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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: geode00 who wrote (176547)	11/30/2005 3:13:27 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 281500

Geode, yes, I know China has millionaires. I have walked around the luxury malls in Beijing in which they shop. I have seen the huge construction projects under way. I paid for a translation of a property deal so I could buy a luxury penthouse apartment [but ran out of time, so didn't proceed]. I know there are large private capital works and companies and a LOT going on. As in New Zealand, much is still state-owned and since the government is still CCP-run in a single party state, it is still mainly communist. Yes, it's clear to me that there is a LOT of capitalist effort too. There are both communism and capitalists in China. The Republicans don't want to throw money at the ultra-rich. My understanding is that what the government has done is cut taxes such as dividend tax. That isn't throwing money at the ultra-rich. I am very glad they did that. It saved my bacon. Without dividends, I'd be in tax trouble here [having to pay capital gains taxes]. <Their growth will slow down but, short of internal political meltdown, they will be the world's largest economy in our lifetimes. They're not just manufacturing shirts for Walmart, they're doing R&D for Microsoft.> They are doing R&D for me too [in QUALCOMM]. Plus they are buying millions of CDMA devices, buying my ASICs and paying royalties. It's like in 1915, when my maternal grandfather and grandmother were living there using western capital and technology to get the place going. There has been a century delay, but 'we' are back again. It was NOT a good century for them. A century of poverty. We'll soon have them out of the mire, but maybe history will repeat and the area will go militaristic again. China is certainly acting militaristic over Taiwan. We won't stand for that. Nobless oblige, Mqurice