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New order moves us closer to China’s economic model
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David Ignatius
HeraldNet
October 17, 2008
WASHINGTON — We are all Chinese now. That is, we have a nominally capitalist economy, but we don’t trust the freewheeling private market when it comes to the crunch. So we turn to the government for protection and stability.
- A d v e r t i s e m e n t
The new interventionism isn’t so much socialist as it is Confucian — a belief that a public-private partnership of the wise ones will get us out of the mess. And if it’s any consolation, the Chinese are becoming more like us, even as we are becoming more like them.
A Chinese preview of this week’s government-funded recapitalization of the banks came in the Hong Kong stock market crash of August 1998. To counter a typhoon of speculation that had battered the local market, Chinese authorities intervened to buy up sagging stocks with public money. The government spent $15.1 billion to acquire about 7.3 percent of the companies in the blue-chip Hang Seng Index.
Back in 1988, free-market partisans in the West were shocked by the Chinese intervention, and decried it as a dangerous precedent. But it helped stabilize the Hong Kong market. Now, that earlier bailout seems modest indeed — compared to the quasi-nationalization of the world’s leading banks we’re seeing this week.
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October 17th, 2008 at 10:21 am
Who cares… all this is getting old… nothing is going to happen.
No new world order… nothing…
All of this is just bullshit.
Let’s just accept the truth of it all… we’ve been played into thinking that something major was coming this month… and nothing happened.
The bailout, whatever, everyone will just keep doing what they do best… watch entertainment and sports… who cares.
Not you, right?
Bunch of bullshit…
October 17th, 2008 at 10:41 am
My comedian friend always says FAT asians will be the cause of armageddon because there are so many of them… once they start living like Americans we’re screwed on the global warming front. http://www.youtube.com/watch?v=vPS7ksrKk8Y
October 17th, 2008 at 10:42 am
Thank you President Nixon…your ping-pong diplomacy cost us everything!
October 17th, 2008 at 12:27 pm
Alex – please do not sing to the songs. Thank you!
October 17th, 2008 at 12:59 pm
Yes the new world antichrist order has always been in love with the Chinese form of communism!! They love the type of power that the evil and satanic Chinese wield over their citizens!! And this is definately where we are headed!! But don’t worry; we will see them all being before the Great White Throne of the Almighty crying and weeping and begging the Great God of Heaven for mercy!! But they had their chance at God being merciful to all of them because He has spoken by His Spirit to all of them and they have rejected both His Spirit and His Son Jesus and His Holy Bible which is His Written Word!! And now they will be rejected and will be frying and crying and agonizing in the most horriblest of all punishments which is inconceivable to the human mind!!
October 17th, 2008 at 1:32 pm
@ Azazel – OH? Something happened alright! You still haven’t grasped the severity of it all.
Or the Implications of what Wall Street & the FED, are doing.
October 17th, 2008 at 4:34 pm
Azazel, are you blind to what’s happening?
October 17th, 2008 at 5:45 pm
to all of you readers: The Bible says at Daniel 2:44 that God’s kingdom will destroy all the governments on this earth and His Kingdom will rule for forever. Don’t you think that this is the solution to all of mankinds problems, God’s Kingdom?
October 17th, 2008 at 9:49 pm
When this whole powder keg blows there’s a good chance it starts in China. They are already seeing dramatic slow downs in their economy and the workers at those factories are in the short term more dependent on their employer than we are. They are only a day away from starvation at any one time, they live in corporate dormitories, eat company meals, etc. When their job ends their house is gone their meals are gone, the chinese govt is going to have to step in and step on them to quell the coming unrest. We here in the states on the other hand will take a lot longer to rebel in the streets, but that will come also.
October 18th, 2008 at 2:45 pm
The time has come to have that relationship with the Lord, never know if you will be around in the next twn seconds……
October 18th, 2008 at 7:36 pm
Doc, you and the other religious nuts need to keep your religion to yourselves. I know this is a shocking idea for you, but there isn’t any such thing as one “correct” religion, so don’t go around telling people they need a relationship with “the Lord.”
