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Why China's Growth Will Continue
Pinnacle Digest writes: The CPC (Communist Party of China) has studied the failures and defeat of the Soviet Communist Party and for that reason, will continue to expand and prosper. This was the message of Russian Communist Party leader Gennady Zyuganov who discussed China in a recent interview.
Zyuganov stated that, "After the defeat of the Soviet Communist Party and collapse of the Soviet Union, the Chinese have studied our tragedy thoroughly and scientifically."
In a love fest for China, surely politically motivated, Zyuganov went on to say that, "The CPC has found a rational balance between state, collectivity and individual. They have also promoted social guarantees and security. And they have not lost political principles."
Although the global crisis has impacted some 200 countries, the Asia-Pacific region, led by China, has remained a haven for growth and opportunity. The article discusses the millions of Chinese who have been lifted out of poverty in the past decade. Chinese President, Hu Jintao acknowledges there is still much to be done to 'bridge the gap' between the rich and poverty stricken.
After discussing the benefits of a close China-Russia relationship, Mr. Zyuganov cites the stagnation of the US and European economies and worsening situations in other countries. Zyuganov explained that China now "bears a mission to help the rest of the world to overcome the crisis, to get out of that deadlock provoked by the US liberal economic model."
The most critical upcoming event in China and the Asia-Pacific region will be China's 18th national congress of the CPC. This will see the transition to new central leadership occur in November.
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Re: Why China's Growth Will Continue
There is no question that the Chinese economy offers lots of profit potential, but it also requires extra due diligence considering the looseness of their accounting practices plus other risks peculiar to the jurisdiction. The Achilles heel of the enthusiasm for investing in China with its stellar GDP growth compared to most other countries is twofold; 1) it is a curious mix of old style Communist thinking coupled with its own capitalist imprints that have yet to be proved, and 2) it still uses the what should by now be a thoroughly discredited fiat debt financing system that has changed the United States from the worlds #1 creditor nation to its most indebted! The simple and mathematical certainty is that the accumulated debts of the U.S. and Europe can NEVER be paid off in SOUND MONEY in even our children and grandchildrens lifetimes. So our politicians muddle along refusing to acknowledge reality "pretending" that all is okay and the economy is in recovery ad nauseum.
A return to the glory days of the 50's-60's is not in the cards, the economic catastrophe that is barreling down on us can no longer be avoided, it can at best be delayed, then the ironic part is that the end result could have been mitigated had appropriate steps been taken early enough and the FIRST STEP is returning to SOUND MONEY principles instead of the counterfeiting monopoly we have tolerated since the Federal Reserve Act was sneaked through Congress in 1913.
thinker70