In the News (from Spiegel Online): “China’s leaders are currently contending with declining demand, rising debt, and a real estate bubble. Some factories are laying off workers, suffering financial losses, or even closing as orders from crisis-plagued Europe dry up. The economic strains are frustrating workers and consumers in the country, threatening the political establishment and Beijing’s economic miracle.
“The new global crisis has reached China. Debt problems in Europe, the country’s most important trading partner, are starting to dim prospects here in the nation that has effectively become the world’s factory, as well. The unstable United States economy and threat of a trade war between the two superpowers make the situation even more uncertain.
“This October was the third straight month Chinese exports decreased. Along with it, the hopes of German manufacturers that Asia’s growth market might help lift them out of the global crisis as it did in 2008 are also evaporating.
“Many of those development projects, often megalomaniac undertakings from the start, are now ghost towns.
“While many in the West hold out hope that China can solve the euro and dollar debt crisis with its foreign currency holdings, the rift between rich and poor within the country is growing.
“This time China faces enormous challenges of its own — a real estate market bubble and local government debt — that could even pose a risk to the global economy.
“Now China’s state-run banks are paying their customers negative interest and Shanghai’s stock market is considered a high-risk casino, where a few major governmental investors are believed to manipulate exchange rates at will.
“As long as the one-party dictatorship kept growth in the double digits, most people accepted their lack of freedom. Now, though, Beijing is facing a dilemma. Tough police crackdowns will hardly get the consequences of the stagnating economy under control in the long term. But nor are government subsidies enough to stimulate the economy. It seems neither money nor force will help.”
My Comment: Nature directs us to an entirely new state in which we will have to change ourselves rather than anything outside. Humanity must become like the compelling forces of nature: integrally connected in general design, care, compliance, and mutual guarantee in reducing growth to the level of reasonable consumption and striving for universal fair distribution.
This can be achieved only through universal education, by transforming an egoistic human being into an altruistic one. Even if it may sound like a fantasy, suffering will force us to accept these conditions as binding. Not forced but conscious communism is a bright future for the entire humanity.