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Market Currents

Sunday, July 5, 2009
11:00 AM TweetThis
Back to Today's Market Currents »

This news story has 7 comments:

  •  
    So THAT's what they've got planned for all that copper they've been buying. Phew!
    2009 Jul 05 11:19 AM Reply
  •  
    The larger the bull the greater the amount of BS.
    2009 Jul 05 11:41 AM Reply
  •  
    Listen to our government and its BS that makes one a world leader. So I guess we now have to bow to China as the new world leader( in BS).
    2009 Jul 05 01:06 PM Reply
  •  
    If ever there's a sign of a lacking innovative spirit to Chinese financial evolution, this is it. Rather than erect a statue of a dragon, or something innately Chinese (which would have been original, and quite possibly, dazzling), they have merely copied the ML bull. It's sad to see, in a culture which was once so innovative.
    2009 Jul 05 02:32 PM Reply
  •  
    Can there be ANY better sign of an imminent top?
    2009 Jul 05 02:36 PM Reply
  •  
    I must have missed them, but what innovations have the Chinese contributed in the last 100 years or so?

    On Jul 05 02:32 PM Daniel Harrison wrote:
    >> It's sad to see, in a culture which was once so innovative.<<
    2009 Jul 05 02:42 PM Reply
  •  

    On Jul 05 02:42 PM spald_fr wrote:

    > I must have missed them, but what innovations have the Chinese contributed
    > in the last 100 years or so?
    >

    Institutionalized insanity - the cultural revolution, copied by all the up and coming despots; Cambodia, Burma, N Korea, Iran. I suppose it could be argued that this was just a rip off of Stalin's successful use of collectivization to kill his own people. But Mao deliberately targeted intellectuals whereas Stalin was non discriminatory - he killed whoever got in his way.

    And let us not forget their innovative use of history in diplomacy - claiming Tibet as Chinese even though the people are of different ethnicity, and have a completely different culture and language, based on a specious claim from several centuries ago. By this logic, China should immediately give their sovereignty to Mongolia for the Mongols ruled China for centuries. Actually, this is just another application of Mao's dictum, political power comes from the barrel of a gun. Tibet had the misfortune to have resources that China coveted with no major power protecting them.

    Actually, China has been a very stagnant and insular society since around the end of Mongol rule - it is arguable they might have dominated/ruled the world if there hadn't been a mad emperor that burned their navy and put them on that withdrawn course, thus giving Europe time to rise. They were there first on important inventions (gunpowder, paper), and didn't exploit them, at least not fully, because of their societal structure.

    Their form of top down (the communism they espouse has a striking resemblance to imperial rule of centuries past to me) rule is not friendly to innovation. They have begun to do real research, but at some point they will run into this conflict again. Innovation creates turbulence, and that creates threats to ruling hierarchies - if they want to be a power in innovation, the communist hierarchy will have to go or at least drastically change. I don't think they have it in them to allow that.

    We'll see.

    Having said all that, I agree with Daniel that a dragon would have been far more appropriate.
    2009 Jul 05 05:16 PM Reply
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