abramicus Post time: 2015-8-25 14:39
ALL PRETENSIONS TO SAVING THE ECONOMY WILL NOT WORK, UNTIL THE YUAN DEVALUES TO 6.50 OR LOWER. ALL ...
It is not advisable to grow the economy forever. You can't do that every year with economy growth. You need to balance the growth between, infrastructure building and manufacturing, in order to have more humanistic economy growth. China is pursuing BARBARIAN economy growth which destroy their country precious environment.
China need to take a look at HUMANISTIC economy growth, which benefit everyone, rather than a few elites well connnected.
Humanism is what Chinese economy is all about. Lifting 1.3 billion people out of abject poverty is not an academic exercise. It requires the strictest of discipline and extreme effort on everyone's part. No country could claim to have lifted so many of its people out from poverty in as short a time. In China, the right to life is the source of all the secondary rights, and not all human rights are equal. Living is the first and foremost right that the Chinese economy has been dedicated to defending.
And, in their quest for the Unholy Grail of being knighted by the IMF as a reserve currency of its SDR's, the economic leadership of China has been forced to choose several lesser evils, that together form the spear that pierces the heart of the Chinese people.
They have lost the export market, they are losing their hard-earned foreign currency reserves, they are losing even their domestic savings to borrowers who are forced into bankruptcy by the overpricing of thier products due to the overvalued Yuan exchange rate.
They have lost the China Dream. This is NOT a new NORMAL. This is truthfully, a disaster.