China – Jun Bank Lending
12/07/2019 09:07 pm MYT
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Renminbi bank loans outstanding at the end of Jun were RMB145.97 trillion, up 13.0% from a year ago. New bank loans totalling RMB1.66 trillion were created in Jun, RMB178.6 bln less than a year ago – see figure 1. The banking system is providing sufficient liquidity to support the economy.

 

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After World War II, Western style democracy has been touted as the political system that every country should adopt. Countries that do not practice democracy are labelled as human rights abusers and dictatorial states. Their leaders are described as tyrants and corruptors. However, the success of China and the many problems that have emerged in the Western democracies have cast serious doubts on the supposed superiority of democracy. For democracy to work, it is assumed that citizens are able to make informed and rationale choices all the time. Not only is this assumption not realistic; also, the fact that more people support an idea does not make the idea the right one or the best.

In addition, human beings are easily influenced by emotional rhetoric and people tend to have herding behaviour. Politicians making remarks that promote hatred and exclusivity are dangerous because these remarks can turn into extreme actions that will totally destroy a country. For those who want to read more about the weakness of democracy, “Against Democracy” by professor Jason Brennan and “The China Model: Political Meritocracy and the Limits of Democracy” by professor Daniel Bell are strongly recommended.
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