Futurology blog: what’s the next trend that’ll disrupt our world, financially, socially or just pointlessly?

Friday, 13 March 2009

Wen Jiabao predicts economic recovery? Oh my.

Fascinating mix of threat, surrealism and desperation from Chinese premier Wen Jiabao in his press conference yesterday. Western criticism of the Chinese crackdown on Tibet will be met with ostracism, the fact that the Tibetans have become peaceful after being forcibly pacified means that brutality is “right” … and the USA must make darn sure that the Chinese accumulation of American debt doesn’t go up in smoke.

All a bit rich coming from some tyrant whose economy will be in the toilet by the end of the year, with or without US debt failure.

Sure, China’s GDP is (apparently) still on an upward slope, but it’s perfectly clear that the wheels under the economy have run out of anything to grip onto. Basically, China is in Evel Knievel mode: they’ve left the ramp, they’re still heading upwards, but the other side of the canyon is far, far away and the only hope is their star-spangled parachute.

But … the parachute is designed to burst into flames the moment it’s deployed.