China Insists on Protecting Currency
Daniel J. Lavigne
>China's dependence on rapid economic growth to maintain political
and social stability, coupled with a fragile banking system laboring
under an extremely heavy burden of nonperforming loans, means that
any change should be gradual<
We could subtitle this as/
"World's oldest culture and civilization now trapped in a Wal Mart caddy"
for China's leaders there is No Alternative to pushing the gas pedal
straight to the floor and holding it there.
Future Chinese, and Chinese survivors from the frenetic growth interval
will not be impressed by this deliberate blindness and weakness. If China's
leaders were not sheeplike followers of US-style, European-style and
Japanese-style economic growth they would have already made it clear to
their people they have to choose sustainable development, one day soon.
If they dont, China will necessarily have to fight the US, India, Europe
and Japan for the world's remaining oil and gas within at most 15 years,
instead of only competing with these oil and gas importers through
economic, financial and monetary systems.
Since the 5 Elements or Vectors are something any Chinese should know
about, the current leadership could try what Mark Jones called the 5
Great Evils in his article 'Battle of the Titans' for my Pluto Press
book 'The Final Energy Crisis' (publishing date unknown)
>>
Looking further ahead, ie to the next 20 years or so, can Chinese hegemony
consolidate itself? I think this would bring us back to consideration of
what I playfully call, à la chinoise, the Five Great Evils: anthropogenic
climate change, mass extinction of species, destruction of the biosphere,
resource depletion, and exhaustion of cheap energy supplies. But the Five
Great Evils have no meaning by themselves, not historically-speaking
anyway. At the moment, mass societies around the world converge in a race
to outwit, outpace or simply ignore, a short while longer, the gathering
storm. The coming, open rivalry between the US and China is the type of
event - sharpened by a sudden, unresolvable and acute general crisis - that
will reveal the complete powerlessness of conventional power élites, their
'technostrucuture', and the sociocultural paraphenalia that goes along with
mass urban-industrial society
<<
A McKillop
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