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*****Quote******
"7 March 1998
China to Boost Infrastructure Spending
There's been a warning from the Chinese President, Jiang Zemin, that the effects of the Asian financial crisis will hit the country later this year.
China has remained largely unscathed by the crisis, but President Jiang -- speaking to parliamentary deputies -- said its looming impact on the national economy could not be underestimated.
China is committed to radical economic reform in the state sector, which will lead to millions of job losses, and President Jiang again warned that redundant workers must be cared for.
Meanwhile, the Central Bank governor Dai Xianglong has said China plans to spend one trillion dollars over the next three years on infrastructure projects to stimulate the economy.
The money is to be invested in building roads and ports, bridges and power plants."
http://news.bbc.co.uk/2/hi/asia-pacific/62954.stm
****End Quote****
China's economy has grown enormously since 1998. Not without creating new problems like pollution, mind you, but the growing economy puts the Chinese in a position to address them. China spends only about one-tenth of what the U.S. spends on military purposes.
We need some of those same priorities over here.
In my view, this is one reason why the neo-cons like to demonize China so much -- Americans might catch on to how successful public spending on your own people's needs can be. posted 06/23/2008 at 17:15:09