Posts: 19789
Threads: 57
Joined: September 24, 2010
Reputation:
85
RE: Who cares about China?
November 16, 2012 at 12:00 pm
The Outgoing Chinese government more or less intimated that they plan to take until 2020 to turn china from predominantly an export nation to a predominantly consumer nation. Some of the steps they are taking includes, gasp, building a nationalized health care system so citizens can spending their incomes on cars and DVD players instead of hoarding yuans in mattresses for when they break a leg and have to visit a hospital.
So the irony is the allegedly communistic sociaalist "chicom" china has no national health care system which righting nut jabs in this country see as sign of encroaching " socialism". Everything in hospitals there are cash and carry. The Chinese communists think it is absolutely essential to create subsidized national health care system in order to turn their society into a more capitalistic consumer society. But we can't expect faux news to digest this.
Posts: 67607
Threads: 140
Joined: June 28, 2011
Reputation:
161
RE: Who cares about China?
November 16, 2012 at 12:05 pm
(This post was last modified: November 16, 2012 at 12:06 pm by The Grand Nudger.)
Considering "some" prominent consumers of their exports current financial situations (and projections), do you think that it might be wise that they expedite this plan?
I am the Infantry. I am my country’s strength in war, her deterrent in peace. I am the heart of the fight… wherever, whenever. I carry America’s faith and honor against her enemies. I am the Queen of Battle. I am what my country expects me to be, the best trained Soldier in the world. In the race for victory, I am swift, determined, and courageous, armed with a fierce will to win. Never will I fail my country’s trust. Always I fight on…through the foe, to the objective, to triumph overall. If necessary, I will fight to my death. By my steadfast courage, I have won more than 200 years of freedom. I yield not to weakness, to hunger, to cowardice, to fatigue, to superior odds, For I am mentally tough, physically strong, and morally straight. I forsake not, my country, my mission, my comrades, my sacred duty. I am relentless. I am always there, now and forever. I AM THE INFANTRY! FOLLOW ME!
Posts: 19789
Threads: 57
Joined: September 24, 2010
Reputation:
85
RE: Who cares about China?
November 16, 2012 at 12:10 pm
(This post was last modified: November 16, 2012 at 12:16 pm by Anomalocaris.)
Because china has effectively no social safetynet, it's citizens are accustomed to save obscenely high proportion of their incomes for rainy day or old age. This dampens the average citizen's ardor to consume. It would take time to put in a social safetynet, assure everyone it really works, and convince them they can spend some of their income to buy discretionary consumer items now.
To add to the difficulty, the cost of living in china has risen enormously. Large block of Chinese who entered the workforce around late 1960s and early 1970s are coming close to retirement. They spend most of their working lives when china was poor and income low. So they have hardly saved enough to retire in the now richer and more expensive china. So these people will become a net drain on the Chinese economy as their retirement would have to essentially funded out of the incomes of current workforce, thus reducing their capacity to consume.
Posts: 67607
Threads: 140
Joined: June 28, 2011
Reputation:
161
RE: Who cares about China?
November 16, 2012 at 12:35 pm
That sounds familiar, now doesn't it..lol.
I am the Infantry. I am my country’s strength in war, her deterrent in peace. I am the heart of the fight… wherever, whenever. I carry America’s faith and honor against her enemies. I am the Queen of Battle. I am what my country expects me to be, the best trained Soldier in the world. In the race for victory, I am swift, determined, and courageous, armed with a fierce will to win. Never will I fail my country’s trust. Always I fight on…through the foe, to the objective, to triumph overall. If necessary, I will fight to my death. By my steadfast courage, I have won more than 200 years of freedom. I yield not to weakness, to hunger, to cowardice, to fatigue, to superior odds, For I am mentally tough, physically strong, and morally straight. I forsake not, my country, my mission, my comrades, my sacred duty. I am relentless. I am always there, now and forever. I AM THE INFANTRY! FOLLOW ME!
