Discussion in 'The Economy' started by Tropo, 5th May, 2011.
China: simply the best?
Always good to hear a differing point of view, but FWIW I think that article is nonsense. The US patent system is just as bad - applications are barely examined, and all sorts of nonsense gets granted. The system has devolved to the point where its main function is as an official register of precedence dates, and the perception is to let people fight out the details down the track through the court system. They grant *anything*.
I think questioning the timbre of the Chinese economy may well be a worthwhile exercise, but IMO this particularly basis for doing so is *way* off base. The patent system is broken everywhere.
Here's an old article, but it's grown worse since then.
Boy takes swing at US patents - 17 April 2002 - New Scientist
China is a huge country and it is very easy to find some darkest spots and brightest ones. Anyone if use the darkest and brightest matters in China would mislead them in the market.
I really hope the doomsayers could scare the market herd into panic since I have finished my portfolio rebalanced and the panic could generate great opportunities in Australia market. If it happens it is a external shock like 911, it would temporarily drive the market to extremely low since now the market herd are in the mood to sell.
Seriously saying I don't believe China would stop consuming the resources since it just needs them; Australia is one of the least risky resource supply base in this world; how much Chinese companies have lost their shirts in Libya?; In the sense of speculation, I don't believe when the herd worries desperately, the economies crash would happen.
Market never work this way. All of crashes, if great enough, must be with the mania and exciting of the market herd!
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