Saw this news today. First impression, Mao's wish finally comes true. 超英赶美，终于实现了，但是ironically, when we are in the position of 赶美，我们超的居然是日... 一个理论上被我们用了八年时间千万人民鲜血而“击败”的国家。Not sure whether I should be proud for the great achievement, which arrives about four decades behind Mao's schedule.
Jokes aside, I am proud of the global image of my homeland nowadays, and it is enhanced everyday. 3rd world brothers are depending on us, and 1st world countries feel threatened by us. Nice. However, the present situation is far from an achievement.
Most of the money comes from export. What does that mean? Low domestic demand, which implies low income. Low income means cheap labor, the product most investors are interested in. That will promote more export. Wait a sec. Do I see a loop? More and more export will make the number look better and better, and to keep this number, we have to keep income low, which will keep domestic demand low.
What if we finally decide to pay more to workers? Investors shift to SE Asia, and other 3rd world brothers. By that time, will we be able to pull up enough domestic demand to maintain the same employment level? Will our own brands expand enough to use other countries' cheap labors to benefit our own citizens' well being? Or we have to go back to the self-sustained economy, like in the good ol' Qing Dynasty?
What if we decide to keep the investors interested? 我的同胞们将继续在国内水深火热，even in big cities, like my hometown Beijing, people are spending the money equivalent to their salary in 60 years to buy the right to live in a small 3-bed 1-bath apartment for 70 years. Saving for retirement? Employed people need to live with their parents so they can eat and wear like a Gen Y'er. We are surviving only because our parents sacrificed their life style throughout their lives, and we are all only-child's. It is too disturbing to think what is going to happen when Gen Y'ers have no one's saving to eat up, but instead, have not one, but possibly two kids to raise.
People in small towns? Still fantasizing about the elite status they thought colleges would offer.
While everyone is intimidated, surprised or enlightened by Communism China's fast development and great achievement, I feel the seemingly successful path needs to undergo some desperate and hysterical change to keep being successful. Otherwise, it could only be good in numbers, but not people's lives. Even for option 1, the promising land doesn't seem so promising.
Dictatorship brings us GDP growth and competitiveness by dictating foreign currency, exchange rate, and foreign investments, but it also brings us the weird "lifestyle for GDP" scheme.
Good night, and good luck
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