Desperately, some Western politicians and scholars expected China’s assistance, in particular her foreign exchange reserves to resolve the world's recession. Last year, a think tank in Washington D.C. even conducted a forum to discuss how China could help the world.
At that time, I challenged the participants: First, China has not performed as well as the data indicates and thus would not have the capability to save the world economic crisis; Second, China would not do it even if she had the ability. The audience was mostly skeptical at the time. However, I believe most of them are now convinced.
It is naive to believe China would help the West. Of course, it is largely due to the West having
fallen for China’s propaganda. The recent visit of Chinese Premier Wen Jiabao to Europe has promoted the propaganda to the peak. Wen exclaimed that his visit will bring “confidence, courage, and hope” to the world. In fact, what accompanied Wen to Europe was not the foreign exchange, but the promises of a purchasing agent. This has pleased many prime ministers in Europe and left them with many dreams. I am sure when they see the purchase list, they will finally realize that China will not spend anything extra other than the items China cannot produce.
Many people are intrigued these days by a popular Chinese verse on-line:
In 1949, the regime drove Capitalists out of China and used socialism to save China;
In 1978, the regime drove socialists out of China and brought in capitalism to save China;
In 1989, Chinese Capitalists saved the world's Socialists;
In 2009, Chinese Socialists will save the world's capitalists.
Many believe that this verse reflects the Chinese regime's arrogance. I actually think it’s a humorous ridicule; there is only one fact in all the sarcasm. That is, capitalism saved China in 1978.
Since 1978, China’s economic growth has benefited from her changing course by abandoning the ridiculous economic policies of the past and adopting capitalism. World capitalism has provided China the advantage of a vast export market. More than 90 per cent of the Chinese export market is composed of sophisticated capital entities such as the United States, Europe, Japan and the Four Little Dragons of Asia. Almost all of the imported technology and foreign investment comes from these countries. It is the foreign investment and exports that have provided China with more than 120 million jobs and security during the unemployment pressure and social unrest of the 70s and 80s.
True, all of China's trading partners benefited from the economic globalization. However, these trading partners could have easily found a replacement for China from elsewhere in the world. In contrast, China has imported mainly natural resources and high-tech products, other than semi-finished products required for export. These are the items that China has to import from these developed and resource-rich countries. Basically, there is no alternative. Objectively speaking, world capitalism would have survived well without China. However, without world capitalism, China would have continued her struggle in the midst of chaos.
In fact, China has not escaped the threat of chaos, despite all the benefits it obtained through economic exchange with global capitalism. China has the highest income inequality between rich and poor; China has the largest unemployed population and unemployment rate; China’s environment has been damaged to the extreme; most importantly, the Chinese government has not learned how to resolve political differences in a civilized manner, and continues relying on a high cost low efficiency brutal suppression. In all aspects, China is on the verge of collapse. How could a government of such vulnerability have “confidence, courage, and hope” to save the world?
The Chinese have a saying to describe a fool: The fool still counts the money for others after he’s been sold by the others. I’d like to remind Western politicians and scholars of this saying and to be watchful. The regime also has a saying to describe its shamelessness: the upper lip is attached to the sky, the lower lip is attached to the ground, and no where can anyone find the face. I hope Chinese politicians will stop playing shamelessly on the world's stage.
