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People's Daily Online>>China Business

'China-bashing' lacks credibility

By Tao Wenzhao (People's Daily Overseas Edition)

16:58, March 05, 2012

Edited and translated by People's Daily Online

On Feb. 27, the Time Magazine website published an article by its senior reporter Michael Schuman, claiming China's current economic system is unsustainable. The writer even predicted that a crisis may break out in China around 2014 or 2015. Apparently, this is another clichés of the "China-bashing".

In the past 20 years, "China-bashing" has been emerging from time to time. In the United States, this theory was most popular in the early 1990s. Some U.S. politicians and academicians believed that, given that the even the Soviet Union, which had been ruled by Communist Party for more than 70 years, can fall apart so quickly, there was no reason that China will not follow suit.

Some people published articles and claimed that "China is on the edge of territory division, political collapse or democratic revolution".

However, China's development flies in the face of their expectations - not only did China not collapse, after Deng Xiaoping's 1992 southern tour talks set off a new upsurge of the reform and opening up, China experienced sustained and rapid economic development.

The "China-bashing" reemerged the late 1990s, the main argument this time being: the lack of competitiveness of state-owned enterprises and huge nonperforming loans on banks' balance sheet, which had reached the point of beyond remedy and about to collapse, meant that long-term economic recession was inevitable. But the prophecy of these people once again did not materialize, as China successfully dealt with these problems through a series of reform measures and continued to maintain the momentum of economic growth.

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Leave your comment7 comments

  1. Name

McKechnie at 2012-03-1565.95.206.*
There will always be speculation about a country and its events. This does not mean that they are "bashing" China. Don"t get so defensive.
General Niklos at 2012-03-08140.247.225.*
Chinese leadership must remember that US air force and navy stationed at Okinawa, Japan pose vital threat to all major cities and military targets east of Xian, because majority of US 4th and 5th generation stealth jets and bombers are able to conduct aerial assaults and carpet bombing on PLA command and control centers and military airports from Okinawa without mid-air refuelling in less than 200 minutes. As such PLA must develop capabilites to launch at least one week long aerial assault on Okinawa and degrade US military targets. And Chinese strategic missile force must be able to disable US air defense network near and on Okinawa in the first wave of counter attack.
Tracker at 2012-03-06122.107.107.*
@PD User, I see the Australian Labor Party even trolls Treasurer Wayne Swan has never had a business, never had a job outside his political life and union involvement and has no experience or understanding that business provides the billions of dollars of revenue to the Government not to mention employment for thousands of workers. Would you prefer these rich mining magnates move their Australian registered business interests off shore ? You refer to these business people as parasites ?? Are you aware Clive Palmer (just one man) contributes over 1 Billion dollars a year to Australia in taxes yet they are not permitted to voice an opinion that will affect their business in Australia ? PD User (who is Australian) is an example of why the West has serious financial problems. So much hatred for those who work hard and become successful. We ride on the coat tails of China"s success and live like there is no tomorrow yet we so easily criticise business people (and countries such as China) who put food on our plates. Thank you for commenting PD User, you have served as an example of Tall Poppy Syndrome :-)
PD User at 2012-03-06124.168.164.*
The Rich mining magnates of Australia use their wealth to sway public opinion in a way that the Australian worker could never hope achieve. Australian Treasurer Wayne Swan is absoluley correct, these individuals are parasites getting the best opportiunities by contributing vast sums of money to those in politics who prepared to serve them. The stupidity of Trackers comments are nothing short of breathtaking.
Tracker at 2012-03-06122.107.107.*
I wouldn"t worry about it. The West has a disease called "Tall Poppy Syndrome" and usually comes out when anyone or anything appears to be doing better than themselves. Obvious signs of Tall Poppy Syndrome is trying to deflect the pain they feel on to others so they won"t feel as bad. In fact right now our Treasurer Wayne Swan in Australia has Tall Poppy Syndrome and is currently criticising some of Australia"s most successful businessmen complaining their companies are too rich.

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