""China and its economy is in deep shit. It has crashed." ?

Big Dog Striker

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The American Dream of equal opportunities and hard work says you can be born in the Bronx and end up at 740. But is that dream still true?

http://topdocumentaryfilms.com/park-avenue-money-power-american-dream/
One in a million chance but most probably in Silicon Valley. However, if there's one place in the world that this would have the biggest chance of happening it would still be America. A person could be the best baseball player in Cuba but he'll never live in 740 unless. :nod:
 
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jesuschrist

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When the British PM have to greet the Chinese during the New years, that is the sign China's economy is not in deep shit. But the world crash if China decide not to spend any of their money overseas. Amazing how the British empire falters during this past century. Is Nial Ferguson still a best seller in the west? His books might singlehandedly revitalize the West, but I don't think so.
I doubt Niall Ferguson's book would do anything but give a dim hope, even as he has the ear of the American administration these days. I like him a lot, but sadly he's turning out to be nothing more than very entertaining (and knowledgeable about the West, only). Luckily he encouraged Martin Jacques to write his book, that is greatly illuminating about the world to come.

As for the British PM, what irony.... he might as well have cap in hand trying to secure investment should his country befall the ultimate consequences of the financial crisis of 2008. Now the Chinese are certainly not going to forget, their proclivity for long memories aside, how Britain forced opium on the Chinese - and when the Emperor outlawed the trade of opium, was met with British gunships and the surrender of Hong Kong as part of the war reparations.
 

vancity_cowboy

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on yer ignore list
http://en.wikipedia.org/wiki/Opium_Wars

The Opium Wars, also known as the Anglo-Chinese Wars, divided into the First Opium War from 1839 to 1842 and the Second Opium War from 1856 to 1860. These were the climax of disputes over trade and diplomatic relations between China under the Qing Dynasty and the British Empire.

Opium has been known in China since the 7th century and for centuries it was used for medicinal purposes. It was not until the middle of the 17th century that the practice of mixing opium with tobacco for smoking was introduced into China by Europeans.[citation needed] In 1729, its import was 200 chests, and by 1790 it amounted to over 4,000 chests (256 tons) annually. In 1858, about twenty years after the first opium war, the annual import rose to 70,000 chests (4,480 tons), approximately equivalent to global production of opium for the decade surrounding the year 2000.[1]

The first Chinese anti-opium edict was issued in 1729, enacting severe penalties on the sale of opium and the opening of opium-smoking divans. Similar laws were enacted in 1796 and 1800, but opium importation continued to increase. British merchants brought opium from the British East India Company's factories in Patna and Benares,[2] in the Bengal Presidency of British India, to the coast of China, where they sold for a good profit.

With the drain of silver and the growing number of the people becoming victims of the drug, the Daoguang Emperor demanded action. Officials at the court, who advocated legalization of the trade in order to tax it, were defeated by those who advocated suppression. In 1838, the Emperor sent Lin Zexu to Guangzhou, where he quickly arrested Chinese opium dealers and summarily demanded that foreign firms turn over their stocks. When they refused, Lin stopped trade altogether and placed the foreign residents under virtual siege, eventually forcing the merchants to surrender their opium to be destroyed.

In response, the British government sent expeditionary forces from India, which ravaged the Chinese coast and dictated the terms of settlement. The Treaty of Nanking not only opened the way for further opium trade, but ceded territory including Hong Kong, unilaterally fixed Chinese tariffs at a low rate, granted extraterritorial rights to foreigners in China (which were not offered to Chinese abroad), a most favored nation clause, and diplomatic representation. When the court still refused to accept foreign ambassadors and obstructed the trade clauses of the treaties, disputes over the treatment of British merchants in Chinese ports and on the seas led to the Second Opium War and the Treaty of Tientsin.[3]

These treaties, soon followed by similar arrangements with the United States and France, later became known as the Unequal Treaties, and the Opium Wars represented the start of China's "Century of humiliation".
it was a great business while it lasted

ships took manufactured goods from england to india, opium from india to china in exchange for silver, and tea from china back to england. then they did it all over again

and the royal navy protected the entire route from pirates

various ports were established along the way for the royal navy, such as singapore, and indian recruits were used to protect them
 

Big Dog Striker

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China will grow by at least 7%. Crash looks like wishful thinking for some. Whoever predicted that China would grow by 10% before was nuts anyways. Then when China didn't reach it, analysts thought they were in trouble. The only time it would crash is if they try to unload the US $ 1.7 Trillion they have in their treasury. So the best thing to do as what they've been doing is to hedge the currency by investing in the US. :nod:
 

Big Dog Striker

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More than 50% of all Louis Vuitton purchases worldwide are made by Chinese people. :nod: LV is my barometer of the Chinese economy. lol :) :)
 
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