Monday, February 21, 2005

An economic aneurysm

Channelnewsasia.com: "Some view the rise of China as 'simply an economic threat to the advanced industrial economies' and sought protectionism against Chinese imports.

'But let us be clear that this is only a sterile attempt to stop the clock and resist inevitable change.

'China has been responsible for keeping the world economy growing as the advanced industrial economies went into a downturn.

'Indeed, without China, trade growth which slowed more than at any time in recent world downturns would have ground to a complete halt or gone into reverse,' he said"

China's prodigious growth has kept global growth going even through the major down turns of the last 10-15 years.

But what will happen when China has its first depression? When this bubble, this aneurysm, bursts, the rest of the world will suffer -- and it will hurt us all.

It is time to stop the pyramid scheme of capitalism. Stop the osmosis of exchange value. We need to stop excluding people from life and start including.

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