2008 economic crisis, alert people with the dangerous of un-controlled economics development, and the destructive of over credit to the world. literary , only US, UE and majority western country fall down, the world hope the China standing still, weathering the storm while celebrate the 30 year annivery of reformation. However, do China economic strong enough? i don't think so, although the China posses highest reserve in the world, but take consider the demand and the purchasing power of the chinese, i don't think they would consume all manufactutor of other country, so in the end, we has our own.
the leftist comment this is consequence of the capitalism, and speculate the drop of the socialism. socialism is percept an only remedy for the world, and reformation is concurrence. i am agree in few context of socialism, Karl Marx, emphasized the important in fair wealth distribution , a neccesay of power concentrated govement in deciding and running national affairs. however, i am insist that people's right to pursuit wealth should not be denied. Yeah, we know the fair in distributing the resourse to the social and averaging the wealth.
the Wealt of Nation state, the mportant of goverment alienated from the market, market value of good only decide by an unseen hand. compititives among the manufacturator would provide high quality and low price benefit th consumers.Adam Smith didn't expect the obligation of consumer may one day bitted by the MOnopoly.
Modern economics taking intangible product as main stream to boot the development, creat share market and oppotunitist, a risk undernealth or saluted by it. the fist crisis occured in 1920 create Great Depression.
And now we re facing a crisis that speculated may worsen that any others. At moment, Malaysian still feelling slim of it, however the reccesion at next year is the truth color of this storm , re we malaysian really prepare to it