Blown away...

"CHINA’S political elite has been shaken by a lurid new scandal over the death of a senior official's son who crashed his Ferrari during what appeared to be a sex session with two women." (story here).

So, that kind of speaks for itself, doesn't it. All the analysis of the whispers from the corridors of the Chinese government are neither here nor there. It is symptomatic of a sort of decadence within the second generation ruling elite, the ones with privilege gifted them. (It also shows how the accoutrements of wealth, including almost ritual sexual performances and prestige objects (like Ferraris) are now in available to the elite). For the ruling party, of course, it is the symbolism that matters, if only a handful of their number are so debauched, they will come to stand is as a metonym for the whole.

Brown trousers time

According to the BBC: Chinese growth is falling. Now, you might say, wow, 7.6% growth (however much of that is real), but China has been growing much faster than that recently. Given it's scale, its importance to the world economy, China doesn't actually have to go into recession in order to cause a great deal of damage. Here's former Aussie PM Kevin Rudd explaining why. Couple this with warning squeaks from Germany and we may be seeing the world crisis move into a new phase: first the shock, then the slow down. Bob alone help us if China goes into negative growth (or, such negative growth that it can't massage the stats to look positive). I have my tins of beans and sacks of porridge ready.

Babeling

I've been waiting for something truly shiny to bring me back to the keyboard. Try this for size:

Main specification of SKY CITY ONE (PDF)

Building area: 1,610,000 m2 (Plot ratio: 50)

Land area: 32,400m2 (180×180)

Building storey: 200

Total height: 666m

Earthquake resistance level: Level 9 ①

Construction material: Approx. 400 kg/m2 ②

Energy consumption: 90kWh/m2a ③

Indoor air ventilation: 100% fresh air, 99% purification, ventilation frequency 5-10 times/h in occupancy

Fabrication term: 4months for fabrication, 2 months for installation

Occupancy capacity: Rated 70,000 people, Maximum 100,000 people

That's right, a building 666(!) Metres high to house 70,000. That's roughly the population of my home town. Put another way, you could house the entire UK population in just 1,000 of these things. That certainly points towards a rewilding prospect, which would have carbon absorbtion benefits. That said, I hope there is good noise insulation.

But, note the hierarchy built into it's plan, expensive rich apartments at the top, plebs below. Ideology in concrete, despite it's claim that "World’s top ten highest skyscrapers are built only for the rich. SKY CITY is shared by the rich and the common."

They are, apparently, seriously proposing to have this thing up in two months. Although, I note from this report" The Chinese authorities have yet to give the go-ahead. Still, a fascinating concept.

About those tins of beans...

...I think I'd add a tin helmet to the shopping list. My favourite source, Der Spiegel strikes again:

This October was the third straight month Chinese exports decreased. Along with it, the hopes of German manufacturers that Asia's growth market might help lift them out of the global crisis as it did in 2008 are also evaporating. This time China faces enormous challenges of its own -- a real estate market bubble and local government debt -- that could even pose a risk to the global economy.

The Germans can't borrow, and Chinese growth is about to hit the skids. *Gulp*

It's worth reading that article in full. In world terms, this is the crisis spreading from the financial sector into the real economy of manufacturing: coupled with a massive balance of trade gap. Remember, China holds much of the dollar debt in the world, and it has been China that has helped prop up the debt bubble in America in order to keep its markets going.

I also note the mention of the ghost cities -- so reminiscent of Ireland's boom/slump situation (and, I believe consistent with David Harvey's model of capitalist crisis).

Part of what this shows is that even state capitalism and pump priming isn't enough to end the crisis: we've seen austerity here and spending for growth there, eventually, someone has to admit that a market economy just doesn't work for the majority of humanity. In the meantime, get tying kitchen knives to broomsticks and start a pike practice squad in your street:you may be needing it soon.

It's warrrrrrrrrrr!! And we're all gonna die! pt. 2

Aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaargh!!!!!! Chinese space commies have shot down an old satellite. Not sending any messages to the US there then, are they "We can knock out your satellite systems, gner gner gneh gner gner!"

"But China stresses that it has consistently advocated the peaceful development of outer space and it opposes the arming of space and military competition in space," he told a news conference.

"China has never, and will never, participate in any form of space arms race."

I'm so glad they would never publicly and ostentatiously develop weapons to challenge their political and strategic rvals - that would make me feel worried if they did.

So, that's the news today - Queer Chinese Commies from Space are going to steal your babies and send them into orbit with the help of Bushitler Bliar.

Sleep well, don't have nightmares.