Comments by "Elizabeth Loveland" (@Shineon83) on "China Update"
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….Millions of young, predominately male, university grads….Each one, the product of parents (and often grandparents) who scrimped, saved & worked ungodly hours, in order to provide “their” student with the opportunity to attend the best university — and, in turn, be guaranteed a steady, well-remunerated job…..(At least, that WAS the unwritten “guarantee” the Chinese had with The System : “The entire family sacrifices for eventual reward”) ”….
….But now, after fulfilling “their end” of a long bargain, the Chinese are increasingly seeing (in so many areas) The “State” not upholding their own end….Whether it’s reducing the promised pensions of seniors ; handing out increasing numbers of arbitrary “fines” to citizens, in order to pad empty coffers ; real estate co.s that do not complete the construction of homes that owners already have mortgages on ; or banks (many, government-owned) that are freezing depositors’ assets—or putting low “withdrawal limits” in place ….the Chinese feel that the “Contract” they once had, has broken down….
….The Million Dollar Question now is : Will 75 years of CCP indoctrination, or the constant blaming of “world events” to explain China’s economic predicament (along with a Confucius culture, that teaches one to “accept one’s place” & to “honour one’s leaders”) be “enough” to override the very natural indignation & fury that Chinese feel? …..Fasten your seatbelts…
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