In the news are more and more stories about how strong the Chinese economy is, and the question of whether we should be concerned. Recently, a racist anti-China commercial has been used by Republican affiliated PAC'S and Special Interest Groups to attack Democrats. It portrays the Chinese as laughing about the demise of the American Leadership due to budget deficits and other economic mismanagement.
First, the Chinese are not our competition. They are a poor country with a much much larger population. Can we, should we, blame the Chinese because they are a hard working society which promotes production of "real goods" while we continue to refuse to refuse to work, and when we work, we tend to "shuffle" existing assets instead of creating new ones. Let me explain. Only in the airplane construction industry are we are a major net exporter and world leader, yet we allowed Europe to subsidize Airbus and, in the name of Capitalism, we care more about deregulating financial markets instead. Financial markets, those in the finance industry, like lawyers, accountants, PR consultants, and on and on, at which so many of us work, add nothing to our real GNP. They do not add anything to our ability to pay for imported goods.
First, the Chinese are not our competition. They are a poor country with a much much larger population. Can we, should we, blame the Chinese because they are a hard working society which promotes production of "real goods" while we continue to refuse to refuse to work, and when we work, we tend to "shuffle" existing assets instead of creating new ones. Let me explain. Only in the airplane construction industry are we are a major net exporter and world leader, yet we allowed Europe to subsidize Airbus and, in the name of Capitalism, we care more about deregulating financial markets instead. Financial markets, those in the finance industry, like lawyers, accountants, PR consultants, and on and on, at which so many of us work, add nothing to our real GNP. They do not add anything to our ability to pay for imported goods.
