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China is practicing the economic equivalent of embrace (buy Western technology), extend (their own 3G standards for instance), and eventually extinguish (lockin

China is practicing the economic equivalent of embrace (buy Western technology), extend (their own 3G standards for instance), and eventually extinguish (locking the West out of their market). As private individuals, we don't mind being bought out by Chinese. As members of societies, I believe it is important to know that there is a concerted plan by China that is at best neutral, and at worst, hostile to Western economic interests. Individual gain at the long term loss of the society we form part is not really in anybody's interest. We should still trade with China, obviously, and even sell companies, but the terms of trade should not be one-sided: Western companies should get the same market access as Chinese companies do.

tajen 10y ago
Let's not forget the China has acquired this position by providing the world with goods for 30 years, for a price that meant misery for their workers. It's not entierly undeserved that they are now able to execute whatever grand evil plan they imagined. We're free to prevent them from accessing our markets, as long as we reimport manufacturing into free-market countries, which would mean paying a bit more than $7 for a toy, clothes and electronics, or accepting a minimum wage under $10/day for our Western workers. Serious question. is our independence worth the effort?
- noir-york 10y ago
  > or a price that meant misery for their workers. Misery is relative. What is misery to us, was a god send to Chinese peasants who flocked in their millions to work in factories that promised at least some security as opposed to the utter misery of toiling in the fields. Those exports to the West helped lifted hundreds of millions of Chinese out of poverty.
- LunaSea 10y ago
  I think you also forgot to add industrial espionage to this list as a compensation for low innovation levels.
- ryuker16 10y ago
  Chinese factories aren't that bad....whence I started talking about the labor standards in nearby Indian factories he was shocked.
krona 10y ago
Total corporate debt in China currently sits at $18 trillion; more than 160% of GDP. That simple fact undermines the argument; there is no conspiracy here about trying to dominate external markets through acquisition; it's just basic economics playing out on a scale (and velocity) we've never seen before. China is full of zombie construction companies that are worthless investments; Large businesses in China are trying to diversify as fast as possible (often to a laughable extent) and this is mostly fueled by debt. All this will come to a head in 2017-18.

tajen 10y ago

Let's not forget the China has acquired this position by providing the world with goods for 30 years, for a price that meant misery for their workers. It's not entierly undeserved that they are now able to execute whatever grand evil plan they imagined. We're free to prevent them from accessing our markets, as long as we reimport manufacturing into free-market countries, which would mean paying a bit more than $7 for a toy, clothes and electronics, or accepting a minimum wage under $10/day for our Western workers. Serious question. is our independence worth the effort?

noir-york 10y ago
> or a price that meant misery for their workers. Misery is relative. What is misery to us, was a god send to Chinese peasants who flocked in their millions to work in factories that promised at least some security as opposed to the utter misery of toiling in the fields. Those exports to the West helped lifted hundreds of millions of Chinese out of poverty.
LunaSea 10y ago
I think you also forgot to add industrial espionage to this list as a compensation for low innovation levels.
ryuker16 10y ago
Chinese factories aren't that bad....whence I started talking about the labor standards in nearby Indian factories he was shocked.

krona 10y ago

Total corporate debt in China currently sits at $18 trillion; more than 160% of GDP. That simple fact undermines the argument; there is no conspiracy here about trying to dominate external markets through acquisition; it's just basic economics playing out on a scale (and velocity) we've never seen before. China is full of zombie construction companies that are worthless investments; Large businesses in China are trying to diversify as fast as possible (often to a laughable extent) and this is mostly fueled by debt. All this will come to a head in 2017-18.