Some people argue that China hasn't even industrialised yet, but rather is an "industrial neo-feudalist" society.
I would agree with that assessment. Even the geographical area we know as "China" is a fairly modern invention.
Quote:
Sort of like how some third world countries cannot be considered industrial just because they have a few manufacturing free trade zones in their territory.
Like Australia?
“Talk sense to a fool and he calls you foolish.” - Euripides
Drivers in China are known for intentionally killing the people that they hit accidentally. Pedestrians are hit by the driver unintentionally but then the driver panics and runs over the person again and again to make sure they are dead.
The reason for this phenomenon is an incentive system that makes the consequences far less punitive if the pedestrian is killed rather than just wounded. A driver would have to pay for that person’s injury for the rest of the victim’s life if the victim survives. If they don’t survive the driver only has to pay a one time lump sum to the family
Lets hope the chinese emigrating out here realize our laws are different.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Not unexpected. China's main customer base the EU and the US are in the doldrums and have been so for several years. All the government and central bank intervention is starting to fade. Don't need to be a brain surgeon to see what is occurring.
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.
Not unexpected. China's main customer base the EU and the US are in the doldrums and have been so for several years. All the government and central bank intervention is starting to fade. Don't need to be a brain surgeon to see what is occurring.
Fucking naïve to think you can turn $2 a day factory workers into a nation of the consumers overnight.
Consumerism needs billions in investment in advertising to tap into the inner insecurities of people and make them buy shit. You need research, focus groups, airtime, print, media, a whole fucking industry that can't be created overnight, no less run by central government bureaucrats. Creative people need to run this shit.
Consumerism is also sustained by credit cards offers in the mail, installment schemes, leasing schemes, and a whole bunch of credit industry products and services to keep consumers spending beyond their means.
Can't fucking force $2 a day workers or even the regular Chinese middle class to go shopping on a hope, prayer, or commie decree (they would rather day trade).
China won't have a plan B beyond cheap labor for western consumers. Their copycat dream of fostering internal consumption without a corresponding massive investment in advertising, consumer loan industry, etc is naïve, laughable, and pathetic
Not unexpected. China's main customer base the EU and the US are in the doldrums and have been so for several years. All the government and central bank intervention is starting to fade. Don't need to be a brain surgeon to see what is occurring.
How many widescreen tv's do you need?
We've reached saturation point.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
None. I have a Sony 68cm cathode ray tube TV I purchased new in 2004 and am happy with it as there is fuck all worth watching on TV these days.
createdby
15 Sep 2015, 10:06 PM
Fucking naïve to think you can turn $2 a day factory workers into a nation of the consumers overnight.
Consumerism needs billions in investment in advertising to tap into the inner insecurities of people and make them buy shit. You need research, focus groups, airtime, print, media, a whole fucking industry that can't be created overnight, no less run by central government bureaucrats. Creative people need to run this shit.
Consumerism is also sustained by credit cards offers in the mail, installment schemes, leasing schemes, and a whole bunch of credit industry products and services to keep consumers spending beyond their means.
Can't fucking force $2 a day workers or even the regular Chinese middle class to go shopping on a hope, prayer, or commie decree (they would rather day trade).
China won't have a plan B beyond cheap labor for western consumers. Their copycat dream of fostering internal consumption without a corresponding massive investment in advertising, consumer loan industry, etc is naïve, laughable, and pathetic
But the rhetoric has been for a number of years that China will replace lost external demand with internal demand. How? The majority of Chinese are still poor and you only need to move away from the big population centres to see the evidence.
People keep confusing desire with demand. Example; many Chinese people want a life away from the rural poverty - that is the desire. But only a percentage of them can achieve that - which is the demand. Demand is less than desire and the limiting factor between the two is the availability of capital. You need good paying, secure jobs to have the necessary capital. This also increases the chances of people being able to borrow money to further enhance their demand for that lifestyle. Poor people can never add to the demand for anything.
China will be fine. They shifted to a service and consumption based economy. Service like begging on the streets and consumption like eating grass. It's all good. North Korea is best Korea, as Warren Buffet would suggest.
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