Meet China's new leader : Pon Zi
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Ilargi – thanks for the very interesting article. Hu Nu? Vancouver did, as a lot of the hot money has ended up here, pushing our prices (and Toronto too) into the stratosphere.
“Virtual money” and “a shell of a country” – and then the crooks quickly flee their homeland, to be greeted with open arms by Canada.
How sad for the peasants in China. Many have been forced off their land, they’ve had to deal with choking pollution, high inflation, and all so a certain segment of society could get rich.
What a world we live in.
Thanks, very sobering (not that I was really expecting any better would come from such a corrupt state once the truth finally leaks out; as it always does). China’s just another dud horse in the race. Might outrun the other nags but still suffer a fatal fall before the finish line.
Real life is stranger than fiction. How many people the world over has this Pon Zi demon possessed?!!Real life is stranger than fiction. How many people the world over has this Pon Zi demon possessed?!!
Only one clan …
The Earth Ling
From Economic Undertow:
Merkel Capitulates, World is Saved, Now What?
Posted on July 6, 2012 by steve from virginia“Here is distributed vulnerability in a zero-sum world: China is as dependent as Greece on outside capital, almost as dependent as the US on petroleum imports. China isn’t support for the world economy, it cannibalizes the world economy instead: petroleum consumption chart is from Jonathan Callahan’s excellent Mazama Science Energy Export Databrowzer (BP Data).”
In my previous post, I forgot to say I think Steve’s essay is very thought-provoking…I think it’s a great essay.
wrote: What this means is China is structurally half as productive as the US: to obtain the same unit of output as super-guzzler USA China must burn twice as much fuel. For China to have the same level of goods- output as the US it must double its already staggering fossil fuel waste or reconfigure its energy use infrastructure to be twice as efficient. It is hard to see how the Chinese can do this on top of the massive (mal)investments already made in the capital-intensive sectors.
I like your Chinese pun. If I can suggest a variant; the Chinese family name, given first, is always one syllable; but often, perhaps usually, the personal given name is two syllables. So, in this case, perhaps Pon Zi-Fen would do? Then you get a double bi-lingual pun; “fen”, you see, is pronounced “fun”; and is also the Chinese monetary equivalent of “cents” or “pennys”.
The only hope for China is that indeed they can be very very fast learners. When I first worked there, in 1988, it was actually about 1951 there. Today it’s about 2004, I think. They’ve got 1.2 billion chances for smart people, however, and there’s every chance in the world that 5 years from now, we’ll be living in 1934, and the Chinese may have moved on to 2074. I hope we find out.
More news on China- from Japan. From NHK Japanese National Television news;
“Most Japanese travel agencies handling group tours from China say they have stopped or will not expand the business because it is unprofitable.
“An NHK survey has found that 24 out of 37 travel agencies have no plan to expand business beyond their current levels. Four others have stopped handling Chinese tours altogether. Just 5 are willing to handle more.
“Japan’s government has set a goal of attracting more tourists from China as one of its main growth strategies. The government says about 614,000 Chinese tourists visited Japan in the first 5 months of this year. Nearly 80 percent came in group tours.
“But price-cutting competition is intensifying. Japanese travel agencies say the price of a 6-day tour to Tokyo and Osaka has almost halved from 5 years ago, when it was about 1,250 dollars.
“Jul. 9, 2012 – Updated 09:53 UTC (18:53 JST)”I don’t add a link, because the NHK links only work for a day; ergo the text.
My translation: “The Japanese Government’s plan to bring the Japanese economy back to full health by taking in laundry from China has proven ineffective. Apparently, taking in each other’s laundry and paying each other for the labor does not actually result in economic growth. Everyone is astonished.”
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