Who is Hu and who is he to you
News, analysis and opinion
Chinese president Hu Jintao is visiting the United States. As the family is very important in China, the family name precedes the individual name; he is referred to as “President Hu”. The 65 year old Commander in Chief of China’s 1.3 billion people is a savvy political leader, and he’s come to the U.S. for a reason.
He’s here visiting the new country he bought.
Actually, China owns almost $8 Billion of long term credit and almost $850 billion in U.S. Treasury Securities; the amount jumps to a trillion dollars if Hong Kong investments are included. Some suggest the amount should be closer to $1.7 trillion.
Chinese “sovereign” investments also power Chinese companies to buy into American companies. And, China would like to own more of America. Unfortunately, lots of people want to stop them.
Oddly, many of those people are self confessed capitalists, but they don’t want China practicing capitalism here.
It isn’t clear what anti-China politicians are worried about, but one thing might be that China could dump American Treasury Securities and other loans. The dollar would be destablized; our economy might crash, at least temporarily.
It’s also possible they simply fear the inevitable influence of big money. It might eventually matter to us that the Chinese are displeased; they might move a factory to Mexico.
In the last year several telecommunications and technology deals with Chinese companies have been nixed by the U.S. government. They wouldn’t have stopped the same deals with a British company, some critics maintain.
President Hu is here to help turn that trend, some speculate.
Hu Jintao is the original American success story. Twenty years ago he was a bureaucrat in Guizhou, a poor rural province in southern China. He began to formulate a plan for economic development of a small ethnic minority village there. Building on his successes, he spread his influence throughout China’s political and social institutions.
Village in Guizhou, from here
Hu’s Ph.D. degree is in water conservancy engineering. He worked on several water projects and found himself as the secretary of a provincial construction committee. His progress from there was steadily upwards, through Guinzhou to the Chinese presidency.
Hu continues to provide leadership for change, and has regularized the idea that the party has a responsibility to the people. He skillfully used the SARS outbreak to implement new development ideas, many of which address the structural problems which encouraged the SARS outbreak.
Sierra County could use the kind of leadership the Communist Chinese president has provided for rural China, including an intensive focus on biomass energy production in rural China.
Would we complain if a Chinese company bought the cogen plant, dribbled a few million over it and tripled it’s capacity, creating a couple of hundred jobs and breathing some pink back into Loyalton’s cheeks? I wouldn’t.
They are also allowed to grow industrial hemp in China. Maybe when China buys Sierra County, we can grow hemp here.
Chinese for hemp