HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Good Reads (Forum) » World Bank warns: China i...
Introducing Discussionist: A new forum by the creators of DU

Tue Feb 28, 2012, 01:40 PM

World Bank warns: China is a ticking time bomb-China & USA Rich Are BOTH Self-Destructing

Feb. 28, 2012, 12:01 a.m. EST
World Bank warns: China is a ticking time bomb
Commentary: Will Super Rich in China or U.S. be first to trigger meltdown?

..............

China’s Super Rich and America’s Super Rich are both self-destructing

Meanwhile back home, Washington, Wall Street and Main Street are so transfixed on our bizarre 2012 election drama, “American Idol” and other titillating reality shows that most fail to see what’s happening outside our narrow vision — like the World Bank’s game-changing new report predicting China’s headed for a major collapse that will sabotage the global economy.

Yes, a collapse of China. And what’s really fascinating is how China’s predictable doomsday scenario parallels America’s. Yes, we know America’s elite Super Rich gained virtual control over Washington the past three decades. And now, ironically, that same bizarre capitalism is sabotaging the goose that laid the golden egg for China’s Super Rich too.

In that game-changing study just released by World Bank President Robert Zoellick we’re “warned of a spreading crisis,” says Reuters.

Get it? The cause of China’s problems is exactly like America’s. In both nations, a new, powerful Super Rich is aligned with politicians — will eventually self-destruct. The World Bank warns that China’s corrupt state-owned companies have created a Chinese Super Rich class aligning communist party bosses and corporate executives.


MORE:http://www.marketwatch.com/story/world-bank-warns-china-is-a-ticking-time-bomb-2012-02-28

2 replies, 1185 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply World Bank warns: China is a ticking time bomb-China & USA Rich Are BOTH Self-Destructing (Original post)
kpete Feb 2012 OP
aquart Feb 2012 #1
Peace Patriot Feb 2012 #2

Response to kpete (Original post)

Tue Feb 28, 2012, 01:43 PM

1. So this is the true end result of communism, Karl?

Poor, deluded fool.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to kpete (Original post)

Tue Feb 28, 2012, 04:20 PM

2. It's kind of funny (in a dark sort of way) how the Corporate Media slander Chavez...

...in Venezuela, and call him a "dictator" (he's not), a "communist" (he's not), "undemocratic" (he's not) and so on, and have nothing to say about a REAL communist dictatorship which is now run by the super-rich--China!

Venezuela's political/economic system I can totally understand. They have a mixed socialist/capitalist economy--much like many European countries--and have one of the most honest, transparent election systems in the world, as well as one of the most vibrant political cultures.

What's wrong with this? Absolutely nothing. And it has been extremely beneficial to most Venezuelans, whose country was recently designated "THE most equal country in Latin America," on income distribution, by the UN Economic Commission on Latin America and the Caribbean.

Why, then, is the Chavez government so universally vilified and hated by the Corporate Press and their copy writers at the U.S. State Department, while they LOVE China and marvel at China's industrial "miracle" and make big, BIG corporate deals with China, and leap to outsource all our jobs to China's slave labor market, and honor China's truly dictatorial leaders?

Well, it looks like the World Bank (of all entities) has put their finger on part of the answer to the above question. It's okay to be dictators if you're doing it for GREED just like us!

And we can extrapolate from that why they hate Chavez and the Venezuelan people, who are the force behind the Bolivarian Revolution. They hate them because they have created prosperity WITHOUT greed--that is, SHARED prosperity. Good wages and benefits, high employment rate, access to free education including college, access to free medical care and other equality-producing programs. And they have done this DEMOCRATICALLY (much like we did here once, with the "New Deal").

That's what our oligarchs fear--democracy! Cuz, with democracy, comes sharing the wealth and other non-greedy and equality-producing ideas that are "the will of the people."

Neither our oligarchs (transglobal corporations and cabals of billionaires) nor China's give a crap about "the will of the people" and work actively to defeat it, one way or another--by brute force or by wile (i.e., 'TRADE SECRET' voting machines, etc.). They recognize and fawn over each other.

The Chinese oligarchs are not quite as stupid as ours are, though. The Chinese have invested in...you got it...Venezuela! Venezuela created a true "free market"--a level playing field for corporate investors (non-U.S. dominated and monopolized)--who, among other things, are required to pay their social dues when they invest in Venezuelan oil or other ventures. China has been one of the countries that have flocked to this market, now that monopolists like Exxon Mobil left the field in a snit over not getting ALL the profits and having to pay for education, etc. They could be making DECENT profits in Venezuela but chose NOT to, cuz they hate having to share! China and others (Spain, Italy, France, Norway and more) stepped into that void.

Nice irony. This story is full of ironies--one of them being that the leftist democracy movement that the Venezuelan people pioneered in Latin America is producing booming economies, despite the Bushwhack-induced Depression elsewhere. Economies are especially booming in South America--in Brazil, Argentina, Bolivia, Uruguay, Venezuela itself (big boom, 2003-2008, leveled by low oil prices in 2009 but back on the rise now) and other countries--and one of the premises of this prosperity is their rejection of the World Bank's usurious loans and IMF "squeeze the poor" straightjackets.

So, you gotta wonder about the World Bank and its report. Do they have an "agenda" in predicting the "fall of China"? I am certainly asking that question. They have been a major "bad actor" in Latin America. What is their history, and what are their intentions, in Asia? Is this report's warning genuine or manipulative?

Don't believe everything you read. Consider the source, always.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread