One of the great ironies revealed by the global recession that began in 2008 is that Communist Party-ruled China may be doing a better job managing capitalism’s crisis than the democratically elected U.S. government. Beijing’s stimulus spending was larger, infinitely more effective at overcoming the slowdown, and directed at laying the infrastructural tracks for further economic expansion.
Heh. Translation: the Chinese Communists are superior to Obama! That’s why he bowed last night. More:
As Western democracies shuffle wheezily forward, China’s economy roars along at a steady clip, having lifted some half a billion people out of poverty over the past three decades and rapidly creating the world’s largest middle class to provide an engine for long-term domestic consumer demand. Sure, there’s massive social inequality, but there always is in a capitalist system. (Income inequality rates in the U.S. are some of the worst in the industrialized world, and here more people are falling into poverty than are being raised out of it – the 43 million Americans officially designated as living in poverty in 2009 was the highest number in the 51 years that records have been kept.)
It’s easier to “lift half a billion out of poverty” after starving and slaughtering 45 million, no?
”If China becomes the world’s No. 1 nation … .” That was the headline in the official newspaper of the Chinese Communist Party, The People’s Daily, on the eve of Chinese President Hu Jintao’s state visit to Washington. The article went on to boast how “China’s emergence is increasingly shifting to debate over how the world will treat China, which is the world No. 1 and has overtaken the U.S.”
A story like this does not appear by accident in the official Chinese Communist Party newspaper on the eve of a state visit to the world’s (current) No. 1 power, the United States.
Leave it to our media buffoons to echo the communist Chinese press.