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    • China: No, But This Time Really Is Different [view article]
      Interesting, but only from an academic perspective. Kind of like looking in the rear view mirror. There's nothing back there that relates to what's in front of you.

      "This time it's different." is always valid. Somewhere along the line, the difference is in a better educated power structure. Sometimes it's in the quality and/or quantity of intellectual resources. Other times it's the "Joe six-packs" of a country that tastes the fruit of law-based capitalism and vow never to go back to a centralized, autocratic system that guarantees poverty for all.

      On the dark side, sometimes it's in the total breakdown of the leadership's moral compass. E.g. Hitler, Stalin, Hussein, etc. that retards a country's development. Sometimes it's total incompetence, Mugabe and, to a much lesser extent, G.W. Bush, of that leadership.

      China 2008 is not China-past. Economically, China past does not exist. China-future is dependent on the quality of her leadership and so far, so good.

      Capital inflow is a direct result of expected profit outflow. There are some very bright folk out there that follow that mantra. All the way to Beijing. Just about all of them believe Henry Ford's quote; "History is bunk."

      A final note: Disasters (e.g. Earthquakes, Tibet, severe economic recessions) do not define a country's economic future. The response to these issues, of her government power structure, does.



      May 17 12:50 AM
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