News for hackers. Stuff that matters.
Re:Why the World Is Too Optimistic About China's Economic Fu... by contingencies on Tuesday October 21, 2014 @04:18AM (#8486408)
Agreed: yet another China bashing article. What these innumerable western China observers touting economic jargon in their articles miss is the fact that China is self-sufficient in most meaningful ways.

Yes, they do import luxury goods, no, a shortage won't cause national issues. Yes, they have an energy challenge, no, that's not ignored ... in fact it's reasonably easy to argue that China is further on top of world energy challenges than any other nation.

What's it really like here? Most people live where they were born, or in the nearest large city. They might go to study in a larger city when young. They make ends meet, have a roof over their head, have cell phones, electric scooters or motorbikes (in the countryside), and the affluent and middle classes have cars and can travel.

As a foreigner, it's surprisingly comfortable once you get over the visa hump. A few days ago I came back from a major city with bottles of wine and cheese, about the only hat-tip to imported stuff except perhaps Steam games and the occasional Amazon book in my lifestyle.

Yesterday I rode my electric scooter to the morning market and ate a sort of bean soup with fresh coriander, chilli and garlic and lovely spring onion breads. I think a breakfast for two came to about $1. Then my wife and I went shopping for fresh vegetables for the family, in a massive market featuring produce picked the same day piled in much greater variety than any western supermarket. We spent perhaps $8 which is enough for perhaps 10 people for a day, otherwise for multiple days.

I worked during the day via VPN, then in the evening sat in front of the widescreen TV to enjoy some flat-rate video on demand from the extensive - despite our semi-rural location - international selection available through the local cable company. Afterwards, we got on Taobao and ordered a couple of wetsuits, some gloves and sailing shoes. Equally, we could have ordered arbitrary quantities of almost any chemical or object you can imagine.

This morning I woke up to a lovely salad with ample cashews and blue cheese, checked in to my email, then rode the electric scooter to go sail a catamaran on our local 210 square kilometre alpine lake for three hours. The weather was perfect, and it's practically November here in the northern hemisphere at an altitude of 2000m (6500ft). I'm getting ready to participate in the first national sailing competition to be held here next month.

After sailing, my wife, aunt and I sat down to a lovely meal in a restaurant featuring a sizzling beef hotplate, a plate of shitake mushrooms and greens, and a tofu and tomato dish with spring onions. Meanwhile, my mother in law looked after our child for free - no need for paid childcare here! Total cost of the meal? Perhaps $8. We discussed some plans to help our aunt open a new restaurant, since her last business partner was rather a nasty character. Decades ago, she was a star English student... perhaps she will open something western?

There are almost zero homeless people here, people have a family support network to fall back on, and tangible freedoms are in many instances more numerous than in much of the west. Yes, there are limitations in every society - it's just a matter of knowing where they area. Legal weed? It grows here wild, naturally, and you can buy sacks full of seeds in the market. Mushrooms? We're the world capital. Paragliding, sailing, off-road mountain biking, climbing, etc... it's all here.

Oh, poor China - how I loathe thee! 13 years and counting ;) Of course, I wouldn't want to live in the east coast cities...

Re:Why the World Is Too Optimistic About China's Economic Fu... by davewritescode on Tuesday October 21, 2014 @07:17AM (#8486803)
Thank you for your insight into how easy it is to be a rich foreigner in a country where per capita income is roughly 10% of what it is in the US.

China has very very real issues that they haven't addressed in the slightest. They're building tons of real estate that has almost no chance of ever being useful to bump GDP, they're facing domestic unrest in Hong Kong, and they're transitioning into being a more open democratic society. Nobody knows how this is going to work.

Re:Why the World Is Too Optimistic About China's Economic Fu... by contingencies on Tuesday October 21, 2014 @07:19PM (#8490737)
Firstly, 10% per capita means 20% per capita because nobody pays tax. Secondly, nobody knows the real numbers because it's largely a cash economy. US real estate is largely empty too. People here don't need cars to live, and overheads on everything are far lower, so 20% per capita is actually a much nicer life than in the US. Say you have $20 per day, you can live really fine here. People are supported in retirement by their families, who they continue to live with, so there's no need to save as much beyond your children's education. Hong Kong 'unrest' is irrelevant to mainland China, except to show that the government has already vastly improved its capacity to respond to such situations. Everyone here knows exactly 'how its going to work': the Communist Party will stay in power.
Re:Why the World Is Too Optimistic About China's Economic Fu... by smcl on Tuesday October 21, 2014 @05:34AM (#8486616)
I think you're missing the point of the article. Your "my life as a rich foreigner in China" comment doesn't really address of the concerns Larry Summer had about China's future, and in fact it doesn't even seem to be particularly negative about the country (it's mostly drawing comparisons to other nations who rapidly developed in recent history), so I think you're being a bit defensive.
Re:Why the World Is Too Optimistic About China's Economic Fu... by adventured on Tuesday October 21, 2014 @07:02AM (#8486767)
China's biggest problem, besides the mountains of debt, the record inequality, the broken farming (in which ~600 million people are being kept busy with intentionally inefficient farming practices so they have something to do), the lack of individual freedom, the lack of property rights for farmers, the pollution, and the heated conflicts with most of their neighbors - is probably water. 20% of the world's population, 5% to 6% of the world's fresh water, and falling:

http://qz.com/166235/chinas-water-shortage-is-so-bad-it-coul...

Re:Why the World Is Too Optimistic About China's Economic Fu... by hga on Tuesday October 21, 2014 @10:11AM (#8487395)
Speaking of inequality, what about the gender ratio caused by the One Child policy? How stable can a country be when 10s of millions of men have no hope of getting married?
Re:Why the World Is Too Optimistic About China's Economic Fu... by contingencies on Friday October 24, 2014 @03:40PM (#8505513)
{{citation-needed}}
Re:Why the World Is Too Optimistic About China's Economic Fu... by lionyo on Tuesday October 21, 2014 @04:28AM (#8486434)
Which city are you in? The sailing and food sound great
Re:Why the World Is Too Optimistic About China's Economic Fu... by contingencies on Tuesday October 21, 2014 @07:14PM (#8490712)
Fuxian Lake, Yuxi, Yunnan