Posted 5 years ago on June 14, 2012, 12:30 a.m. EST by arturo
from Shanghai, Shanghai
This content is user submitted and not an official statement
Having been away from China for about three years, I was amazed by the economic development that has occurred since I've been gone. The entire neighborhoods made up of thirty story tall apartment complexes, with sleek wood and marble interiors were impressive, as are the similarly tasteful seven story shopping malls.
However, its the developments in public transportation that I appreciate the most. These includes the super modern subway routes that increasingly link all parts of the city, as well as the fast train routes between cities that literally distribute the wealth throughout China.
The mood of the people has improved as well. In the past, I frequently felt the resentment of the locals as I walked the streets of Guangzhou, but these days, people seem too happy with their own lives to feel much resentment for foreigners. The spirit of growth gets inside of you here, instilling feelings of optimism for the future.
I know there are still bad things that happen in China, but for the most part the good things are increasing and driving out the bad. This is the way we used to do it in America, public investments in infrastructure, supported by the development of manufacturing capacity to fill both public and private needs.
If we were to restart this process in America, first through Glass Steagall, followed by the establishment of a national banking system and a New Deal style recovery, we could dramatically reduce our trade deficit with China, by exporting to them the high tech goods they still need to develop their infrastructure in the many poor areas that still exist here. That was FDR's plan after WW2, which was ruined by Truman.
What are we waiting for? Let's start growing again!