What Am I

Chinese foreign exchange reserves stand at $3.65 trillion. US foreign exchange reserves stand at $113 bn! Chinese debt stands at ~$5.2 trillion. US debt is ~$18.3 trillion! Yet, China choses to devalue its currency by more than 2% w.r.t USD! The devaluation raises some questions. The WTO norms seek for gradual removal of subsidies and also the other economic barriers surrounding any trade between nations. But isn’t the currency devaluation a form of subsidy being extended by the Chinese Govt. to its industries. Subsidies are generally extended in the form of tax exemptions, lower credit or moratorium periods or relaxed accounting guidelines. But an exchange based subsidy (Currency manipulation subsidy) is something that the Chinese Govt. is exploring, if not the first time, to its full potential. Why Can’t other countries chose to do so. Because most of the other countries have a mix of imports and exports and by de-valuating their currencies th...

An engineering marvel is created. Well thought about, well planned, well designed, well executed...well??? It cost $24 bn to build the World’s largest Hydro power project - The Three Gorges Dam by China. It was completed well before the schedule. It provides 18400 MW of electricity which is unfathomable by many other Hydro power projects. Its back waters created a reservoir of water which is as big as UK in length. Now, the flip side..It displaced half a million population and thounsads of towns. The weight of the water stored in the reservoir is only adding to the woes of the land slides, tremors in and around the area. The river is getting more and more polluted since the 1.3 mile long concrete barrier diverted the migration of fish which otherwise would have preserved the sanctity of water in the river. Topping the charts are the facts that Central China, where the project is located is reeling under 50 year drought and that two of Southern China’s largest lakes have almost dried...