One of my clients sent me the following –
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Chinese energy – Investment growth in coal mining was up 77% in the first nine months of 2005 relative to the comparable period of 2004, and investment in domestic oil and gas extraction is up 31% over the same timeframe. … Not by coincidence, investment in rail transport – the major distribution channel for a coal-intensive economy – is up 41% over the first nine months of this year.
Yup, and some of the bigger companies even sell shares to foreign investors, including us. Just an example of one more country that went from the technology of the 1920s to the 1950s and is poised to hop over us into the technology of the future, like so many other nations.
Does that 41% include China’s interest in the U.S. double-stack rail system, which seems to bend over backwards to get those cheap Chinese imports to our store shelves? Or is that 41% just in China alone?
No, it means Chinese domestic railways, like the Guangzhow - Shanghai.
If the Chinese are getting “bend-over-backward” treatment, it’s because money talks. I for one am sorry the past several governments have gone out of their way to introduce a repressive Communist system to crony capitalism, but the Chinese do pay their own way. Hell, most of the U.S. bonds held by the Japanese are merely held in trust for the Chinese.
…All the “help” we’ve spread around the world in the past decades is now coming home to bite us…and worse yet, it will sink us if we don’t find a way to reverse the trend or at least level the playing field without going to 3rd world wages hence living standards, etc. in this country. What are we facing…The scenario looks a bit bleak…