{"id":15944,"date":"2012-03-03T03:20:12","date_gmt":"2012-03-03T03:20:12","guid":{"rendered":"http:\/\/www.drishtikone.com\/?p=15944"},"modified":"2012-03-03T03:20:12","modified_gmt":"2012-03-03T03:20:12","slug":"chinas-economic-model-unsustainable-world-bank","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/drishtikone\/2012\/03\/chinas-economic-model-unsustainable-world-bank\/","title":{"rendered":"China’s Economic Model Unsustainable: World Bank"},"content":{"rendered":"\n<\/head>

\"\"Was talking to a colleague who just joined the company and had just left Greece. \u00a0He was telling us about how the Greeks are lining up at the banks to withdraw their money and the cashier ladies were sitting with loads of cash giving out. \u00a0As he put it \u201cGreek banks are just just buildings now, there is nothing left in them.\u201d<\/p>\n

As we speak, somehow the pain of Europe (and the world) is being pushed away somehow. \u00a0Ironically the more it is pushes into future the worse it will become.<\/p>\n

If Greece goes countries which lent money to its banks will also go into deep red. \u00a0Like this guy said, there is one town \u2013 small one \u2013 in Greece, which had the highest number of Porsches bought per capita anywhere in Europe. \u00a0All those are now being repossessed and shipped to Germany for Seconds sale, as no one can afford them in Greece.<\/p>\n

While Europe tethers precariously on the brink, we have now World Bank warning<\/a> China to \u201cscale back its vast and powerful state-owned enterprises and breaking up monopolies in strategic sectors\u201d. \u00a0World Bank President\u00a0Robert Zoellick\u00a0said at the launch of the \u201cChina: 2030\u201d study \u2013 that the current economic model of China (Export and investment driven) was no longer sustainable anymore. \u00a0The 30 years growth rate of 10% was probably now in peril.<\/p>\n

\u201cThe country\u2019s current growth model is unsustainable. This is not the time just for muddling through \u2014 it\u2019s time to get ahead of events and to adapt to major changes in the world and national economies.\u201d<\/p><\/blockquote>\n

It is projected that the growth rate will decrease to 5-6% for the next 20 years.<\/p>\n

For a country for which its exports and investments from outside and doles from Government are directly related, a slowdown is really unsustainable. \u00a0In normal world, such a model is called a \u201cPonzi scheme\u201d. \u00a0Because the country which is converting investments to exports (input to output) is really earning a loss on the investments. \u00a0With sale prices often so low that they may not even meet the cost price but kept at that level with the sole purpose of garnering the market share. \u00a0Such Investment to Export conversion at a loss model is really unsustainable.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

Was talking to a colleague who just joined the company and had just left Greece. \u00a0He was telling us about how the Greeks are lining up at the banks to withdraw their money and the cashier ladies were sitting with loads of cash giving out. \u00a0As he put it \u201cGreek banks are just just buildings […]<\/p>\n","protected":false},"author":1517,"featured_media":15945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98,15,79],"tags":[],"class_list":["post-15944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china","category-economics","category-us"],"yoast_head":"\nChina's Economic Model Unsustainable: World Bank<\/title>\n<meta name=\"description\" content=\"Was talking to a colleague who just joined the company and had just left Greece. \u00a0He was telling us about how the Greeks are lining up at the banks to\" \/>\n<meta name=\"robots\" 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