Sat, Nov 04, 2017 - Page 8 News List

Pulling sheep’s wool off the wolf

By Wu Hui-lin 吳惠林

China’s model of economic development is actually fiendishly simple and founded upon resource-intensive production.

As early as 1994, economics professor Paul Krugman, who was later awarded the Nobel Prize in Economics, exposed China’s growth model as mercilessly forcing down production costs, flooding world markets with cheap goods, copying other companies’ products, selling tainted products and taking over foreign cities and towns under the guise of free trade.

China also forces down the value of the yuan to ensure the flow of its cheaply priced products abroad — setting off global deflation.

Economist and White House National Trade Council Director Peter Navarro coauthored the book Death by China: Confronting the Dragon — A Global Call to Action with Greg Autry, which was released in 2011 and turned into a feature-length documentary film the following year.

The book uses an abundance of statistics to reveal the naked truth of China’s economic growth model. It shows how Beijing uses its vast foreign reserves to manufacture financial bubbles within China that keep its citizens hooked on money, while snapping up assets abroad — whatever the cost — and threatens and bribes politicians, businessmen and media organizations.

As China spreads its poisonous communist ideology around the world, it plunders global resources.

Two documentaries, Agenda: Grinding America Down and Agenda 2: Masters of Deceit, which were recently given a rescreening, are full of theory and factual evidence. They document an elaborate military buildup by China over a nearly 100-year period with the intention of obtaining total control over the US and achieving global hegemony. The films also offer up an effective strategy to counter Beijing’s con game.

Taiwanese would benefit from watching them. It might just help Taiwan to avoid being a society further contaminated by communists and prevent the nation from falling into the abyss.

Wu Hui-lin is a researcher at the Chung-Hua Institution for Economic Research.

Translated by Edward Jones

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