China Redux

Can’t resist the temptation: Told you so.

But it wasn’t just China that took a beating, as the WSJ’s Marketbeat points out. Every major market around the world dipped significantly at some point today. No question it demonstrates China’s growing importance to the global economy, both real and symbolic.

The market correction also showed the impact of weakening economic fundamentals in the US and elsewhere (see the drop in durable goods announced today, which didn’t help things). There’s no guarantee markets will rebound strong tomorrow. But if I had been planning to put some money to work in the US or Chinese markets, I would think that now would be as good a time as any to make an entrance. Not for the faint of heart, though.

I feel compelled to share and respond to Jeremiah’s impassioned post at Peking Duck, “Who Hates China” (and the fascinating comments chain that followed). I found the post especially poignant for the way it exposes a deep paradox of the China blogging community: the act of blogging is fundamentally an expression of freedom of speech, but the primary subject of China bloggers is a nation that greatly restricts that freedom. This is not merely a legal or political problem (although for some China bloggers it is undoubtedly so); it is a cultural one as well, and that’s where Jeremiah’s post really hits the mark:

It seems that whenever a foreign observer criticizes China too strongly, they are labeled as somebody who feels threatened by China’s rise and seeks to undermine or belittle the accomplishments of the last 25 years.

The kind of knee-jerk reaction described here is the cultural and intellectual by-product of a society that is unaccustomed to and/or unimpressed with full democratic freedoms. It can result in an inability to appreciate the nuances of complex views and emotions, and especially, to recognize and reconcile a multiplicity of opinions and perspectives. Jeremiah notes a special tendency for this kind of reactionary thinking with China; but it happens in mature democracies as well. The Bush Administration’s “if you criticize the Iraq war, you are unpatriotic and are helping Al-Qaeda win” foolish formulation is an example of what happens when a mature democracy is led by politicians who are deeply suspicious of participatory politics (especially the legislative branch) and pursue a royalist style of government. In the case of critiquing China, some folks just don’t want to leave room for certain views.

I, for one, don’t share many of Jeremiah’s opinions on China. But, while I don’t know Jeremiah personally, I feel confident that he would go to great lengths to enable thoughtful, respectful discourse on China, no matter what you or I may believe (again, check the comments on his post - the proof is in the pudding).

Nor would I peg him as a China hater or someone who feels “threatened by China’s rise”:

I criticize the Chinese government for the same reason I criticize the US government: because I do love the country and it hurts to see what is being done to it. If it pains me, a laowai, how much more should it hurt a self-proclaimed ‘Chinese patriot?

It can’t be said much better than that: China blogging as democratic discourse at its finest. Is there any higher calling?