The Democracy Club and the rest of the world – Part 1/2

April 23, 2012

Recently an e-mail arrived from a friend, and she provided a link to a CNBC.com piece about India testing an intercontinental ballistic missile with a range of more than 3,100 miles.  The test was successful. This long range missile is capable of reaching deep into China and Europe.

My friend wrote, “This doesn’t thrill me. I think the international community should come down just as hard on India as on North Korea.” She was right, and the Hindustan Times reported, “North Korea violated international law by missile launch.”

So, why is North Korea’s failed missile launch different than India’s?

Nowhere in the CNBC piece was India criticized as North Korea was for its failed test of a long range ballistic missile.


This 10 minute video may “BLOW” your mind—pun intended!

Instead, CNBC reported, “India lost a brief Himalayan border war with its larger neighbor, China, in 1962 and has ever since strived to improve its defenses. In recent years the government has fretted over China’s enhanced military presence near the border.”

In addition, Srikanth Kondapalli, professor in Chinese studies at Delhi’s Jawaharlal Nehru University told Reuters, “India can now deter China, it can impose maximum possible punishment if China crosses the red line.”

It is obvious to me that there is a double standard in the world.

There is the Democracy Club and countries that feed the world’s democracies with oil and then there is everyone else.  India is a member of the democracy club and seldom if ever is criticized in the Western media even though the maternal mortality rate is 46.07 deaths per 1,000 live births (ranked #1 globally), life expectancy is 67 years at birth, 43.5% of the children at age five are underweight (the highest in the world), about 5 million children die (50 million each decade) from malnutrition and starvation annually, the literacy rate is 61% of the population, and 25% (more than 300 million people) live below the poverty line. Source: The CIA Factbook

Comparing India’s democracy to a non-democracy, such as China, reveals the double standard I’m talking about.

Before 1949, life in China was equal to or worse than India is today (life expectancy was 35 and 87% of the people lived in severe poverty).  However, according to the CIA Factbook, today, the most recently reported maternal mortality rate was 15.62 deaths for each 1,000 live births ( a third of India’s and ranked #111 globally), life expectancy was almost 75 years of age, and literacy was more than 92% while the population living below the poverty line was 13.4% (about half of India).


6,000 children starve to death in India EVERY DAY

Then there is the fact that India’s middle class is about 5% of the population (61 million), while it is estimated that China’s middle class is now more than 230 million people or 37% of the total urban population. With all of these facts for a comparison, there is no doubt that the quality of life in China’s authoritarian republic is far better than life is in India’s democracy where people are “free” to starve and be illiterate.

Moreover, nowhere in that CNBC piece does it mention that India also fought border wars with Pakistan and Nepal—India fought with Pakistan in 1947, 1965 and came close to war in 1990 all over disputed Kashmir.

In fact, soon after the conflict with China, India had a clash with Nepal over a paltry 75 square km in Kalapani.  Indian forces occupied the area in 1962, and the dispute with Nepal intensified in 1997.

Nowhere in the CNBC piece does it mention that India has 90 nuclear weapons while China has about 240.

Is India really serious about punishing China for future  alleged violations of a disputed border?

In addition, the American/Western media crucifies North Korea for having 10 nuclear warhead compared to America’s 8,500 and Russia’s 11,000.  Source: Huffington Post

Now, don’t get me wrong, North Korea’s government has earned its infamy, and I’ll spend more time with what that means in Part 2. Oh, lest I forget, North Korea has tested two nuclear bombs—one in 2006 and one in 2009. How many nuclear bombs has America tested? Watch the first video to discover that answer.

Continued on April 24, 2012 in The Democracy Club and the rest of the world  – Part 2

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”!
Sign up for an E-mail Subscription at the top of this page, or click on the “Following” tab in the WordPress toolbar at the top of the screen.

About iLook China

Advertisements

Contaminated Water and Soil is a Global Problem – Part 5/6

February 19, 2012

INDIA

The Arlington Institute says, “Given that India does not regulate water usage, it should come as no surprise that there is also little regulation on pollution and even less enforcement of what regulations do exist. Millions have been spent on pollution clean-up, but no one knows where it went (most likely into the pockets of corrupt government officials) because no changes have been seen.


