Chinese Foreign Minister’s Wang Yi’s outburst during a press conference in Ottawa seems to resonate well with people at home.
Wang’s angry rebuke at the Canadian reporter and his aggressive remark over China’s economic achievements have earned appraises and applauses in China, and has garnered widespread acclaim as posts from supporters and upvoters have gone viral on the internet:
“They (the Western media) are very uncomfortable with rise and the growing power of China. They hate us trying to put us down and destroy us!”
“Mr. Wang Yi did a great job attacking the Western forces!”
“Wang Yi remarks are great! What he said has best represented our feelings and helped vent our anger towards the Westerners… If they are deaf, hopefully they have not lost their eye sight. They should come here to take a look at the modern China! We the Chinese people are enjoying affluent material life here and equal human rights! They will be stunned at our achievements, realizing what a powerful and a great country that China is!”
“In 25 years, China will surpass the US to become the number one global economic superpower!”
These ego-centric, self-glorifying and blind faithful comments represent a strong sense of nationalism in China. But nationalism is dangerous, fueling government arrogance and leading to prejudice and ignorance.
In fact, equal human rights do not exist in China – a country known for its abysmal human rights record, and is ranked 90th globally in human rights by the UN.
China is facing economic woes. With unstable growth rate, it has already fallen off its miracle growth trajectory, according to economists. While an autocratic government, facing no check on their powers, can lead the country on a decade long double digit growth, they can also veer off in the wrong direction with no one to set them straight, says Ruchir Sharma, an emerging market portfolio manager at Morgan Stanley.
China has cut its economic growth target for 2016 to between 6.5% and 7%, compared with 6.9% last year. The ratings agency Moody has lowered its outlook for government bonds from “stable” to “negative”. The steel and coal industry are experiencing massive layoffs, while real estate bubble looms. Exports –the leading sector in economic growth has shrunk sharply.
China also faces alarming debt crisis. China’s debt growth rate accelerated twice faster than that of the US before its bubble burst in 2008. The private debt held by local governments rose rapidly, slowing down the economic growth. Frenzied borrowing led to rapid rise of shadow banking, fueling real estate speculations. As a result, rows after rows of apartments erupted in ghost towns and small cities are borrowing to build futuristic museums, aquatic centers that exceed local demand.
The stock market crash had only added to the economic woes. The stock buying campaign launched by the government has only saw many unsophisticated market players – including those without a high school diploma – losing their shirts, further shaking an already rocky economy.
But it seems that China still hasn’t snapped back into the reality. Wang Yi’s controversy has only fuelled the nations’ blind faith on its unchecked government that has taken the country down a wrong path. Wake up Chinese people! It’s time to get a grip.
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