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Originally posted by Kovenov
I take it this represents a more pronounced step toward war hysteria? If nothing else it is probably calculated brinkmanship that lays further groundwork for increased tension with China, reminiscent of that which occurred between the U.S. and Japan prior to WWII. I mean beam me up already: "the U.S. is a Pacific nation." (????)
Here is what Admiral (Retired) Ackbar had to say about that onerous line:
Commentary on an issue that is perhaps less than obvious: The RMB fixed rate (i.e. pegged rate) is a talking point commensurate with the energy one must expend to argue in favor of ignorance. At least from my point of view it is a mischievous tool employed for political expediency; moreover, its juxtaposition into Kissinger-like realist (sidenote: the realists do make valid points that should not be outright neglected) foreign policy is being used as leverage to induce domestic and international approval. I mean if a political body can mitigate domestic frustration by deflecting a portion of its failed domestic policy to a pegged RMB, why not? But that sort of rhetoric is not exclusive to one party, but representative of a bipartisan beatitude that is useful for some, but not all, politicians.
Originally posted by Section31
Originally posted by xlb40
See, Chinas "growth" is based purely on how many empty buildings China can build. We know them as "Ghost Cities", where 90% of these cities are virtually empty. Right now, China is ripe with bad investment growth schemes aimed at keeping production high. According to Jim Chanos, 60% of Chinas GDP today is based on fixed investments. This is MASSIVE and has often been labeled as "Dubaix1000!".
Holy Crap! I forgot about this...
Link: The Ghost Towns of China
MailOnline - Dated: 12/18/2010
Elaborate public buildings and open spaces are completely unused, with the exception of a few government vehicles near communist authority offices.
Some estimates put the number of empty homes at as many as 64 million, with up to 20 new cities being built every year in the country's vast swathes of free land.
It was filled with office towers, administrative centres, museums, theatres and sports facilities as well as thousands of homes, but remains virtually deserted.
How the hell are they able to fake this one?