Re:China surpasses US as world's largest trading nation
by InclinedPlane on Saturday January 11, 2014 @04:33PM
(#7043837)
Tu quoque?
Yeah, there's corruption in the US/Europe/Japan et al, but that level of corruption is dwarfed by the deeply systemic corruption up to the highest levels in China and Russia, among other places. The fact is you can't even tell what China's GDP is within a factor of maybe +/- 50% due to that corruption.
How about LIBOR rigging? Or traffic lane closures to spite political opponents? If anything you could argue manipulation in the US and Europe is far more sophisticated than China. For example, there's manipulation in plain sight: focus on the U-3 unemployment number rather than the U-6, never mention the labor participation rate where 92 million people in the US have given up looking for work.
And look at the news in the UK newspapers today:
The corruption of Britain: UK’s key institutions infiltrated by criminals
Secret report shows how organised crime infiltrated judicial system as well as police with prison service and HM Revenue & Customs also compromised.
http://www.independent.co.uk/news/uk/home-news/the-corruptio...