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Do things right
By raymondusa (China Daily website forum)
2007-10-19 10:25

China has been a country for thousands of years. It has withstood the test of time, from periods of prosperity, to civil war, to dynasty changes, to explosive economic development, and other cycles of change. For 18 centuries, China and India were the top two economies in the world, at one point both accounted for 52% of world GDP.

China also made some mistakes alone the way. It's bound to happen when you have been around for thousands of years, as no country is perfect. A big one was closing off the country, becoming more insular, and not truly participating in the Industrial Revolution.

By the mid 1800's, that was when the British surpassed China, and by the mid 1990's, US surpassed the British. US supremacy has only been less than one hundred years. By comparison, China had dynasties longer than that.

Be true to your own country as there is no need to follow any country. China must be doing more things right, than wrong, to last for millenniums.

USA is just an infant country. For all the unfounded arrogance of some Americans, coming to this China site to boast, none can even guarantee that US will reach its first millennium, forget millenniums.

I think some Americans live in the past, and really don't understand the sad current state of the US economy. USA has anemic GDP growth (less than 1% this quarter), burdened with massive debts and unfunded liabilities, and a very weak balance sheet, making Central Bankers around the world rebalance away.

Combine that with hegemonic unilateral foreign policies that really just increase animosity around the world, and you have the makings of a disaster. This unfounded arrogance is laughable when you consider US cannot even pay its bills, and must borrow money from foreign countries.

It recently asked both Russia and China to please keep financing America. If not for China being a net buyer of US Treasuries, US would be in far worse shape. Therefore, USA is not a country to copy, unless you want to run your country into bankruptcy.

USA is technically insolvent now, and if it were a company, its weak balance sheet would need bankruptcy protection. This conceit by some people rings hollow, especially under honest and factual scrutiny.


  Hu Jintao -- General Secretary of CPC Central Committee
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