Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Canadian Cannabis Stocks CRASH as Canopy Growth Hits a Dead End - 14th Dec 19
Retail Sector Isn’t Dead, and These 6% Dividend Paying Stocks Prove It - 14th Dec 19
Top 5 Ways to Add Value to Your Home - 14th Dec 19
Beware Gold Stocks Downside - 13th Dec 19
Fed Says No Interest Rate Hikes In 2020. What About Gold? - 13th Dec 19
The ABC’s of Fiat Money - 13th Dec 19
Why Jo Swinson and the Lib Dems LOST Seats General Election 2019 - Sheffiled Hallam Result - 13th Dec 19
UK General Election 2019 BBC Exit Poll Forecast Accuracy Analysis - 12th Dec 19
Technical Analysis Update: Tadawul All Share Index (TASI) - Saudi Arabia ETF (KSA) - 12th Dec 19
Silver Miners Pinpoint the Precious Metals’ Outlook - 12th Dec 19
How Google Has Become the Worlds Biggest Travel Company - 12th Dec 19
UK Election Seats Forecasts - Tories 326, Labour 241, SNP 40, Lib Dems 17 - 12th Dec 19
UK General Election 2019 Final Seats Per Party Forecast - 12th Dec 19
What UK CPI, RPI INFLATION Forecasts for General Election Result 2019 - 11th Dec 19
Gold ETF Holdings Surge… But Do They Actually Hold Gold? - 11th Dec 19
Gold, Silver Reversals, Lower Prices and Our Precious Profits - 11th Dec 19
Opinion Pollsters, YouGov MRP General Election 2019 Result Seats Forecast - 11th Dec 19
UK General Election Tory and Labour Marginal Seats Analysis, Implied Forecast 2019 - 11th Dec 19
UK General Election 2019 - Tory Seats Forecast Based on GDP Growth - 11th Dec 19
YouGov's MRP Poll Final Tory Seats Forecast Revised Down From 359 to 338, Possibly Lower? - 10th Dec 19
What UK Economy (Average Earnings) Predicts for General Election Results 2019 - 10th Dec 19
Labour vs Tory Manifesto's UK General Election Parliamentary Seats Forecast 2019 - 10th Dec 19
Lumber is about to rally and how to play it with this ETF - 10th Dec 19
Social Mood and Leaders Impact on General Election Forecast 2019 - 9th Dec 19
Long-term Potential for Gold Remains Strong! - 9th Dec 19
Stock and Financial Markets Review - 9th Dec 19
Labour / Tory Manifesto's Impact on UK General Election Seats Forecast 2019 - 9th Dec 19
Tory Seats Forecast 2019 General Election Based on UK House Prices Momentum Analysis - 9th Dec 19
Top Tory Marginal Seats at Risk of Loss to Labour and Lib Dems - Election 2019 - 9th Dec 19
UK House Prices Momentum Tory Seats Forecast General Election 2019 - 8th Dec 19
Why Labour is Set to Lose Sheffield Seats at General Election 2019 - 8th Dec 19
Gold and Silver Opportunity Here Is As Good As It Gets - 8th Dec 19
High Yield Bond and Transports Signal Gold Buy Signal - 8th Dec 19
Gold & Silver Stocks Belie CoT Caution - 8th Dec 19
Will Labour Government Spending Bankrupt Britain? UK Debt and Deficits - 7th Dec 19
Lib Dem Fake Tory Election Leaflets - Sheffield Hallam General Election 2019 - 7th Dec 19
You Should Be Buying Gold Stocks Now - 6th Dec 19
The End of Apple Has Begun - 6th Dec 19
How Much Crude Oil Do You Unknowingly Eat? - 6th Dec 19
Labour vs Tory Manifesto Voter Bribes Impact on UK General Election Forecast - 6th Dec 19
Gold Price Forecast – Has the Recovery Finished? - 6th Dec 19
Precious Metals Ratio Charts - 6th Dec 19
Climate Emergency vs Labour Tree Felling Councils Reality - Sheffield General Election 2019 - 6th Dec 19
What Fake UK Unemployment Statistics Predict for General Election Result 2019 - 6th Dec 19

Market Oracle FREE Newsletter

UK General Election Forecast 2019

Capitalism and China, Amazing Chaos

Economics / China Economy Nov 10, 2011 - 06:04 AM GMT

By: LewRockwell

Economics

Best Financial Markets Analysis ArticleSkip Cook writes: It is seven-thirty on a Sunday night. I have just completed the last leg of my trip home from Guilin, China. As I travel across the Arkansas River bridge from the Little Rock airport, headed for the bedroom community of Maumelle, where I live, I notice something conspicuously absent from my drive: Horns; nobody is honking! In China, both in Shanghai and in the smaller city of Guilin, every vehicle has a horn. Every driver is damn proud of their possession and uses it liberally. In fact, I am convinced it is likely the first mechanical device on their vehicle which will wear out.


