I read every day some article about China being in trouble. Well, there is just another one:
www.vox.com/2015/7/9/8922727/china-economy-stock-market-problem
I read every day some article about China being in trouble. Well, there is just another one:
www.vox.com/2015/7/9/8922727/china-economy-stock-market-problem
Good read.
A summary of this article; China has dificulty thinking outside the box, they have difficulty adapting.
We westerners see it everywhere in this society.
the people who are hogging all the power and access to wealth will have to let go. but that is like asking the turkey to vote for thanksgiving.
China's economic problem is trying to control the economy too much. Deng's innovation was to ease controls and let the people (markets) do their thing.
These people need to be locked up.
www.dailymail.co.uk/[...]
I'm all for free markets and getting rich legitimately but this is disgusting.
I'm not sure about the parameters of 'getting rich legitimately' - in my opinion, concentrated individual wealth is disgusting - but anyway, certainly these people aren't doing it - Spoiled-Brat Syndrome. It's depressing to see the Porsches and Lamborghini's in the evening on Wenlinjie, especially if you've been to villages.
At least the story had a happy ending - I saw the pictures of the smashed up cars - Haha!
Just think of what 1/3 of that wasted money could do. Build new schools in rural areas. Buy school supplies. Buy clothes and so much more. Really sad. The picture with the girl burning up several 100 RMB really pissed me off.
Below are two words with similar topography that could easily be mistaken for each other, if you glance at them quickly.
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fuerdai
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feudal