October 18th, 2008 at 8:46 pm
Nash, why are so agressive in front of believers? How many read differents prophecy of others religions and how many others believe in other religions? If we want to express our faith and the word of God, who are you to try to silence us? Are you a part of this big game to try to silence the population like the others one? The freedom of speach is a part of our Constitution. Our brothers and sisters are now killed by thousands all around the world because of their faith. In their names, we will open our mouth and protect the words of God because this war is against Him, against His peoples who believe in Him, against all the rights He give us., it’s also again the life, and against the Truth, the Justice and Freedoms.
God had speak by many peoples. Listen and repent. No one will be able to stop the love of God and his judgement. Repent all of you, this is the last hour. God’s coming in war with His enemy and his corrupt system. Anyone who decide to walk in this corrupt system will receive the same sentence of eternel Hell.
If we are, where we are now, it’s because man put his trust in man and and forgot Yahwe. He’s believing all the bulshit of the corrupt media but ignore the word of the Lord. See the consequences of all that. Men without the spirit of God walk without God and may be spiritualy manipulate. God’s protect only the one who’s walking with Him because they recognize His voice.
October 19th, 2008 at 10:50 am
didnt china halt that 1 child law because of the earthquake ?
October 19th, 2008 at 11:34 am
sorry to double post but i really need to know if china abolished the 1 child law. all i can find on google is suggestions to abolish it but i see a 2006-2010 plan thats active.
October 19th, 2008 at 2:26 pm
China does have a 1 child policy.
October 20th, 2008 at 6:34 am
Nice shot Maria. Although the below is not in line with the article above, a comment I must make:
I too find it interesting how ‘progressive’ ideology (homosexuality, atheism, etc) is openly embraced through tolerance enforcement, yet religious expression is somehow supposed to be a ‘personal’ aspect of life to be kept ’silent’.
Peoples like Doc tend to have such knee-jerk-groupthink-reaction to religious expression due to their conditioning by social-scientists. I wonder if he posts these types of responses to others whom make comments perhaps deemed offensive to others not yet entranced by the politically correct mantras of today…
Honestly, it is far nicer to hear someone refer to comfort in the Lord than hate filled zealots suggesting a swath of the population as fanatic for expressing peaceful remarks.
May we pray to God that people like Doc do not hold legislative positions to drive people in to silence…oh wait, the govt does already…
oh well…
October 20th, 2008 at 10:26 pm
Holocaust scholars have identified three key stages in the Nazis’ successful genocide:
1. Separation – identifying and marking victims, placing them outside legal protection
2. Concentration – placing victims together for easier extermination
3. Extermination – the final stage is to be kept secret until the last possible moment to ensure victims’ compliance
Believe it never happened if you like, at your own peril, but it was very effective.
October 21st, 2008 at 9:59 am
The “One child policy” gradually watered down from the Mao-suit era, and is mostly only for the bigtime cities now, in which less than a quarter of Chinese live. Okay? You can do the math, in regards to how many MORE people there actually are in China than the *politically correct* “1.3 billion” parroted from officialdom. I’ve asked students about their brothers and sisters for years, and- apart from Beijing and a few places like that- its *no different* than in the US or UK. Its quite clear that Italians and other continental Europeans are miles closer to the “one child” goal. Seriously, take a bike ride out in the countryside someday. Go to any school more than a proverbial arm’s length from Beijing and just ask a simple question or two.
$64 question is why the rest of the world goes along with the fictitious official statistics? But then again, the rest of the world goes along (at least implicitly) with the US officialdom’s Arab cavemen-no witnesses of Pentagon plane- and the WTC-7 sympathy fall, too. The next time you hear the old 1.3 bn., try thinking 3.1 bn instead and you’ll be closer to the reality.