Monday, June 11, 2012 Western remedies toxic to Asian economies

This is the Chinese view of the international economic situation. Rightardia likes to present diverse views because there is too much jingoism in the US media that the Us position is correct and other nations are wrong headed. 

A good example would be the health care debate. Conservatives have been demonizing the Canadian healthcare system which is rated more highly by the World Health Organization than the US system. 

Now, the US State Department is even talking about allowing Us propaganda like the Voice of America to be broadcast to Americans. 


Because international media like Russia Today and al Jazeera are doing  fine journalistic jobs and Americans now have a broad choice for information. 

Often news from international sources challenges Us exceptionalism. That makes some politicians tremble!

"From the time it was set up nearly 70 years ago, the International Monetary Fund has been controlled by Western Europe in partnership with the United States. Even today, long after Asia has overtaken all other continents as the global engine of growth, its focus remains Europe.

The present Managing Director, Christine Lagarde, is trying to persuade Asian economies to surrender the savings of their peoples so that the IMF can continue to funnel the bulk of its funds into Europe, despite the risk of bankruptcy if Greece leaves the eurozone, to be followed by Spain, Portugal and Ireland and possibly Italy and France.

Even though the Western countries were bad global citizens and created the conditions that led to the 2008 financial crash, they will not admit their fault and are not prepared to suffer the pain resulting from their actions. Instead, they seek to make the poorer economies, such as China, India and Brazil, suffer.

Until Brazil and other South American countries understood the folly of accepting advice from the IMF and the World Bank, they suffered immense economic hardships from the 1970s onwards as a result of implementing the wrong economic policies. The prescriptions of the IMF and the World Bank were geared towards the benefit of Western Europe, North America and Australia."

See the rest of the article: Western remedies toxic to Asian economies|Top News|

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