Monday, November 10, 2008

The China Syndrome

Silly Money (part two) - Bremner, Bird and Fortune

Monday, 10 November 2008 Bremner Bird and Fortune: Silly Money Part Two This week, in "The China Syndrome", the three satirists discussed the role of the former Communist country in the global economy. Unlike many countries, China has saved trillions of dollars in foreign reserves. As there are no social programmes, citizens must save around 50% of their money to survive. Families are only allowed one child, so they cannot rely on their income. Their economy has grown by 10% per year for the last 25 years, while a city the size of London is built every year. comment from http://brennybaby.blogspot.com/2008/11/bremner-bird-and-fortune-silly-money_10.html

Posted by malct @ 05:47 PM (967 views)
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6 thoughts on “The China Syndrome

  • Silly Money (Part 2 of 4).
    Bremner, Bird and Fortune offer a satirical look at the global financial system in all its astonishing sophistication and stupidity, arguing that while money makes the world go round, it also makes it go pear-shaped. The power of money is behind many of the world’s current problems. It has never been more powerful. But equally, it has never been less understood, even by those whose job it is to understand it.

    Bremner, Bird and Fortune(Comedy)
    Channel 4
    Tuesday, November 11th, 2008
    12:50am to 1:50am

    http://uk-tv-guide.com/programme-details/Channel+4/11+November+2008/00%3A50/Bremner%2C+Bird+and+Fortune/Comedy/

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  • The China situation

    The rest of the world fared worse. And, we hear that China has this great economic growth, still on the order of 8% a year, a number any nation would kill for. But, China needs to ADD 15 million jobs a year merely to keep up with population growth, having 1.3 billion people!

    So, this 8% growth in China is mandatory, not merely a luxury since China still has 800 million peasants in the rural areas all clamoring to move to the cities for better pay. Even at the lowest levels, Chinese city pay is three times the basic rural income which is starvation wages.

    And then consider that there are 130 million undocumented Chinese who flocked to the cities for work (not residents of the city) who have nowhere to go now that their export dependent economy is slowing rapidly. The recipe here is for a revolution in China if they cannot keep 800 plus million people working… and this is just beginning to happen. And this issue is widely known to scare the hell out of the Chinese government.

    http://www.informationclearinghouse.info/article21179.htm

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  • Ever since it reported sharply slower economic growth in the third quarter (9% vs. 10.4% for the first half) China’s top officials have been signaling that an economic stimulus package was coming to boost domestic demand and that the tight monetary policy imposed earlier this year would be eased.

    Today, China’s media announced that the State Council, the country’s highest decision-making group, had approved at a meeting on Wednesday a package of capital spending plus income and consumption support measures. This confirms that damping down inflation in a runaway economy is no longer the policy priority. The top economic concern is now arresting the rapid slowdown in growth as a result of the slumps in China’s exports in the wake of the global financial crisis

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  • Cable TV offers a catch up facility and this programme is available on Virgin Media service

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  • jack c – is the cable TV facility available underwater?

    Thinking of Nemo.

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  • @malct – only if heading West as the Atlantic is full of fibre optic cables – you do realise no one else will have a clue what we are on about here and we will be branded Northumberland fruitcakes

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