Cartoon from China Daily

It’s interesting that the Chinese might see the US as bossing them around, but I guess it makes sense, since we’re taking their money and then spreading it around, and then asking them for/demanding more money.

China Daily cartoon: Link

BEIJING, CHINA: In a speech to the Standing Committee, Chairman Wu Bangguo called on Chinese legislators to remember the “essential differences” between the Chinese system and the Western systems. He called it “maintaining the correct orientation” and described the most fundamental differences as:

“…organically integrate the leadership of the Party, the position of the people as the masters of the country and the rule of law,” Wu noted, adding “the core” is to uphold the leadership of the Party.

And later added:

“China’s system of political parties is a system of multiparty cooperation and political consultation under the leadership of the Communist Party of China (CPC), not a Western-style multiparty system,”

Wu stressed many times that Chinese elected officials are supposed to broadly represent their constituents, and not a party.

I am curious if any of this is in response to international reports of the bickering between Democrats and Republicans that has gone on since Obama took office. Wu’s warming also sounds eerily familiar to George Washington’s feelings about political parties at the end of his tenure as President.

China Daily article: Differences stressed between China’s NPC and western systems

I just liked the name, ” Union of Nationalities”. We always send our top orchestras and ballet companies overseas, and get their highest brow culture in return. God forbid we send Kanye to Korea and get Rain back.

CHINA: In an op/ed in the China Daily today Shen Dingli refuted the claim that China’s high savings rate led to the cause of the U.S. real estate bubble bursting. These claims were made by none other than Ben Bernake.

China has no social security system yet, similar programs are being “mapped out” right now, and it may be years before they do. As a result, Chinese citizens save a larger percentage of their money than American citizens. For a country who’s average per capita GDP is about 5% of the U.S., being able to save at all is impressive. Also accuses American businessmen for trying to pass the buck for overspending.

It is interesting to read a Chinese writer talking positively about the transformation into a consumer culture. But mathematically, China still has a long way to go. Their GDP as a whole is about 1/4 of the U.S. and their per capita is 1/20. Not very much of that money is trickling down to the consumers.

Article from the China Daily: Logic of blaming China for US crisis is bizarre

From France 24 English

CHINA: Who knew that China had a thriving, get rich quick, contemporary art market? Aparently the days of windfall art profits are over though, as France 24 reports.