existence is around XDR 238.3 billion, but this figure was expected to rise to XDR 476.8 billion by 2013.[6]
@Helot,
Xi Xinping has stated he wants the Yuan to be part of the SDR. He said it in a conference back in September 2013 I believe (don’t call me exactly on that).
China holds about 1.6 trillion of U.S. debt. If the Yuan doesn’t become part of the SDR in 2015 (currency allocations come under review SDR), then the threat is that they’ll dump the U.S. debt on the open market.
The SDR is going to become the default currency. That is what the world wants. Wall St. is smoke and mirrors which amounts to nothing more than false advertising. International investors aren’t buying it though.
Last ditch efforts to keep the dollar as the default currency include disparaging other economies and of course…..war.
Serious question…
How is threatening to dump their holdings of US debt a threat?
Someone would have to be willing to purchase that debt right?
GR
Because the yields the treasury offers would have to increase at the next bond auction to compete with the discounted bonds the Chinese are offering.
Because no foreign investors would buy the treasury bonds (because they bought from the Chinese instead), the Fed would have to buy more bonds than usual in order to keep the country (USA) running. And this would of course, result in the printing of more and more money by the Fed thereby further devaluing the US currency.
helot/CLARK: At least you got that right, even if you had to quote Gary North for it. The SDR will never be the world currency. The NWO has a world currency. Its the FRN.
CS: The goal of the NWO is to have the Yuan JOIN the basket of currencies and become completely fungible. Wall Street is not disturbed by that idea one bit.
The addition of the Yuan just magnifies the FX creating new pairs to be manipulated and profited from. 🙂
The Chinese seem to have no word for ethics.
Of course not, since the very concept arises from the Christian doctrine of free will.
There’s a name for growth that continues on and on and on……
Cancer.
Any world economic system that relies on continuous, unending growth is simply such.
DEAD…….
Our future looks very bleak and what that is about to happen words cannot describe. The only thing to do is prepare the way that you see fit to; no one has all the answers as to what is needed. Some have a better understanding of what befalls us than others, but for the few who has been to the edge and looked over, know what it’s all about and those that have are scared very scared, just take warning folks and prepare. The only question to be asked; are you prepared to die, because it is going to happen, sooner for some than others, but it’s going to happen to all. To those who have realized they are already dead know exactly what is seen when you look over the edge! Prepare and stand tall my friends, see you on the other side.
PC: “I don’t care anymore”.
MTCFMF!!//RIP America.
“The only question to be asked; are you prepared to die, because it is going to happen, sooner for some than others, but it’s going to happen to all.”
Exactly right. Hence, the ongoing invitation to all who don’t recognize Jesus as Lord and Savior, who don’t confess and repent of their sins, to do so now before they die. That way your soul is prepared and you are prepared for dying and death.
You never know when you’re going to die (assuming that you’re not committing suicide).
Take care of that prep first. Then prep all the other stuff.
“I guess this must mean the Chinese economy is operating on all cylinders.”
It is…trouble is, they all ride mopeds.
not to nit-pick but:
Heisenberg’s Uncertainly Principle has nothing do do with what is being described. It would be more closely analogous to the Quantum Zeno Effect (Zeno’s Arrow paradox) in which an continuously observed unstable particle will never decay.
Just sayin’.
PS – just so I fit in with many of the other posters; please insert random, anonymous internet tough guy comment here .
“Your son looks just like you. Please pay your back child support.”
Luv, Nancy.
I dont always surf CNN
But when I do ..shit like this makes me laugh
stay frosty my friends
ht tp://www.cnn.com/2014/03/11/politics/senate-cia/
take the space out from between the T’s
Let them eat Cake?
ht tp://www.theepochtimes.com/n3/1132789-michelle-obama-lunches-report-compares-malia-and-sasha-obamas-food-amid-criticism/
remove the space between the T’s
Look at how she looks like the Grinch
kinda looks evil dont she?
Chop sticks on the piano anyone ?
China is a currency manipulator was the US government cry.
The US Government does not maniplate the currency the Fed does it for them, along with the stock market, gold, silver, oil, gas, food, unemployment numbers, GDP, etc.
China no human rights, prison labor. US tortures and has killer cops, prison labor, and FEMA camps.
Great minds think alike. Copy cat, copy cat!!!!!!
It may be a fraud but the Chinese people are not starving to death anymore. Millions went from rice patty to apartment with electricity, TV and meat in the refrigerator. in two decades They could care less how or why its happening.
Sustainable? I’m not too sure anything is anywhere.
Thousands of Cellphone Users Receive Government “Emergency Alert”
Kentucky residents told to “prepare for action”
posted on Drudge Report
Told no need to worry, this was just a test.
If White People Were To Vanish
Day 1, Morning: The negroes wake up, but sense that something is wrong. There is no radio and no T.V. Electrical power is partially gone. Venturing out into the world, they notice almost no traffic, no police, no airplanes… almost total silence. Realizing this, they immediately begin to loot. Gun stores & liquor stores are among the first to be emptied out. It is a free for all. Windows are broken, cars are stolen from garages & parking lots. By the afternoon, most valuables in stores & private homes have been stolen.
By the end of the First Week: Electrical power is all but gone. Phone service is sporadic. Working negroes are beginning to understand the nightmare. But no one listens to them; they are “Uncle Tom’s”, who have always appreciated life in America. Black gangs are beginning to rob, rape and murder at an even higher rate than before. There is no government, no order. There is nothing to stop them. It is a great big party … For now.
By the end of the First Month: Looting & anarchy continue. Law abiding negroes have to defend their houses from looters. War begins among black gangs as they battle for territory & vanishing resources. There is no longer any electricity, and most fresh food has spoiled. Fires are widespread from looting, and very few know how to put them out. There is no more tap water.
By The End Of The Third Month: Canned food can still be found but fresh water, milk, bread & produce are non-existent. Gasoline becomes scarce. No television or radio. Garbage & sanitation services are gone, & diseases begin to rise. Rats multiply. Some hospitals are still running but with almost no trained staff. A few law-abiding negroes try to restore order & resort to a shoot on sight policy.
By The End Of The First Year: Starvation is rampant. Food becomes the most valuable thing in the “New Negro America.” Trees are cut down for firewood. Many die from cold. Most infants do not survive, as medical care becomes non-existent. A few negroes hoard all the food for themselves by the use of force (just like Africa today.) There is no light at night, except from wood fires. Negroes begin to reorganize by tribes. Gangs rule the city. Travel is almost impossible, except on horseback, & gangs frequently murder travelers. Youth engage in dueling, to prove their manhood. Nomads now roam from destroyed town-to-town looking for food. All farm animals have been slaughtered.
By The End Of Five Years: Nearly 2/3rds of the negroes are dead. The life span is down to about 35 years, as it is in many black countries in Africa today. The U.S. has become Africa, only worse, for there are no white men to organize aid and feed them.
Pretty Racist huh(sarc)..LMFAO
reality.. such a bitch aint it?
Funny thing is.. it wouldnt go completely like that.. because once the nuke power stations go critical there would be no 4th year
EOTS, the only thing wrong with your scenario is your timing. If those people are lucky some might survive up to 6 months, but even that estimate may be too generous. After 3 days with NO WATER, the human body begins to shut down. People can survive up to a month without food but they still need that water every day to keep the body functioning. In 3 months, 75% at least will be history.
This woman’s report on the TRUTH about China just warms my heart to no end.
Finally, the truth is coming out.
Those of us geezers who have known all along that such a repressive Communist regime could not run an honest lemonade stand, are now laughing our knee braces off and our false teeth out.
It’ll probably be up to you youngsters to slap them back in their place — the whole pagan, filthy, dishonest, overbearing, thieving, abrasive, greedy, superstitious lot of them.
