Understanding China, One Blog at a Time

An American in China

Archive for May 15th, 2012

Impact of China Owning our Debt

Posted by w_thames_the_d on May 15, 2012


I found an interesting website here. The snippet below comes from this site and explains why it is bad to have China purchasing our debt. The general theme is that in doing so, China continues to undervalue its currency and cause our products to be more expensive.

Excerpt
“No, the real problem with the CCP buying so much of our debt is that theycan’t stop, meaning the traditional incentives to get serious about deficit reduction (the fear creditors will stop lending) doesn’t apply. Instead of firm warnings from Wall Street or the City (London), we have a regime desperate tokeep lending us money in order to maintain their cheap currency and export sectors.
Thus, our day if reckoning will be delayed, but hurt that much harder when it finally comes.”
Continue here
http://chinaelobby.wordpress.com/2012/05/15/the-real-reason-the-ccp-owning-so-much-us-debt-is-a-bad-thing/

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I See London, I See France, Wanna See Chinawoman’s Underpants?

Posted by w_thames_the_d on May 15, 2012


“Classy”, with Chinese characteristics

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China’s Murder Makeup- Face Whitener Has 6x Too Much Mercury

Posted by w_thames_the_d on May 15, 2012


Here is a translation of part of the article below. In essence, the claim is that some Chinese skin bleaching cream has too much mercury and can cuase skin necrosis or death.
Excerpt

“The play the role of beauty and cosmetics of this in recent years,frequent cosmetics heavy metals exceeded the news, even namedmany international big names. CCTV “Weekly Quality Report”yesterday, exposure of skin lightening cosmetics mercury content exceeded six times, leading users of mercury poisoning, and evensuffering from nephrotic syndrome.
story”
http://dzh.mop.com/t/SF7Sz5I29a0289F3

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Coming Crash of China

Posted by w_thames_the_d on May 15, 2012


Here is a comment from the asking of Brews. Brewskie is a china watcher who knows his stuff. He’s got a sense of what is relevant and useful.
Otrauma and his crew should take a listen, but I guess they have more important things to do….

From the King of Brews!

“The next batch of everyone’s favorite seasonal “Brew” is nearly ready for shipment (Wednesday)… in the meantime I’ll share this comment I found from a soul living in China:

“I live in China now and have lived here since 1986. What is happening is a constant forestalling of an inevitable and slow crash. The government is trying to use credit to spur growth until the magic consumer suddenly starts shopping and takes over economic growth. Like the US, most of the “growth” since 2007 has been credit driven. Banks were forced to make massive loans in 2008, and are now struggling to deal with rising non-performance and huge quotas to make new loans- but they cannot find customers with suitable risk. The property market is at prices we should have seen no sooner 2030, not 20011. Japan property crashed at 8-9 times income, and china is over 20. The infrastructure projects that have propped up the economy are failing. Commercial rents at the same time are soaring causing inflation or business closures. Worst of all- high property costs and very high inflation (3-4% is misleading) is creating a country of savers. They are spending less of their discretionary income and saving it for housing, children’s education and an expensive future. They continue to flood the economy with credit while waiting for something that is not going to happen. The inevitable long-term slowdown will happen when the government finally takes its foot off the accelerator- they have been watching the consumer and waiting for the domestic economy to pick up before doing so. It won’t happen. When government stimulus finally runs out of steam, the result will not be a recession. What you can expect is a long and slow and bumpy economic malaise lasting at least a decade.”

As I said: Japan on steroids.

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Starbucks, Chinese Stupidity and Hot Food

Posted by w_thames_the_d on May 15, 2012


I went to Starbucks for a bite even though I live in China, a country with some of the best food on the planet. I guess that is just how I roll..

Anyway, as I was standing there thinking about how to get fatter, ie decide what to eat, and some Chinese guy saddles up to the counter with his one child disappointment in tow. Of course he had to utter some pig like grunts that approximated English my way, just to show he was not a total dud.

The guy then shook the little disappointment’s hand at me and waved it vigorously. Funny how much the Chinese resent us, but love to point their kids our way in the hopes of a free twenty second English lesson, but I digress.

So I am standing there and now this guy has made my daily shit list, which has grown exponentially as of late. I hurry and place my order in the hopes he will do something useful like plunge from the roof of a tall structure or merely go away.

As my order is being prepared, said moron asks the Starbucks professional (in Chinese of course), he says, “What food here can I get served hot”

WTF?

An audible sigh lept from my lips and I shook my head. WTF ? Is he kidding?

What food can I get served hot? Hey Jed Clampet, aside from munching on a steamy loaf of my dung, you can get any sandwich served hot.

I mean come on China, its the 21st century. Cool things like electricity and this marvelous thing called the internet have been created. Along with that are these spooky devices that actually can heat an object, any object in a matter of seconds. And yes all of that high fat stuff that is displayed under your crooked head can be eaten hot. I mean after all, Jed fuking Clampet, they only serve sandwiches at Sbucks!

I would have pitied the guy, but its not in my nature. Here we are smack dab in the ‘second coming’ of China, the worlds supposed innovation center and I’m stuck next to Fred Flintsone, some guy who peddles his rock car to and from a life of ignorance and fear.

It would be nice to say there is a moral to this story, but sadly there is not. All I can do is shake my head and once again thank the gods of fate that I was born ABC- anywhere but China.

ps. King, we miss your rants!!!!!!!!!!!

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