Thursday, February 09, 2012

Another Chinese Revolution?

Sign of the times: The New York Times publishes a devastating opinion piece on the situation in China that reads like a Foreign Confidential™ article--this one, for example.

In fact, the Times essay just scratches the surface of what's really happening in China. In addition to the tens of thousands of insurrections of varying sizes and durations, violent crime is rampant; rich Chinese businesspeople live in fear of robbery, kidnapping, and murder; over-the-top corruption is out of control, spurring rising rage and resentment (and a surge of fraud allegations and foreign securities lawsuits against listed Chinese companies); Chinese companies are developing a reputation for unethical behavior (fueled in part by negative publicity resulting from a wave of overseas lawsuits against a wide range of Chinese companies); and capital is flooding out of China.