The Media Doesn't Understand China

How naive can the news media be about China?

Almost 10 years ago, I tweeted, "When the numbers out of China are bad, the Wall Street Experts gloat.  When the numbers out of China are good, the Wall Street Experts doubt the numbers."

Things have not improved.

The experts, investors, analysts, are dancing around the glow-in-the-dark totem pole of China's recent economic travails and domestic peccadilloes.  To me, it all seems like chest thumping (or in milleniology--chest bumping) bravado.

I will try to explain things again.

Through the magic of metaphor, you are starting a business.  You're not a creative, innovative, high-tech entrepreneur.  You are simply starting a business.

You've tightened your belt.  You've been living on a shoe-string budget.  You've elevated your bank account from poverty to the investment class.  Everything you've made has gone into savings.  But the journey has only just begun. 

Now that you've started your business, every penny you make goes into your business.  At home, you have oatmeal for breakfast, half a peanut butter sandwich for lunch, and Ramen Noodles for dinner. 

All your spending is committed to growing your business.

Gasoline to see clients or customers, parking meters, photocopy fees, ink-jet cartridges, postage.  You get the picture.

Now, on to China.

China raised 500-700 million people from poverty to the middle class.  That was the domestic economic activity.  Now, China has the Belt and Road Initiative. 

Back to you.

Your competitors deride and ridicule and dismiss you.  They mock your peanut butter lunches.  Meanwhile, however, you are cold calling.  You are building your client base. Your customer base.  You are gaining referrals.  All your money is being poured into your efforts to attract and keep customers.  Soon, you know, it will pay off handsomely.

China is tightening its belt a little more.  The Belt and Road Initiative is its business. 

Here is some guidance:

"Those who forget history are doomed to repeat it."
Santayana.

"Those who remember history are able to repeat it."
Slim Fairview.

"Those who never learned history are doomed--period!"
Slim Fairview.

"China will succeed because China will do as we did and not as we say." Slim Fairview.

But most important (and not most importantly):

"In the tale of The Tortoise and the Hare, the Turtle didn't win because slow and steady wins the race.  The Turtle won because the Rabbit was stupid."  Slim Fairview. 



All quotations except as noted are from
The Quotations of slim Fairview. © 2019
All rights reserved.

Sincerest regards,

Slim.

"If you find anything here to be helpful, please don't hesitate to send me a really tricked out Mac Book & to tuck a few dollars into the envelope along with a thank you note." Slim.

Robert Asken
Box 33
Pen Argyl, PA
18072

Copyright © 2019 Robert Asken
All rights reserved.