Again I’ll recommend last Wednesday’s “There’s Something Wrong With Me” and paste a copy below. Please read it and share it with everyone you love and everyone you hate.
If we want to be happy, etc. — first, we have to want to be happy, etc. This will be a good second step.
“China’s trade in services a new driving force for foreign trade”
[People's Daily link -- July 25, 2014]
- Over the first five months of this year, the growth rate of service exports [15.9 percent] exceeded imports for the first time.
- Since joining the WTO, China’s service trade has expanded rapidly; its world ranking has climbed from 13th in 2001 to third at the present.
- Ministry of Commerce spokesman Yao Jian said that in the future, competition in world trade will be reflected more in trade in services, which has become a new driving force for economic growth and a focus of great power competition.
“Why is China increasing its US debt holdings?”
[People's Daily Overseas Edition link -- July 25, 2014]
- U.S. debt should be the largest component in our country’s foreign exchange reserves, and this is unlikely to change in the foreseeable future. It is decided by the U.S. position in the global financial markets.
- Mei [Yuxin, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce] also said the increased holdings of US debt also show investors are optimistic about the U.S. economic recovery.
- According to Xu Hongcai, an economist with the [Chinese Communist Party's] China Center for International Economic Exchanges, since the second half of last year, the U.S. economy has experienced a relatively strong recovery, and as a whole, the situation of the U.S. fiscal balance has improved. In addition, structural reforms have achieved some positive results. An increase in holdings of U.S. debt at this time shows investors’ confidence in the U.S. economic recovery.
- Whether we should increase or decrease US debt holdings in the future will depend on the rate of return, according to Mei.
- On the premise of protecting safety and liquidity, foreign exchange reserves management should strive to improve the return on investment. More foreign exchange reserves should be directed to support the development of China’s economic entities, local governments, and enterprises “going global”, and actively participate in foreign direct investment.
- Experts said that under the current context of weak global economic recovery, to protect its foreign exchange reserves against the risk of depreciation China needs to carry out reform of its industrial structure, trade policy and exchange rate policy. In particular, China should adjust its unbalanced industrial structure in order to achieve balanced foreign trade and financial items as soon as possible.
“1 pct of Chinese own one-third of national wealth: report”
[Xinhua link -- July 26, 2014]
- Chinese households on average had a net worth of 439,000 yuan (about 71,000 U.S. dollars) in 2012, up 17 percent from the 2010 level.
- Income inequality rose rapidly during the period, the [Peking University] report said, as the top one percent of Chinese households held more than one-third of the nation’s wealth, while 25 percent of households at the bottom owned only 1 percent of the country’s property value.
- The report showed about 74.7 percent of Chinese household wealth came from owning real estate.
“Military exercises cause major flight delays in China as PLA carries out live fire drills”
[SCMP link -- July 27, 2014]
- Military experts said the drills were intended to signal China’s tough stance towards Japan and its ally, the United States, and were timed to coincide with the 120th anniversary of the first Sino-Japanese war.
- Air travellers can expect little relief from the delays, with the live-fire drills — which started last Sunday — due to continue in waters off the east coast until August 15.
“RIMPAC 2014: Participating Forces”
- Twenty-two nations, 49 surface ships, 6 submarines, more than 200 aircraft and 25,000 personnel will participate. Units from . . . Japan . . . the People’s Republic of China . . . and the United States will participate. RIMPAC is a unique training opportunity that helps participants foster and sustain cooperative relationships that are critical to ensuring the safety of sea lanes and security on the world’s oceans.
“Obama’s Russia Sanctions: Corporate America Has Much More To Lose Than Washington Realizes”
- Largely overlooked by the American press, Japanese officials could hardly be less sympathetic to the Obama administration’s Russia policy. This is in part because the current crisis catches Japan at a particularly inopportune moment. The fact is that by far Japan’s single most important territorial dispute — vastly more important than its dispute with China over the Senkaku Islands — is a dispute with Russia over the Kuril Islands. Two of these, with an estimated combined population of about 15,000, were previously part of Japan but were captured by the Soviet Union in 1945. All the evidence is that Japanese officials have been quietly negotiating with Moscow for nearly a generation and, before the Ukraine crisis intruded, had come close to a deal for the islands’ return to Japanese sovereignty.
This new blurb:
“Bob Hall is an American patriot with a broad vision that sees what the experts overlook. He challenges the conventional wisdom and exposes its false assumptions with deep insight and wisdom.” — Clyde Prestowitz, writer on global affairs and president of the Economic Strategy Institute
Will appear on page 2 of my compendium, which is always free for the asking, so please don’t hesitate to ask.
If you don’t believe a book can be worth more than its cover price — well, let’s just say you’ve come to the right place.
E-mail: DollarToTheGiant@Gmail.com for Fear-Fallen Children: “Dollar to the Giant” Chronicles & Comments June 2008 [#1] to Date [#1100] notably resisting America’s Shift from Wealth Creation to Wealth Transfer and Surrender
“There’s Something Wrong With Me” — FFC #1098 of July 23, 2014
This essay isn’t about Nazis, but I can’t think of a better way to begin.
If something defies logic, then maybe there’s a reason. Nobody can solve an emotional puzzle with logic, intellect.
(Haven’t you ever loved a person you swore must be crazy?)
I’ve known lots of people who, when they were young children, and learning about themselves from old children, learned and memorized this:
“There’s something wrong with me.”
There you have it. They were wrong, of course, but there you have it anyway.
The shrinks might call it “low self-esteem” but it’s our country’s biggest problem. Every compulsion and addiction — from overeating to serial murder — is rooted in this fundamental self-hatred.
Every exploitation and vulnerability, too. How often do we make a purchase decision — or otherwise socially conform — to avoid the feeling, deeply subconscious, that “there’s something wrong with me”?
A hundred years ago, the typical German household was not what we Americans would think of as kid-friendly. Humiliated German children grew into adult Nazis who saw themselves — their defective and vulnerable childhood selves — in their Jewish victims. They symbolically exterminated their childhood selves, and thus completed the work of their childhood authority figures.
I know too many self-hating Americans — mostly good people of low self-esteem — who see themselves in their own children and grandchildren.
They are wrong, of course, but there you have it — and the reason their behavior defies logic.