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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (15489)	3/25/2003 10:27:50 AM
From: stockman_scott	Read Replies (2) \| Respond to of 89467

<<...I also saw a new Premier who seemed to have a knack for macro, not unlike his predecessor, the indomitable Zhu Rongji. Wen Jiabao was very much up to speed on all of China’s macro tension points -- its role in shaping worldwide deflation risks, currency-related sensitivities, and the potential trade tensions that might afflict an export-led economy. And he had a holistic grasp of the complexity of China’s reforms, stressing the interplay between the imperatives of urbanization, restructuring of state-owned enterprises, financial sector reforms, the establishment of a viable social security system, and agricultural reforms. It was a first meeting, to be sure. But I saw a grasp of the big picture in the biggest country of them all. From the standpoint of economics, the world couldn’t ask for more from the new Chinese leadership. Don’t get me wrong -- it’s far too early to anoint China as a new engine of the global economy. But I remain convinced that day is coming -- and probably a good deal sooner than anyone thinks...>> jw: fascinating observations from Roach...China is a powerhouse to be reckoned with...Bush's new 'pre-emptive strike doctrine' disturbs them BUT it also may give them an excuse to do some things we may not like...I continue to believe the 'UNintended consequences' of this war with Iraq will haunt our country for years to come...The U.S. can NOT ignore the economic potential of the Chinese market (just like we can't ignore the oil and natural gas resources that Russia has).