After the recent flurry of news and discussion about North Korea, the folowing exchange took place on the Daily Telegraph blog:
Investing in China? Why not?:
A) Nobody knows exactly what is going on in the Chinese financial sector.
B) The country has trememdous pollution, resources and demographic problems.
C) These factors will lead to massive economic problems at some point, and then the CCP will attempt to divert attention to foreign enemies. (that is potentially eveyone else)
D) If I had money I would avoid China like the plague.
As I have llittle money to spare I wish those chancing their arm in and with China the best of luck, but don’t come to ME for a bailout.
Excuse me, but wasn’t it your government who was over here in Beijing last week with cap in hand looking for money? This must be a new definition of “avoiding like the plague”.
There are many of us (Brits) here in China investing wisely and seeing handsome returns. The BIG difference between investing in China and investing in the UK is that if you succeed in China your money isn’t taken away from you by a bunch of socialists like it is in the UK.
Apart from my previous points:
A) China is the best friend and supporter of what is possibly the most brutal, hideous and brutal regime ever to stain the earth. China not only supports this regime with fuel and other goods but sends back to a terrible fate anyone fleeing fromn what is essentially no more than a giant concentration camp.
B) China has no social security to speak of and many of its products are made in sweatshops where workers have very low wages poor conditions and few rights (though this situation has improved a bit).
C) Western capitalist greed and the resultant vast relocation to Asia (and I am not anti-capitalist in principal, but everything can be abused) has led to the loss of tens of thousands of industrial jobs in the developed world and the vast increase in the wealth-gap as the working and middle-classes have been squeezed while the bosses and capitalists have seen their wealth increase exponentially.
None of this seems to bother you to the point where you would not support the regime with your investment as long as you are making money. Wonderful.
However, as I also said, when the whole thing collapses, don’t come begging to me for a bailout.
Concerning Cameron’s grovelling jaunt to Beijing, I found it sickening. Yes, being moral is difficult – who said otherwise – but all in all the western approach is profoundly immoral. The CCP pays lip-service only to any concerns of “human rights”, which do not concern them AT ALL. We should be better.
As for “bunch of socialists”, I agree to a point. There is appalling abuse and waste of our money. However, WE HAVE A CHOICE (unlike the Chinese). It is the public’s fault if it keeps on voting in idiots.