Archive for Taipen Daily

Going Bankrupt?

Posted in Economics, Politics with tags , , , , , , , on May 9, 2011 by Ian Pham

Here is something that I hope many of you will find interesting.  There is word going around from some analysts, suggesting that the Communist Party of Vietnam is going bankrupt.  This is more than speculation, but since the Communist system is built upon nothing but lies, it is a very real possibility.  How can this be?  Isn’t Vietnam one of Asia’s second fastest growing economies, only behind China, with an annual GDP growth of 7-8%?  Maybe, but maybe not.

Let’s talk about China for a moment.  It is widely believed that the Chinese economy is one of the fastest growing economies in the world.  Strong GDP figures, healthy numbers on the Consumer Price Index (CPI), and so on.  But hold on a minute, how do we know that these figures are what the Chinese Communists say they are?  An article by Taipen Daily editor Justice Litle puts these figures directly into question.

According to Litle, many of China’s claims to economic growth are strongly exaggerated, even to the point of outright fabrication.  In his article, “China Has Reason to be Terrified” (February 25, 2011), Litle goes over the discrepancies in China’s statistics on economic growth, looking at the reasons why the numbers just don’t add up.  To further strengthen his argument, Litle quotes the words of a Li Kequiang, China’s prominent political insider, who refers to the statistical figures as “man-made” and “for references only.”  To summarize, it is possible that the stats for China’s economic growth, as released by Beijing, may be completely untrue.  Though we may not be able to prove it yet, the ferocity of China’s economic growth may be fabricated. Furthermore, it is possible that the country is more of a paper tiger than is generally perceived.

Let’s now look back at Communist Vietnam, who, to the chagrin of your’s truly, always seems to be following in Beijing’s footsteps.  Nowadays, it is believed that Vietnam is the new up-and-coming economy in Asia, with a strong annual growth and ever-increasing market strength.  This general perception, like that of China’s, may also be nothing but pure bull.  Not only is Vietnam’s economy not what its leaders claim it to be, but its condition may actually be worse.  Exponentially worse, as a matter of fact.  Unlike China, who may still have the investment and economic clout to sustain itself, the smaller economy of Vietnam might not even have enough money to keep its economy afloat for much longer.  As a matter of fact, many believe that Vietnam’s economy is set to collapse in the not-too-distant future, taking the Communists with it.

It seems that the Communist regime is not as sustainable as the fools hoped it would be.  Vietnam’s Communist dictators are starting to run out of steam, taking so much money out of the economy that the system itself is now in jeopardy.  Though it is not positively certain that the Communists are on their way out, one should still feel joy in the possibility that their impending collapse may happen very soon.  Vietnam is in need of a revolution, and this need grows steadily stronger with time.  Double digit inflation is plaguing the Vietnamese economy, and this new evidence of statistical fabrication only strengthens the possibility that the Communists are losing grip of their own system.  This may be the breaking point of the Communist regime.  It is obvious that they’ve pushed the people too far, but it seems that they are pushing the system to the limit as well.  It is only a matter of time now, Vietnam’s revolution may not be far away.