Contaminated Water Sickens Villagers in Eastern India

“In 2005, a government audit indicted the Jal Board for having spent $200 million on pollution clean-up achieving essentially no tangible results. A combination of sewage disposal, industrial effluents, chemicals from farm runoffs, arsenic and fluoride has rendered India’s rivers unfit for drinking, irrigation, and even industrial purposes.

“New Delhi alone produces 3.6 million cubic meters of sewage every day, but, due to poor management less than half is effectively treated. The remaining untreated waste is dumped into the Yamuna River…


India Water Pollution

“Every river in India is polluted to some degree. The water quality in underground wells violates the desired levels of dissolved oxygen and coliform, the presence of which is one measure of filth, in addition to having high concentrations of toxic metals, fluoride, and nitrates.” Source: World Bank Report on Water in India.

“India is facing a looming water crisis that has implications not only for its 1.1 billion people, but for the entire globe. India’s demand for water is growing even as it stretches its supplies. Water infrastructure is crumbling, preventing the government from being able to supply drinking water to its citizens. Pollution is rampant due to unfettered economic growth, poor waste management laws and practices.”


India’s sanitation crises

The CIA Factbook says, India’s land surface covers 2,973,193 square km. Arable land covers 48.83% of this area and permanent crops cover 2.8%.

The CIA says, ‘Environmental – current issues’ are, “deforestation; soil erosion; overgrazing; desertification; air pollution from industrial effluents and vehicle emissions; water pollution from raw sewage and runoff of agricultural pesticides; tap water is not potable throughout the country; huge and growing population is overstraining natural resources…

“Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work…

“India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, and insufficient access to quality basic and higher education, and accommodating rural-to-urban migration.”

________________________

This comment was originally posted at Discovering Intellectual Dishonesty – Part 6 on January 31 at 23:34 by an anonymous reader called Bosshard.

Deceit upon deceit?

Dear author, what we find most annoying in the behavior of others are those same behaviors of which we are equally guilty. You appear to dislike: lies, half truths and manipulation.

Regarding water-

You have much to learn.  Boiling water is good for killing bacteria and the like but does nothing to stave off the ill effects of heavy metals like copper, lead and the like. According to the BBC, at least 10% of all Chinese land is contaminated with heavy metals, which are not rendered inert by boiling. Thus, boiling water in China does no good when these elements are present.

When you made your comment, were you engaging in ““willful deception and a refusal to play by the rules?” when you state that boiling Chinese water is an anti-dote?

And an aside, do you personally drink the same water as the folks in Guizhou or Gansu, or do you purchase bottled water, a thing many of them cannot do?

As for your forgone conclusion that the need for water is greater than that of religion, I would disagree. Freedom of religion is paramount to many souls, just ask the Tibetans who will take their own lives in order to achieve such an end. If I were forced to give up my religion for water, I would not do so.

Please do not pretend to know the mind of the masses when yours may not be as open as you may believe.

This site has much information, but the author, like the Jesuits of old appears to have conjured up a China that he wishes us to believe in. The brutal reality of the communist regime  and havoc it brings to its people can best be understood by reading books like Empire of Lies, The Beijing Consensus, Poorly Made in China, The Party, and a host of others.

I will not return to this comment nor website but would like to offer this question:

If you have lived in China, and all of your readers, then you truly know the truth of this place. And if you truly know the truth of this place, then do you think it’s right to knowingly deceive the people about it?

God bless and keep all His children safe and informed.

Continued on February 18 at  Contaminated Water and Soil is a Global Problem – Part 6 or return to Part 4

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”
Sign up for an E-mail Subscription at the top of this page.

About iLook China


Contaminated Water and Soil is a Global Problem – Part 1/6

February 15, 2012

In “Deceit upon Deceit?” an anonymous reader called Bosshard left a comment to another post, which I decided to delete and republish in this series after I did some research on the subject.

In fact, the entire comment will end each post in this series as a reminder of what Bosshard wrote, because I see his comment as an example of a double standard, which means China is judged in isolation while many other nations with the same problems/challenges [or worse as you will discover] are often ignored.

When I first read the comment and approved it for the other post, I came away feeling as if Bosshard had singled out China as a villain when in fact, heavy metal pollution of soil and water is a global problem and not exclusive to China.