The streets of any highly populated Chinese city are but a microcosm of the culture which lurks beneath. They are totally chaotic. Though I have lived in Houston and Kansas City and traveled to New York repeatedly in an earlier life, my town is incredibly slow paced. It took me a few days in China to recognize the chaos of the traffic for the real beauty it represents.

Almost every intersection has left turn signals, red lights and, "Walk-Don’t Walk" lights for the benefit of someone. However, the Chinese people treat those traffic control devices as mere suggestions. At the outset, the noise, confusion and what could surely qualify as a system which promised certain death to a pedestrian or a scooter driver drove me crazy. I found myself thinking like an American, "How in the world do these people function with so little adherence to the laws and so little oversight by the local authorities?"

But, after being forced to live in that day to day reality, I began to appreciate the larger lesson: The street functions--despite Its shortcomings. People, get to and from work and provide a living wage for their families – honking incessantly at every turn. Government is present, but because of the sheer numbers of citizens it would be forced to control, the authorities are in deep background at best. I seldom ever saw a police officer and when I did, they were occupying some ceremonial location in an intersection and appeared little interested in offering assistance to anyone.

Traveling to China is the first international adventure I have made in my sixty-five years. I have been to the Bahamas and Mexico, but those trips were the farthest cast I have made from my home in the South, where I have lived for three decades. Not because of stellar planning, but just due to dumb luck, I saw China from the inside out – at least for three weeks.

I was hosted by a middle class woman named Han Yu. She lives in Guilin which is located in the south central part of China. Guilin is a metropolitan area of five million people and is somewhat touristy with a climate like Miami. It is not plagued with the poor air quality found in Shanghai or Beijing. Yu has a pre-teen daughter who attends a private school. My host’s friends share the same lifestyle and reside in her same economic strata.

Looking back on my visit, I consider the time I spent with her and her friends as a total luxury. I missed the Great Wall and Tiananmen Square, but I was fortunate to see Chinese life from the ground up.

The single biggest driving force in China: Own your own business. The best I can tell, after having been an entrepreneur for thirty-five years and observing the business climate there, China has the most aggressive small business incubator in the world. Maybe someday the Chinese government will try to control the millions of small businesses they have fostered by their ambivalence; but, like the streets of Guilin, I doubt they will have the power to do so.

I attended the grand opening of a new restaurant, largely the dream of Han Yu’s best female friend, Zeng Cheng. Zeng Cheng already is a major player in a Guilian tea company which packages and sells tea throughout south central China. The Guilin city/county government is openly enthusiastic about new enterprise. Their motto seems to be, "Stay out of the way". For $50 US, and three days of process time, a new entrepreneur is set on "Go" to risk everything he or she has to succeed. The government’s approach: Come, join our community, risk what you wish and enjoy the benefits of an unfettered business adventure.

In China, to mimic the redneck comedian Larry the Cable Guy, the motto seems to be, "Get ‘er done". Whatever it takes to make life happen, they can accomplish it.

There is no better example than their transportation schemes. I was a passenger in every kind of vehicle you can imagine. From a three wheel motorcycle powered two person cart, appropriately called a "Bomb Bomb", which is programmed to search out and experience every rut and pothole in the China streets.

At the top of my list: The Bullet – a mass transit train that cruises along quietly and effortlessly at 200 mph and has beautiful classy Chinese concierges traveling through the cabins offering refreshments.

In a recent article on LRC, titled, The New Steel Silk Road, Rick Mills reviews how China is choreographing the future of trade with India, Russia, the Balkans, Europe and Africa using the concept of high speed rail to speed cargo back and forth along the Silk trading routes in use for thousands of years. As I read the article, it occurred to me, the Chinese follow the advice of our Founders in a way we in the US haven’t done for the last one-hundred years: They are busy learning to trade with people, talk to people and travel to countries to make friendships and economic joint ventures, rather than deliver their dogma at the end of a Cruise missile.

Han Yu’s daughter, Ran (pronounced like it is spelled) studies math, science, art and English in private school. It takes a major chunk of Yu’s income, about 2500 Yuan RMB each month – $400 US. I met several parents of her classmates who were quite eager for their children to learn English. The overarching desire of the Chinese is to come to the US for economic opportunity. Though I never said so, my trip was teaching me that American mothers should be obsessed with their school aged children learning Chinese, so they can travel to the future economic Mecca of the world and enjoy the impending prosperity of China.

As a final sad commentary: When I landed in Shanghai from San Francisco, I had to clear Chinese Customs. The form required: Three lines; the customs inspector asked just a minute of my time at his window. In contrast, while clearing customs in San Francisco on my return: Fifty minutes, a two page form and paraded through a chute like a cow at a livestock sale. Welcome back to the land of the free and the home of the brave.

Skip Cook [send him mail] is a general manager of a construction company in Maumelle, Arkansas. He is active in citizen driven efforts to change the ways of government in his state.

http://www.lewrockwell.com

    © 2011 Copyright Skip Cook - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules