Friday, July 21, 2023

Stone for the Party.

"As a push to 'sinicize' religion, the Chinese Communist Party (CCP) has embarked on a 10-year project to rewrite the Bible and other religious texts." Fox. In the Gospel of John, Jesus saves a woman accused of adultery by saying "let the one among you who is guiltless be the first to throw a stone at her." In the Chinese version, Jesus is the first to throw a stone at the woman for challenging the authority of the state. If the Communist Party actually makes Jesus stone the woman it will be supporting the Islamic practice of stoning to death of married people accused of adultery. wikipedia. "In a secret 2018 negotiation, the Vatican agreed to allow the CCP to select the Catholic bishops in China in exchange for vague assurances of 'safety' for some Catholic congregations which were immediately abrogated." Will this create enough jobs for the youth? "An unusually public claim by a Chinese professor that the country's youth unemployment rate might have hit close to 50% in March has revived a debate about official statistics and focused attention on a weak labor market." ET. "Grueling work hours and a dismal job market are forcing young Chinese to make unusual choices." BBC. "In recent weeks, Chinese social media has been flooded with atypical graduation photographs," which show "young people 'lying flat' in graduation gowns, faces covered with mortarboards; others show them holding their graduation certificates above dustbins, ready to bin them." "China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich." Reuters. "Policymakers hoped to narrow China's development gap with the United States." But its growth rate is expected to slow to 3-4%. "When Japan began to stagnate in the 1990s, it had already exceeded the average GDP per capita of high income countries and was nearing US levels. China, however, is only just above the middle-income point." To become a developed country, China's economy has to grow at around 5%. "But underlying trends - bad demographics, heavy debt and declining productivity growth - suggest the country's overall growth potential is only half that rate," wrote Ruchir Sharma. What about India? "Whether one is a developed country or not is a matter of definition," wrote economist Surjit Singh Bhalla. "Income must be measured in constant per capita PPP (purchasing power parity)." "In 2021-22, India's per capita income was PPP $6,067, about a third of a developed country's level of PPP $18,000. The 'target' per capita growth rate for India to achieve over the next 26 years is 4.1% per annum." And, bingo! India will be a developed country by 2047, the centenary year of Independence. "First came the news of the mysterious death of a senior officer of the PLA Rocket Force and then the disappearance of the same unit's commander." India Today. "Speculation intensified with the disappearance from public view of Chinese foreign minister Qin Gang around the same time, and many sought to draw connections between Qin Gang's disappearance and the turbulence within the PLA Rocket Force." So, there we are. China stuck, India zooming. Rocket.

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