When I said the Chinese could boil water to rid it of pathogens, I had not considered heavy metals, which I know may only be removed with special filters or by distilling the water.

In fact, drinking unsafe water with pathogens may lead to a miserable death much sooner than drinking water contaminated with heavy metals.  Survival Topics.com says, “According to the Wilderness Medical Society, water temperatures above 160° F (70° C) kill all pathogens within 30 minutes and above 185° F (85° C) within a few minutes. So in the time it takes for the water to reach the boiling point (212° F or 100° C) from 160° F (70° C), all pathogens will be killed, even at high altitude.”


safe drinking water is a global problem.

However, when rural Chinese are faced with the choice of drinking water that may be contaminated with both pathogens and heavy metals and all that is available is boiling, what choice do the Chinese have? As a backpacker that has hiked many times in California’s mountains, I have used both a ceramic filter to purify the water and boiled it.

Drinking water contaminated with pathogens may lead to a quick and miserable death much faster than drinking water contaminated with heavy metals.

Anyone interested in the Health Risks of Heavy Metals may want to click on this link and read about it. Then you may want to make sure to buy a filter designed to remove heavy metals from water or buy a countertop distiller.

If you watched the videos with this post and heard the comment that two billion people, about a third of humanity, drinks unsafe water, then Bosshard’s comment was disingenuous since he focused his criticism on China while ignoring the rest of the world.

Nation Master.com published an environmental ranking of freshwater pollution in sixty-nine countries. Number ONE was Israel with the most freshwater pollution at 27.07 tons/cubic km. China was listed as number FOURTEEN (3.78 tons/cubic km)  right behind Japan (4.27 tons/cubic km).

In fact, South Korea was number NINE with 5.68 tons/cubic km. The United States was number THIRTY with 1.14 tons/cubic km.

What does this mean? It means that thirteen countres had worse freshwater pollution than China did.

Maybe Bosshard didn’t know these facts, because he is only interested in what happens in China. I may never know the answer since Bosshard said, “I will not return to this comment nor website” after he dropped his misleading logical fallacy of a bomb in my lap. What he says may be true but how he said it may cause others to blame China for something that is a global problem and not unique to China.

In the rest of this series, there will be posts that focus on soil and water contamination in America, another on Canada, then China, India and last Russia—five of the world’s largest countries measured by land area and/or population.

________________________

This comment was originally posted at Discovering Intellectual Dishonesty – Part 6 on January 31 at 23:34 by an anonymous reader called Bosshard.

Deceit upon deceit?

Dear author, what we find most annoying in the behavior of others are those same behaviors of which we are equally guilty. You appear to dislike: lies, half truths and manipulation.

Regarding water-

You have much to learn.  Boiling water is good for killing bacteria and the like but does nothing to stave off the ill effects of heavy metals like copper, lead and the like. According to the BBC, at least 10% of all Chinese land is contaminated with heavy metals, which are not rendered inert by boiling. Thus, boiling water in China does no good when these elements are present.

When you made your comment, were you engaging in ““willful deception and a refusal to play by the rules?” when you state that boiling Chinese water is an anti-dote?

And an aside, do you personally drink the same water as the folks in Guizhou or Gansu, or do you purchase bottled water, a thing many of them cannot do?

As for your forgone conclusion that the need for water is greater than that of religion, I would disagree. Freedom of religion is paramount to many souls, just ask the Tibetans who will take their own lives in order to achieve such an end. If I were forced to give up my religion for water, I would not do so.

Please do not pretend to know the mind of the masses when yours may not be as open as you may believe.

This site has much information, but the author, like the Jesuits of old appears to have conjured up a China that he wishes us to believe in. The brutal reality of the communist regime  and havoc it brings to its people can best be understood by reading books like Empire of Lies, The Beijing Consensus, Poorly Made in China, The Party, and a host of others.

I will not return to this comment nor website but would like to offer this question:

If you have lived in China, and all of your readers, then you truly know the truth of this place. And if you truly know the truth of this place, then do you think it’s right to knowingly deceive the people about it?

God bless and keep all His children safe and informed.

Continued on February 14 at Contaminated Water and Soil is a Global Problem – Part 2

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”
Sign up for an E-mail Subscription at the top of this page.

