The obscure disease of the West

Yesterday I was leafing through some newspapers on the net when a China Daily's article caught my eye. I couldn't believe it was true.

The Chinese Ministry of Commerce (MOC) spokesman Yao Jian said Chinese companies invested $20.35 billion in non-financial sectors in 110 countries and regions during the first five months, up 42.3 percent year-on-year. Chinese companies investing overseas should abide by local laws and should not be discriminated against, he added.

Well, what can I say?

I guess we will have big big troubles with China in the next few years.

Everybody has often heard about the currency war between China and the U.S. but "the no. 1 problem with China’s economy is probably intellectual property theft. Technology companies, for example, continue to notice Chinese government agencies downloading software updates for programs they have never bought, at least not legally.

Next on the list, say people who work in China or do business there, is the myriad protectionist barriers China has put up. In some cases, Beijing has insisted that products sold in China must not only be made there but be conceived and designed there. The policy goes by the name “indigenous innovation". China’s elite, in government and business, are deeply concerned that their companies remain unable to create truly innovative products. The obsession with the fact that no Chinese citizen has won a scientific Nobel Prize stems partly from this worry"(New York Times).

In the meanwhile, Western consumers keep enjoying mountains of cheap goods and thousands of factories, hundreds of thousands of jobs and hundreds of billions of dollars of national wealth leave our countries for good every year.

Unfortunately, there isn't any going back at the monent as it is a good thing for factories and jobs to be going to China because they can produce things cheaper than we can. Therefore our insane trade policies are making China incredibly wealthy. Over the past few decades, the Chinese have been able to accumulate approximately $2.5 trillion or more in foreign currency reserves and now we constantly have to send our top government officials over there to beg them to continue to lend that money back to us to fund the our exploding sovereign debts.
That just isn't stupidity - that is insanity.

Are you willing to have your taxes raised substantially to pay for all of the welfare cases that "free trade" is creating?

Day by day we are going toward a trade war or something even worse.

In other words, now a non-democratic nuclear superpower like China has us by the throat and the U.S. government knows it very well.

In fact, the U.S. Navy will get a base in Singapore and there is a new agreement for delivering ten Boeing C-17 tactical transport aircraft to India as Pakistan asked China to build a naval base at its south-western port of Gwadar.

Yet The United States may allow its contractors to upgrade Taiwan's existing F-16 A/B jet fighters later this year or next year, according to a report carried in the latest issue of Defense News.

The taiwanese reinforcement had already been defined by Beijing the "red line" that Washington should not cross.

Once Napoleon Bonaparte said when China wakes up the World will tremble; he was right  and the World should have let China sleep.