Every emerging nation goes through various challenges. For instance, a nation new to free-market capitalism often enjoys strong uplifting economic growth, and yet, the powers that be often see the incredible benefits and riches very quickly and thus, try to corral it all for themselves. Suffice it to say, we are dealing with humans on planet Earth, so this is bound to happen. Okay so, let's talk about this shall we?
First, it is human nature to want to do less and get more. If something is available for the taking, a human will undoubtedly snatch it up. Perhaps, this is why it's very difficult to prevent the incestuous relationship and power grab between businesses and governments regardless of nationality, country, or current system of government.
There was a rather troubling article in Sino Daily Online International News titled; "Thousands protest in China over investment scams: report," by Staff Writers in Beijing (AFP), published on Jan 3, 2012. One of the biggest challenges is that the working class does not have the investment vehicles it can rely on to get growth on their investments, and when they do invest often they get screwed by scams, corporate malfeasance, and cooked books. No wonder the 99% are upset and protesting. The article stated;
"Authorities have vowed to toughen a crackdown on illegal investment schemes after thousands of protesters took to the streets in central China, swarmed a train station claiming they had been defrauded and threatening to take their gripes to Beijing - 1000s of people. Municipal vehicles and other investments are plagued by illegal investment schemes, which offer higher interest rates than banks. Many investors have been left out of pocket after the operators of the scams went broke and fled."
This is the typical concept of "pump and dump" and taking the fraudulent and worthless investments and feeding it to the fishes, or those small-time investors who end up taking the hit, while the more savvy investment class walks with the money. Yes, we have had a bit of that in the US in the past, and even some still today, unfortunately in China the problems are running ramped and Chinese citizens are dealing with inflation, pollution, and false promises as their money has also disappeared, remember the lower-class, and middle class is the working class, and their money actually represents hard work, they earned it, they didn't steal it.
While China claims to be cracking down on investment fraud, the reality is that it is the policies of government at all levels "crony capitalism" which has caused this free-for-all mentality, "it's glorious to be rich" regardless of who is paying for it or how - mentality. The government is now claiming to recover the investor's money, doubtful I say, either the money doesn't exist any longer, or it has fled the country. Those who do make it and get rich in China, generally have one goal in mind, move out of China with their wealth.
If all this was not enough, many in China have watched their land seized and massive corruption of government officials at every level - needless to say - in some parts of their nation things are coming to a breaking point. Maybe the Chinese need to re-adjust their calendar to fit the Mayan 2012 motif? Please consider all this and think on it.
Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank; http://www.worldthinktank.net
Article Source:http://EzineArticles.com/?expert=Lance_Winslow
Did you find this article helpful?00
Get Involved0 commentsSuggest a topicArticle ToolsPrint this articleDownload a PDFE-mail to a friendEzinePublisherReport this articleCite this articleStay InformedGet notified by email when new articles are added to this category or written by this author.Subscribe to New Article Alerts: News and Society: Economics
Lance Winslow
Economics Article FeedFind More ArticlesSearchRecent ArticlesHow To Solve The Homeless SituationProgressivism Isn't Progress, VIIIHow Secure Is Your "Secure" Job?A True Comparison Of Increasing Debt Between Bush And Obama AdministrationsHow To Compete With ChinaWould Einstein Think Us Insane?What Will Happen If Greece Defaults?A Cluster of (Minor) ErrorsThe US Recovery Is Producing SurprisesA Sigh Of Relief For The Economic Status Of The USSubmitted On January 03, 2012. Viewed 7 times. Word count: 559.MLA Style Citation:Winslow, Lance".".3 Jan. 2012EzineArticles.com.26 Jan. 2012
Winslow, L. (2012, January 3). . Retrieved January 26, 2012, from http://ezinearticles.com/?Financial-Corruption-in-China-at-Every-Level---Who-Knew?&id=6793811Chicago Style Citation:
Winslow, Lance "." EzineArticles.com. http://ezinearticles.com/?Financial-Corruption-in-China-at-Every-Level---Who-Knew?&id=6793811
EzineArticles.com© 2012 EzineArticles.comAll Rights Reserved WorldwideAbout UsFAQContact UsMember BenefitsPrivacy PolicyShopSite MapBlogTrainingVideo ArchiveAdvertisingAffiliatesCartoonsAuthorsSubmit ArticlesMembers LoginPremium MembershipExpert AuthorsEndorsementsEditorial GuidelinesTerms of ServicePublishersFollow UsTerms Of ServiceEzines / Email AlertsManage SubscriptionsEzineArticles RSS
View the Original article
No comments:
Post a Comment