About iLook China


Discovering Intellectual Dishonesty – Part 7/10

February 1, 2012

In Part One of this series, I said, “Before this series concludes, you will discover that Sid knew about logical fallacies and may have taken advantage of my ignorance.”

In part four of the debate, Sid said, “In addition to directing the reader toward a particular conclusion, begging-the-question language assumes a premise has already been established.”

According to The Writing Center at The University of North Carolina at Chapel Hill, “Begging the Question is a complicated fallacy; it comes in several forms and can be harder to detect than many of the other fallacies we’ve discussed…”

However, “Sometimes people use the phrase ‘beg the question’ as a sort of general criticism of arguments, to mean that an arguer hasn’t given very good reasons for a conclusion…”

If Sid was aware of the complicated logical fallacy known as ‘begging the question’, we may conclude that he knew what he was doing throughout the entire debate, which may explain why he didn’t answer my question of how many books he had read on logical fallacies and why he avoided answering questions other’s asked.

Then there is this pull quote from a comment of Sid’s I deleted on January 11, 2012 at 12:22. “There is no red herring argument here. A red herring occurs when you divert from the main issue to a side issue. But if a side issue has been introduced (i.e. the boiling of water), you introduced it.”


Critical Thinking’s Dirty Secret – Source: The Critical Thinking Academy

However, Sid was wrong. I was not the one that introduced the Red Herring that changed the topic. Sid did that when he said how contaminated China’s rivers were, which had nothing to do with the topic of that post. The topic of the post was which country was doing a better job supplying water to its people—India, a democracy, or China with its one party republic. The only mistake I made was to swallow the bait of Sid’s Red Herring. After all, the goal of a Red Herring is to divert attention away from a topic that is difficult or impossible to prove wrong.

The Writing Center at UNC says of a Red Herring that “Partway through an argument, the arguer goes off on a tangent, raising a side issue that distracts the audience from what’s really at stake. Often, the arguer never returns to the original issue.”

At 14:17, Sid said, “You can quote or copy-and-paste all the fallacy definitions you wish, but you’ll never be able to employ them in argument or rebuttal. You lack the wherewithal.

However, why would I want to employ logical fallacies in an argument or rebuttal when such tricks are intellectually dishonest?  It would appear that Sid meant I could not match his skills using logical fallacies to decieve people. At least, that seems to be what he implies.

At 19:21, Sid said, “I don’t give a shit what those dictionaries say. It’s not called weasal words. It’s called begging the question language, or begging the question reasoning… You might want to learn what those newfound logical fallacies mean before you copy and paste Lloyd.

In the four previous examples, Sid revealed that he knew exactly what he was doing, and Professor deLaplante, in Part One‘s video, was right when he said, “A fallacy is a bad argument. What makes it bad is certain GENERAL FEATURES that characterize arguments of this TYPE, and arguments of this type can often be MISTAKEN for GOOD argument,” which is what Sid was counting on.

Continued on February 2, 2012 in Discovering Intellectual Dishonesty – Part 8 or return to Part 6

 

Meet the real Sid and learn about him from his own words and the opinions of others

 

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”
Sign up for an E-mail Subscription at the top of this page.

About iLook China


Is China a Republic? – Part 2/4

January 23, 2012

It appears that democracies come in several types. According to Democracy Building.info, there are three basic types of democracy—the Direct Democracy [ex. Switzerland], the Presidential Democracy [ex. USA, France] and the Parliamentary Democracy [ex. UK, Germany, Spain, Italy].

As for checks and balances, the parliamentary system offers few effective checks and balances [remember that China doesn’t offer checks and balances either].

In the UK, the Prime Minister, as head of state, is not elected. He or she is the leader of the majority party and may stay in power as long as his or her party is the majority. One of the main criticisms of many parliamentary systems is that the head of government is in almost all cases not directly elected by the people.

There are two types of parliamentary systems.  One is the unicameral system, which means it only has one single house or parliament. Forty-four countries fit this description. Examples are Denmark, Finland, Greece, Israel, New Zealand, Norway, Portugal, Singapore, Sweden and Turkey.

Then there is the bicameral system [thirty-three countries] of a parliamentary government, which has two houses, an upper and a lower chamber. Examples of this form of democracy are Australia, Austria, Belgium, Canada, the European Union, Germany, India, Ireland, Italy, Japan, South Africa, Spain, Thailand and the United Kingdom.

