CHINA/ TIME MAGAZINE

Elliot, Michael (2005) A new China rises TIME 6/27 26-54

There is a new China rising. China owns more of USA debt than any other country. More jobs are now being outsourced to China. China is building up its military. The wealth of the country is seen in the cities and the countryside is filled with poverty. Poverty exists also outside the bright lights. It is becoming a command capitalist country.

All the good economic indicators appear to be going China’s way. The country has a ton of WAL-MARTS and plenty of friends because of its prosperity. However, the pollution and the success can backfire. What if China ventures into overcapacity (making too many things with too few consumers?) Can it share its downfall? How can the USA stand by during China’s bad time? That may mean that Yanks may find themselves economically shelved by falling values on the dollar.

Can China innovate? The hard work of getting a market off the ground must be followed by innovating in technology. Can China do that? The Communist party has become stronger. What does that mean? You can call yourselves Communist but if property is private than that’s fascism.

So can a left-right twist make economic sense? The new socialism really means wage security now, not nationalization. Is that what is happening today? Do the Chinese know what is going on?

The way to oppose the party today is to move sideways. Don’t confront the party head on, move to the side and duck. Make noise in a way that does not threaten the party and you are on the way to make social change in a vast left/right wing country.