Well it didn’t take long for the wingnut right to blend into the moonbat left over here. The very term Ex-republican has become a cliche on the web for trolls manufactured by koss kiddies and DU.

Mr Murphy saying that the economy in OZ is becoming dependent on China is to acknowledge that there might be a problem. The problem is the nature of the regime and the long term implications for the stability of the west and our shared civilization. No one wants war or an implosion of China. The fact is that much of the growth of China may be a bubble and much may be a matter of false accounting. The system is deeply corrupt. Numbers that are reported are much less reliable than those in the west. Enron was an aberration in the west, not the normal way business was done.

Technically China fits the definition of a corporatist fascist state. Most strategic investments are made by front companies that are owned by the army and used to channel funds to the children of a party oligarchy. This system is very unstable and is sustained by access to external raw materials and capital investment. This is the flip side of the problem of the Russian economy being sustained by artificially high oil prices. Eventually the wheels may come off this contraption. Hopefully by then the veneer of an educated modern elite that is developing in the coastal cities will have put down roots deep enough to permit a soft landing.