Let’s see how China’s type of government compares and decide if it is a democracy, republic or a dictatorship.


Democracy From the Bottom Up (The Carter Center)

The Carter Center says, “More than 600,000 villages across China are participating in a national movement toward meaningful democracy—democracy from the bottom up—in a communist nation of 1.3 billion people. For more than a decade, at the invitation of the Chinese government, The Carter Center has aided this effort by helping to standardize election practices among villages and by promoting good governance and citizen participation.”

According to Rural Life in China at Facts and Details.com, “the 2010 census [reported that], 51.3 percent of China’s population lives in rural areas. This is down from 63.9 percent in the 2000 census, which used a different counting system, and over 95 percent in the 1920s. There are around 800 million rural peasants and migrant workers—roughly, 500 million farmers and 300 million to 400 million excess unskilled rural laborers… There are around 1 million villages in China, about one third of the world’s total.  Each village has an average of 916 people.”

That means about 549.6 million rural Chinese vote in democratic village elections every three years.

By contrast, in the 2010 US national election 37.8% (90.6 million) of the voting-age population turned out, and in 2008 only 56.8% (132.6 million) did.  In 2008, the voting age population was 231.2 million and in 2010, it was almost 236 million.  If the majority of people do not vote in an election, does that mean the democracy is broken?

I recommend reading Rural Life in China at Facts and Details.com.  It is well balanced and points out the way it was and the way it is.  Although I did not read every word, I didn’t see any China bashing going on. It was not an indictment of China. However, I am sure a critic [read that enemy] of China could easily cherry pick this article and select a few pull quotes to support more misleading mudslinging at the CCP while ignoring what life was like in rural China before 1949.

Continued on January 24, 2012 in Is China a Republic – Part 3 or return to Part 1

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”
Sign up for an E-mail Subscription at the top of this page.

About iLook China


The Economic Health of BRICS – Part 7/7

January 17, 2012

The CIA Factbook [where I found the data used in this post] says China’s GDP [Purchasing Power Parity or PPP] was more than $10 trillion and its real GDP growth rate was 10.3% in 2010, foreign exchange and gold reserves were about $2.9 trillion and its external debt was $529 billion. The current account balance was a positive $305.4 billion (2010 est.)  Public debt was 16.3% of GDP (2010 est.).

India’s GDP [PPP] was $4 trillion with a growth rate of 10.4%, reserves were $287.1 billion and its external debt was $316.9 billion. The current account balance was a negative – $51.78 billion. Public debt was 50.6%.

Brazil’s GDP [PPP] was about $2.2 trillion with a growth rate of 7.5%, reserves were $288.6 billion and its external debt was $396.2 billion. The current account balance was listed as a negative – $47.36 billion.  Public debt was 54.7%.

Russia’s GDP [PPP] was a bit more than $2.2 trillion with a growth rate of 4%, reserves were $479.4 billion and its external debt was $538.6 billion. The current account balance was a $71.13 billion.  Public debt was 9%.

South Africa’s GDP [PPP] was $524 billion with a growth rate of 2.8%, reserves were $43.84 billion, and its external debt was $109.4 billion. The current account balance was a negative – $9.987 billion.  Public debt was 33.4%.

Summary for the BRICS

The BRICS combined GDP [PPP] for 2010 was $18.9 trillion, overall growth of GDP was 7%, foreign exchange and gold reserves were about $3.99 trillion and its external debt was almost $1.9 trillion so the BRICS had more than twice the reserves than it did external debt. The current account balance was a positive $168.263 billion

The WEST

The Economic Health  [or should I say Illness] of the United States

Meanwhile the United States GDP [PPP] was more than $14.6 trillion with a GDP growth rate of 2.8%, reserves were $132.4 billion and its external debt was $14.71 trillion, which means debt is more than 111 (one-hundred-and-eleven) times that of reserves. The current account balance was a negative – $470.2 billion and public debt was 62.9% of GDP.

The Economic Health [or should I say Illness] of Canada

Canada’s GDP [PPP] for 2010 was $1.33 trillion with a GDP real growth rate of 3.1%, reserves of foreign exchange and gold were $57.15 billion, and its external debt was $1.181 trillion in June 2011. The current account balance was a negative – $48.5 billion (2010 est.) and public debt was 84% of GDP (2010 est.)

