Table Talk: ‘God made the world, all the rest made in China’ PDF Print E-mail
Wednesday, 16 November 2011 15:35

BY Mike S Apostol

Title of this column is not mine but lifted from the economic column in Time Magazine some two years ago. Indeed, there is truth to this observation, judging from what we see. China has in fact economically invaded the world with the proliferation of its goods everywhere from garments, canned foods, toys, accessories, cars and trucks and spare parts, etc.etc.

The growing economic power of China is also making her a military superpower. What is really the meaning of a “super power’? In Political Science it means, “a country that has the capability to respond or invade foreign lands in a short span of time or immediately”. Right now only United Sates of America has the capability, perhaps Russia, but since it has been divided, it weakened her militarily but China is getting closer to being a super power.
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Now back to economics of China. US President Barack Obama, still recommended the strengthening of the Chinese Yuan at the APEC Summit in Hawaii. For what reason only America knows it, or, perhaps to lessen the cost of America’s debt to China because the heavier or costlier the currency of a country lessens its value in quantity in terms of its loan value to country in debt that has also a very strong currency. Especially most currencies in the world peg their value to the Dollar backed by gold reserve kept in Fort Knox, America. But China has an edge over America because China’s surplus is what they are giving out as loans.
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But come to think of it, members of the so-called Third World countries, Philippines included, are the biggest buyers of goods of all kinds that are made in China. Are the value of those goods really valued as what price it commands? For example, if a lighter that is made in China sold to a Filipino businessman at a cost of P8 with a manufacturing cost of P6, is it really worth that manufacturing cost? Made in China goods are very cheap but in a few days or weeks it is unserviceable anymore, like auto spare parts. So the possibility that it is not worth its manufacturing cost.

Genuine Cricket lighters cost P35 and you can use them for months. China Cricket lighters cost P10 in your neighborhood store but your one pack of cigarettes is not yet consumed, the China cricket lighter is already out of gas.    Cricket lighters from China cannot even light 20 sticks of cigarette in a pack. You could imagine the enormous profit China makes in their exported goods but it is  also cheating the public of its money’s worth.
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Just recently China sent a protest to the Philippine Government to stop the bidding for the gas exploration in the Spratly, because they say they own the Spratly group of isles. Some months ago they drove out of the Spratly a group allowed by the Philippine Government to explore gas in that area. If China does not stop this tactics in the Spratly group of isles and once they will send their latest aircraft carrier in that area, our government can’t do anything especially with our World War II naval boats. It is enough that China is attacking the Philippines economically and we are already a conquered consumer but to grab our lands is tyrannical and greed.