The Fear of Mao Buying the World

November 22, 2010

The cover of The Economist’s November 13 issue plays on fear to sell magazines.

I haven’t read Buying up the world, The coming wave of Chinese takeovers yet, which is the feature piece. I’ll probably write another post about that once I do.

Instead, I’m writing about the magazine’s cover, which is taking advantage of the West’s PTCSD (Post Traumatic Chinese Stress Disorder) that has roots in the “history” of a fear of the word “Communist”, the Korean Conflict and the Cultural Revolution.

I’m sure most Sinophobes that see this cover will have flashbacks of the People’s Liberation Army (PLA) and the rest of China dressed in drab Mao jackets marching across the world to take possession of everything China buys.

However, Mao isn’t the proper man to adorn The Economist’s cover.

Deng Xiaoping or one of China’s recent presidents (there have been four since the 1982 Constitution) would have been more appropriate.

Why? Because after Mao died in 1976, Deng Xiaoping and his allies rejected Maoist Revolutionary thought and embraced CAPITALISM in a very big way.

In fact, surviving Maoists consider the Party that rules China today to be traitors to Mao and the revolution.

Do you remember the 1980s, when wealthy Japanese spent billions buying property in America then a real estate bubble burst, Japan lost a lot of money, and its economy has been limping since?

If anyone should be afraid, it should be the Chinese fearing spending habits in the US, Canada and Europe where debt and plastic rule.

______________

Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

To subscribe to iLook China, look for the “Subscribe” button at the top of the screen in the menu bar, click on it then follow directions

Advertisements

Driving the Planet

July 1, 2010

CNNMoney’s Global Forum writes about China spreading money globally seeking resources. After all, China has cash reserves and is growing an economy with goals to lift hundreds of millions of Chinese into a middle-class American lifestyle. America, on the other hand, is in debt and spending money that it doesn’t have while its middle class is drowning in credit cards and sub-prime mortgages.

However, what benefits China, may also benefit the globe. Global Forum mentioned that Chinese solar companies are driving costs down so governments, like the US, may not have to offer subsidies as an incentive to get people to invest in renewable energy.

The CEO of China Mobile said people in China’s poorest, rural provinces were buying low priced mobile phones. If mobile phone are that low, why aren’t we seeing those prices in the US?  I priced phones for our daughter, who is on her way to college, and the model I liked was about $100 or 680 yuan—more than most China’s peasants earn in two months.

I wonder if we can buy mobile phones in China and slip our old chip into that new, lower-priced phone.

See China’s Cheap Price Structure

_________________________

Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

Sign up for an RSS Feed for iLook China