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Corruption: The Global Disaster Waiting To Happen, Part 2

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  • Corruption: The Global Disaster Waiting To Happen, Part 2

    In my last column on global corruption, I said that there was talk of Pakistan becoming the first “failed state” with a nuclear arsenal, and that Pakistan may only be the tip of the iceberg. If Pakistan is the tip, what is the massive center?

    China.

    Within the last month China officially passed Japan as the second largest economy in the world. Its economy, at a Gross Domestic Product (GDP) of about $8.75 trillion, is a bit more than half the size if the U.S. economy (currently at $15 trillion). China also has the third largest nuclear arsenal in the world, the second largest military budget, and is on-track to become a superpower equivalent to the United States in about twenty years.

    It is on track if you just lay a*ruler on the graph and draw a line straight out. It is on track if nothing goes wrong, but something is going very, very wrong. Of course I’m talking about corruption.

    Last week I wrote a column about the Chinese housing bubble. *When our own housing bubble collapsed, it sent a shock wave through our economy which is still creating after-shocks. China’s has yet to collapse, but inevitably will, and it is beyond the wisdom of this author to predict the long-term effects on China’s continued growth, and even stability, when it does. Let’s just say, “Not good,” and leave it at that.

    As you may recall from that column, the underlying structural cause of China’s housing bubble is rampant corruption at the local government ...




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  • #2
    Oh no! More corruption!

    What's next, Chicken Little?

    Watts Up With That? | The world's most viewed site on global warming and climate change.

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