Friday, January 12, 2007

penguin banana escapism

"So are you worried about China?"
"Not really, the big margins are in services."
"But China is producing more than products, it's also producing a skilled workforce."
"How skilled?"
"I heard one international company wanted to set up a fab there and put out a call for managers with Ph.Ds in chemical engineering and got 15000 applications that fit the brief."
"That's doesn't bother me either."
"Are you serious?!?"
"Listen, there's more money today than there was yesterday, the global economy continues to grow as people add value."
"But what about jobs?"
"If you wanna build a dam, buy some heavy earth-moving equipment, if you wanna 'create jobs' then shucks, all you need is a lot more men and a lot of spoons."
"I still don't get it."
"Money isn't the fuel in the economic engine, it's the grease, the lubricant."
"Yeah, so?"
"China invests much of it's profit right back in the countries where it sells it's goods, too much demand for the Yu-an would ultimately make exports unprofitable"
"Hey, I heard they devalued their currency to protect their export business."
"Some people accuse china of dumping their goods in the west to destroy any competition."
"Ah, well, social change always entails social disruption."
"But let's get back to the subject, what was it?"
"Oh yeah, I think I'll get the hot and sour soup and crispy duck."

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