Well, the WTO promise is fulfilled: foreign banks get to do business in China. I had to laugh, though, for there is but one thing these banks want and that is to get people to use their credit cards. What a foolish idea! But, then, Americans don't seem to be too bright, especially when it comes to other's culture.

The Chinese are a savings minded people; they do not operate on a debt economy. They have ample proof that such a life style is a killer: the US is owned by China because of the US debt. The US has no money, not even for its own people.

There are no bankruptcy laws to bolster up the US when the time comes--and it will. So. . .as is usual business with the WTO, they are going to ruin this country, reap huge profits and then. . .do more damage. As has happened everywhere else in the world that they've gotten their bound feet into, their Midas fingers into. 

CITICORP is already here. CITICORP that makes a practice of screwing the working class and poor and the "lesser" races in America Land of the Free, exacting promisory notes that are impossible to comply with or close. CITICORP that supports anti-green, anti-environmental, pro-oil, pro-war profiteering. As I recall, CITICORP still has pending legislation against it for its shady business dealings.

But, forgive me, how stupid is China? They had 50 yrs to watch America and rampant capitalism, they had 50 yrs to heed the mistakes and faulty judgments of a debtor economy run by greed and what happens when the more moderate--take that with a ton bag of salt, please--gov't comes into power? China imports everything without discriminating, all the good and all the bad. Especially, it seems, the bad; for the Chinese gov't officials and businessmen, often the same (kind of like incest), are greedy. No different from any other businessman or gov't. Greedy and to hell with the people, though here there are more people than enough to fill in for those who drop by the wayside.

Y'know. . .there's a Chinese adage, I think attributed to Confucius, about learning from your travelling companions, especiall the one who makes mistakes. Yes, folks, even the Chinese with their vaulted 5000 yr history cannot learn from their past.

However, and I can see the US--er, sorry, WTO people smiling their cynical, superior smiles. . .however, just because the US banks (in the main) will be doing business in China does not mean they will be invited into the inner circle of Chinese economics; they will not be part of the secrets and the deliberations on banking/investment/development policies. Although they may know before the homebodies when China buys Euros--which it's been doing for the past 2+ years--even that knowledge will be too late for them to save their home country, which, of course, they've sold off anyway. Unlike King Midas, these WTO-US money grubbers couldn't give a damn if their daughter turns to gold when they touch her: they'll just sell her, manipulating the gold market to get the best deal.

Nor will they be able to put more pressure on China to un-protect its currency. Protected currency is what kept China afloat while Japan, Korea, et al. sunk when the Japanese bottomed out. Opening up Chinese currency to the work market means making it available to outside (read US) manipulation, at which point it will be devalued to virtual worthlessness. Aside from making cheap labor more cheap, it will effectively minimize if not eliminat the US debt: a few hundred billion when the RMB is worth, say, 1/10 of 1/100 of a dollar is tolerable. Cheaper labor means, of course, more gold. . .and more raping of the already heavily abused and lied to US public.

This, this banking coo (heh-heh) of getting into China, comes right when Iraq is a losing proposition, a lost cause. Now, they have another place to wreak obscene profits. Americans, though, carry their culture with them; they are unable to let it go and adapt, feeling they are superior. When Americans do this, the get to complain heartily, engaging in psychological projection by blaming the Chinese, their hosts, for not doing things "right." Well, duh, my good man!

Let us sit back and watch these foreign US banks screw themselves in their arrogance. At least, such is my hope; for if they ruin this country, I don't know where I'll go to garner a living, a life. These banks and bankers need to fail--and the need to fail BIG--for people, gov'ts and economists to gain insight and become--heaven forfend?--humanitarian in their dealings. After all, we the public give them the money to do their dastardly deeds. Us. Without our money they are nothing.

Hey! US bankman, WTO buddy, can you spare a dime?

Jimsecor is a freelance writer who has travelled extensively overseas, especially Japan and China. He has published in all genre and produced several plays over the years and has taught theatre, writing and literature.

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