China, Samoa and world economy

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Dear Editor,

Re: Pacific needs money, not words 

The global economy collapsed in 2008. China at the moment is the only country that is keeping global capitalism running, much like the US did with the Marshall Plan after the Second World War. 

Whether they are doing it with real money or money being printed at will is the question. If China can keep its growth rate at around 7 percent they can keep the global economic system alive. 

Hollywood is correct when he says that the US and Australia can no longer fulfill this function because of the corruption on Wall Street and banks that are too big to fail for the US and in Australia’s case the economy is just not big enough. 

My prediction is that China will not be able to keep their growth rate at 7 percent for the long term no matter how many nations they try to make into their personal markets because capitalism has created too much of a wealth gap globally, global wages are too low because of terrible trade deals, Donald Trump and I agree on this, that destroyed wages, and land speculation. Maybe I will be wrong but I don’t believe I am. 

I believe 2008 was the end of global capitalism, as we know it, China has just managed to hide this fact for the time being. If everyone is poor how can consumer capitalism survive? It can’t! 

Europe’s economy is collapsing, the U.S.’s economy is collapsing, average people in Canada, Australia and NZ and etc... can longer afford housing. 

Samoa would be crazy to negotiate with their land with China at the moment, once the 2008 collapse becomes apparent to everyone and the Wall Street 1 presenters and their friends walk away with everything they have hidden in their offshore accounts Samoa will want to have control over their only resource, land.

 

Ueni

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