Wednesday, September 17, 2014

A guest is divine. Even one who comes conquer?

' Atithi devo bhava '. The literal meaning of that Sanskrit phrase would be that a guest is God. For Hindus it means that we should open our home to a guest, give him food and water and a place to rest. It is this prehistoric philosophy which led to India being ruled by the Moguls for 400 years and the British for 200 years, millions being converted by force and Hindus clinging on for survival, assailed on every side. It is now the turn of the Chinese, as President Xi Jinping visits India. Even as there will be lots of photo ops, dinners and hot gas we should not forget that China is a nation of uncivilised barbarians which is  virtually at war with all of its neighbors. It claims the entire south China Sea as its territory and its ships deliberately rammed and sunk Vietnamese boats off the coast of Vietnam. China has warned our oil company ONGC against any oil exploration in Vietnamese waters. It is converting reefs well inside Philippines territory into islands and then claiming them as its land. It has a long running dispute with Japan regarding ownership of the Senkaku islands. Chinese fishermen stabbed a South Korean coastguard to death while another Chinese boat rammed the coastguard vessel in 2011. While its behavior is exceedingly nasty towards peaceful, friendly nations it is charming towards the most despicable brutal states, such as North Korea, the Kim prison camp, the Khmer Rouge, who murdered more than a million Cambodians, and, of course, our neighbor, Pakistan, the epicenter of all terrorism in the world today. It is true that the Communist Party has engineered the greatest economic growth in history which has propelled the country to the second wealthiest in the world. Its insatiable demand for commodities has driven up prices and improved the economies of many countries. Cheap goods manufactured by massive Chinese factories have kept prices low, allowing poor people the pleasure of owning consumer goods, such as mobile phones and televisions, for the first time. But at what cost? US trade deficit with China was over $318 billion last year and has already crossed $186 billion this year. China keeps its goods cheap by controlling the exchange rate of the renminbi against the dollar by buying dollars and US government securities. This combination of low inflation and increased money supply has depressed interest rates in western countries and resulted in an explosion of public and private debt. Is there anyway of stopping this monster? Perhaps its destruction will come from its success. Already Chinese workers are being attacked in African countries where China has invested billions. Or maybe it will fall into its own ' black jails '. China's fall is fervently to be hoped for.

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