And you can bet your Geritol that it’s natural resources they’re after. In Africa, South America, South Asia, the Middle East, and now, Russia.
Most Americans can’t comprehend how many people are in China and how many the Chinese government can deploy on very short notice, in droves, to just about any situation or venue. And those deployed have absolutely no say in the matter, and CANNOT refuse to comply, regardless of the assignment.
Why we’re allowing them onto OUR shores as supposed “students” and insider-trading stock listers and restaurant staff every 2 blocks in virtually every American city, is beyond me. Only explanation I can offer is that it is planned infiltration, because no one, and I mean NO ONE gets out of that country without the explicit permission of Communist authorities after loyalty to the Communist Party has been proven beyond doubt.
I do hope I get to see firsthand the collapse of their society and economy.
EOTS- Pretty accurate if you think about it. Life for Blacks in America would be pretty much be reduced back to the Congo or Nigeria. The Drug Trade would be the biggest part of their new economy.
“Democracy is the road to socialism.”
Karl Marx Co-author of the Communist Manifesto
“The goal of socialism is communism.”
Valadir Lenin Founder of the Russian Communist Party
“Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself.” John Adams 2nd President of the United States
“The Republican is the only form of government which is not eternally at open or secret war with the rights of mankind.”
Thomas Jefferson 3rd President of the United States
Long live the Republic!!!
“Necessity is the plea for every infringement of human freedom. It is the argument of tyrants. It is the creed of slaves.” –William Pitt in the House of Commons November 18, 1783
“If Americans ever allow banks to control the issue of their currency (Federal Reserve, central bank, IMF) , first by inflation and then by deflation (Economic bubbles), the banks will deprive the people of all property until their children wake up homeless in the streets.”
Thomas Jefferson
Meanwhile, here is what we waste our money in, including a full funding of Obamacare. Boehner now fully revealed as a RINO.
http://www.washingtonpost.com/blogs/post-politics/wp/2014/12/09/whats-in-the-spending-bill-we-skim-it-so-you-dont-have-to/
Boner is a corrupt pig, just like all of them.
Welcome to the Recovery – McKinsey Survey Shows 40% of Americans Living Paycheck to Paycheck, Up From 31% in 2012
http://www.blacklistednews.com/Welcome_to_the_Recovery_–_McKinsey_Survey_Shows_40%25_of_Americans_Living_Paycheck_to_Paycheck%2C_Up_From_31%25_in_2012/39822/0/38/38/Y/M.html
the slide into the abyss picking up a bit
Since the US has been in recession with very slow recovery, and the EU is falling back into it including Germany who can no longer prop them up, sales in China have fallen. Less demand does not create a record breaking growth economy.
No one can piss down my back and tell me it’s raining.
Yet you will all go out and vote for Jeb Bush in 2016. Make any sense?
We are not in a recession with a “slow” recovery. We are in the midst of a collapse. Unplug the MSM and ditch your Ipad, etc. We are done for. There is no recovery.
Ghee that sounds like America, Argentina, Brazil, The European Union, India and Japan!! So what else is new??
China could be more basic even. First, as a whole they sell crappy products. That’s not a long term growth plan for any business. “Made in China” conveys possibly fraudulent product contents (“killed my dog”) as well as unreliable electronics and mechanical products. Just search for mopeds and you’ll quickly see people saying the cheap Chinese mopeds break after a few 100 miles or so. The Chinese have a saying like the grandfather builds a business, the father wastes the money, the grandson becomes a farmer. Something like that. That’s China in a nutshell. They have so much momentum but have refused to play fair in the world business markets (outlawing foreign competition made Jack Ma the wealthiest man) and refused to adapt to markets. Their whole growth strategy is much like India: take American jobs. That only works but so much. In the end, people need mopeds which actually work and computer software which actually works. Low cost actually costs you more when you are buying junk.
Secondly, China is no longer the lowest cost. The oil correction might help them short-term; but, look towards Africa for the future of cheap labor. Aren’t there as many people in Africa as in China?