The Economic Health [or should I say Illness] of the European Union

Member states of the EU (year of entry) — Austria (1995), Belgium (1952), Bulgaria (2007), Cyprus (2004), Czech Republic (2004), Denmark (1973), Estonia (2004), Finland (1995), France (1952), Germany (1952), Greece (1981), Hungry (2004), Ireland (1973), Italy (1952), Latvia (2004), Lithuania (2004), Luxembourg (1952), Malta (2004), Netherlands (1952), Poland (2004), Portugal (1986), Romania (2007), Slovakia (2004), Slovenia (2004), Spain (1986), Sweden (1995), United Kingdom (1973)

The CIA reported that in 2010, the European Union had a GDP [PPP] of $14.82 trillion with a GDP growth rate of 1.8%, there is no listing for foreign exchange and gold reserves. However, the current account balance was a negative -$11.07 trillion with external debt of $16.08 trillion as of June 2011. Public debt is listed for each member country but not for the European Union.  For example: Germany’s public debt was 83.4% of GDP, the United Kingdom was 76.1% and Greece was 142.7%.  Source: CIA Factbook

Summary for the WEST

The WEST’s GDP [PPP] was $30.75 trillion, the average GDP growth rate was 2.56%, external debt was $31.971 trillion and the current account balance was a negative – $11.525 trillion.

As of 2011, the five countries that make up the BRICS were among the fastest growing emerging markets.

Return to The Economic Health of BRICS – Part 6 or Start with Part 1

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”
Sign up for an E-mail Subscription at the top of this page.

About iLook China


The Economic Health of BRICS – Part 6/7

January 16, 2012

When you read something disparaging or criticizing another individual or a country such as China or one of its BRICS partners, you may see something like the question Troy Parfitt recently asked in a comment on this blog: What about China’s debt problem?” The immediate thought after reading Parfitt’s entire comment might be that China has a debt problem that will slow or stop its economic progress leading to a crises.

In fact, few readers dropping by for the average thirty seconds to read a blog post will take the time to find out the facts to see if the claims of critics are as bad as they sound.

The result is that individuals motivated by cultural biases that resort to using confirmation bias in what they write will often leave behind a negative image of the subject they have criticized.

A cultural bias is the phenomenon of interpreting and judging phenomena by standards inherent to one’s own culture, and confirmation bias is a method used to support this.

Confirmation bias (also called confirmatory bias, my side bias or verification bias) is a tendency for people to favor information that confirms their preconceptions or hypotheses regardless of whether the information is true. As a result, people gather evidence and recall information from memory selectively, and interpret it in a biased way.

Another example of country’s economic health may be found in the spending and saving habits of its households. Canada’s household savings rate in 2008 was 3.8%, the United States was  2.7%, the EU total was 5.8%, the Russian Federation was 12.6% in 2005, Germany’s household saving rate was 11.2%, Greece was a minus -7.3% in 2006, and the United Kingdom was a minus – 4.5%.  Source: Global Finance magazine

For a comparison between China and the WEST, I discovered a paper from the Congressional Budget Office, Washington D.C. titled, “Why Is China’s Saving Rate so High? A Comparative Study of Cross-Country Panel (November 2010)

On page 45, Table 1, the GDP per Capita and National Saving Rate (annual average) for China was 54.4% up from 35.6% in 1980-1990.  Wow! More than fifty-four percent saved (annual average) out of what a family earns!

On page 43, Figure 6, there was a chart comparing the saving rates of China with the United States.  In 1980, the US saving rate was about 12.4% but by 2008, it was down to almost 5%.  By comparison, China’s household saving rate was closer to 15% in 1980 and climbed from there to about 30% by 2008. After the 2008 global financial crises rolled across the globe from New York, the household saving rate in China jumped allmost 20%.  Talk about saving for a rainy day!

If a financial crises is coming to China, that household saving rate tells us that the average Chinese family is getting ready to survive it.

Before ending this series, there are more economic facts and comparisons to consider in The Economic Health of BRICS – Part 7 on January 17, 2012, or Return to Part 5

______________

Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

Subscribe to “iLook China”
Sign up for an E-mail Subscription at the top of this page.

About iLook China