i never got to write much here about china, except hint occasionally that i do not succumb to the view that we are witnessing a chinese miracle. as a matter of fact, the official slave industry that is china, has already begun suffering from monkey wrenches breaking its basically foreign installed and managed economic machinery: labor intense production is not efficient and costs are rising as bankruptcies mount. manifacture is escaping town, to even more backward alleys as vietnam, maybe now after the deluge, to myanmar which the brits still call bhurma! (*)
that is capitalism for you... dickensian labor exploitiation of the 19th century turned slant-eye in the 21st... only to the limit it cannot be permitted any more to disrupt the overall (global, if you like) balance of the entire market by sapping free enterprise and competition. yes, capitalism thrives also on all the freedoms that make it function, all of which china lacks.
it is those freedoms that regulate the end-profit margins in the market. no jobless european or american is interested in buying cheap asian goods, not because of any philosophical or national or racil cause but simply because economics dictates that a jobless man cannot afford to buy too many things. therefore, like water in different elevations, capitalism seeks its own levels of survival.
(*) hurray for the brits! i hate this postmodernist pseudo-anticolonialist, quasi- postcolonialist maneouver of changing country names to pretend "identity" and independence. all ex-colonies today are even more dependent on former conquerors, plus, almost all have also to kowtow to the u.s. on top of former sahibs. change of name is too facile for a change of fate, as minds and technics of ex-colonies are still dominated by rules of slavery. ditto, i also hate the campaign to change turkey's official international name to türkiye, for the reason that it reflects a colony mentality. it is also rude and impolite: the excuse for the proposed switch is that turkey is the english name of a bird and therefore, insulting to turks. the same bird, is called hindi in turkish, which means "indian"! yet, i fail to come accross any campaign in turkey to change its name to anything from hindi, which indians may equally percieve as debasing. typical to the colony mentality, neither such eymological knowledge, nor such sensitivity is expressed by the extremely touchy türkiye campaigners.