02.29.08
U.S. in the red and getting redder
china is one the fastest growing nation there is no doubt it ,China’s potential capacity to upset the international applecart already exercises financial analysts and other crystal-ball gazers.china is on a verge to become the next superpower responds to the dangers of inflation.China raised interest rates six times last year.china may be experiencing economic jitters, but it is still “running giant surpluses” and, as a crop of new books confirms, is “on the brink of becoming the world’s leading trading nation.American Sinophobes are fond of saying that the strength of the Chinese economy is derived from that government’s exploitation of its people.The fact is the current crop of Chinese commissars is weak; power is no longer concentrated in Beijing.The Chinese financial system is duly being liberalized – banking is diversifying and stock markets are developing. Protections for private property rights are being strengthened as well.but there is still time to china to cope up with America as Indeed China is changing. It is “out of the red” in more ways than one. The U.S. is changing too: It’s in the red and getting redder.