Prospects - Friday, 18 January, 2008
- 18 Jan 08, 10:25 AM
Today's programme producer is Robert Morgan. Here's his early email to the production team.
Good morning everyone,
There are a few good stories around today. Gordon Brown has used the start of a visit to Beijing to declare that he wants to see a doubling of trade between Britain and China in two years. The Prime Minister said closer co-operation between the two countries could create tens of thousands of jobs for British workers. China currently has a lot of cash to invest abroad.
Meanwhile in the US, President Bush will speak about his economic stimulus package that includes "short-term, temporary measures" to boost an economy buffeted by housing and credit woes. Yesterday Wall Street dropped a massive 300 points over fears of a recession.
Is this a crucial moment in the growing economic power of China? Could we combine both stories? We also have a pre-recorded interview with Senator Chuck Hagel set for this afternoon. Could we add this to the sequence?
Heathrow
Let's pursue new lines on this story. The preliminary report is out tomorrow. Susan Watts is on the case.
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"Heathrow
Let's pursue new lines on this story. The preliminary report is out tomorrow."
No, lets not.
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In my youth the Chinese were always said to be inscrutable (cannot be penetrated-Oxf Dictionary)
Whereas it is always fashionable to knock Brown and the decline of British industry, let us hope he has some success in whatever area to benefit us all.
However, I suspect the Chineses will do what they always have done, look to their own interest and rather invest over here will probably be able to buy out whatever is left of our industrial and commercial base and move it to China or wherever makes the biggest buck.
This country had better wake up as we are losing all our industrial skills when we rely on the French/Germans to build our Nuclear stations (we were once leaders) and we have to import outdated Railway engines from America when we had the best in the world, just to mention two areas. Aircraft will soon go the same way.
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The Chinese may be looking for somewhere to invest the cash they're going to have when they liquidate all the US debt they are holding.
I wonder what madness would make them consider buying UK debt as a substitute?
Dream on, Broon!
Salaam/Shalom/Shanthi/Dorood/Peace
Namaste -ed
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Many commentators seem to think the Prime Minister will waste his time in China insulting Chinese hospitality by nagging them about human rights. Or perhaps the press pack will do it on his behalf. If there's any truth in these rumours then the Chinese would be perfectly justified in refusing to do business with the UK then biding their time to get their own back later.
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Can anyone possibly be serious that there is any real prospect of 'success' for Brown's mission to China? What does he imagine that he can possibly offer the Chinese?
Economically the country is in meltdown and hopelessly in debt. Brown offers nothing here except recycled chanting of his manipulated figures and chuntering 'these problems,which started in America', before every mention of the credit crunch. Politically, Brown is a busted flush, universally dismissed as hopeless or worse. To his right, is Cameron who is consistently wiping the floor with him in the polls and he's not even a tory; he will have a consistently well-supported Lib-Dem outfit to his left, now with a leader likely to provide a consistent threat. And the last local by_election, saw the BNP take 28% of the vote, making nonsense of the polls published in the press, and which Brown's Govt won't be able to suppress for much longer. And personally, the Chinese will find Brown to be a socially inadequate collection of nervous hang-ups,desperate slumps in mood, and hilarious fruity smiles. I'm sure the Chinese leadership will manage to totally ignore the pompous attempts at internation leadership Brown will doubtless treat us all to, as he leads himself, his party, and the country to disaster.
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Dear Newsnight
I'm not sure how the huge deficit America runs with China plays out.
if the money is invested in the US, in the dollar etc what happens if China withdraws it, or uses it to pressure America
America might default
what happens then?
How would China respond to this?
best wishes
Bob
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