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Offline: China has become more dangerous than ever

I may hate the current leadership of China, most especially Xi Jinping, but I must also admit to having a fascination with the country that went from Third World some four decades ago to the world’s second largest economy today.

This resulted in a country with tens of thousands of millionaires and hundreds of millions of families attaining middle class status.

Now, however, China is in the midst of what looks like a recession, possibly leading to a full-blown depression in the foreseeable future.

After ignoring the obvious problems that had surfaced in the aftermath of the COVID-19 pandemic, when millions of small, medium, and now very large companies shut down resulting in countless workers rendered jobless, the Chinese Communist Party is planning on taking remedial measures, which are not likely to work.

Excuse me if I seem as if I’m gloating. Rest assured that I’m not. I used to believe that all Chinese were the enemy, and they should be banned from even entering the Philippines.

In fact, millions upon millions of them are suffering economically. Those who owned businesses are losing their investments because the economy is down and nobody is buying their goods or availing of their services.

Incidentally, I know that when I speak of “millions” of Chinese, I am not exaggerating. With a population in excess of one billion, no one should be surprised to learn that tens of millions are currently jobless, more than a million restaurants and similar businesses have closed shop, and hundreds of millions face the very real prospect of starving.

There are countless videos on YouTube showing the true picture of what is happening in Xi’s China.

It is now possible to think the unthinkable. The beginnings of what may be a Chinese People Power revolt is in the offing.

Millions  — there’s that word again  — of Chinese bank depositors have been told that they may not withdraw their own money beyond a certain limit.

Millions of workers have not received their full pay for more than a year now.

The communist government denies all of the grim news, of course. At most, they say that there are problems but nothing that they can’t handle.

A few weeks ago, China released what they claim to be accurate data on their first quarter, which surprisingly grew by middle single digits.

Various economists and academicians, however, scoffed at the figures which they consider doctored.

Tangible signs say that the economy is headed for a big fall, and among the solutions being considered is something no economist would dare consider, which is to simply print more and more yuan.

The central government would also salvage the collapsing real estate industry by rescuing the big players, all of whom are trillions of yuan in debt.

Incidentally, Chinese consumers who purchased real property akin to our condominiums are in the worst straits for the simple reason that they cannot run after errant developers. Not only did they pay large down payments, which is the norm everywhere, but when construction slows down or even stops, they are still legally obligated to continue paying their amortizations.

Whoever thought up this scheme some three decades ago clearly had little appreciation of the rights of buyers. Again, there are numerous videos on YouTube showing a brewing anger among property buyers, workers with unpaid salaries, and young Chinese just giving up and lying in beds, sofas, park benches, or sidewalks.

Until the government stopped releasing employment figures this year, the youth unemployment had reportedly hit 20 percent.

It’s gotten so bad that college graduates are only able to land jobs in the food delivery business, where they work long hours to earn a pittance.

Once called the world’s manufacturer, China’s exports have slipped even as local consumption has likewise headed south.

What had once been considered a possible savior, the manufacture of electric vehicles, is also facing serious issues, not only in terms of quality but also because of an ongoing trade war with the US, and soon possibly the EU.

Very recently, President Joe Biden approved a 100 percent tariff on Chinese e-vehicles. This will almost certainly cripple the industry, which unbelievably has hundreds of manufacturers. Their cars will retail at double the prices of e-vehicles made by Japan and Europe. So why would anyone buy a Chinese made e-vehicle of dubious quality and bloated prices?

It is no exaggeration to say that the Chinese economy is in dire straits now and has an even bleaker future.

The majority of Chinese are, therefore, both angry and frustrated at what has become of the Chinese dream.

All this can force Xi to take action that everyone will regret. He may go so far as to declare war in order to unite his people.

Should this catastrophe take place, the death toll will be unthinkable. It will be, and here I go again, in the millions. And Guess what? A good number will be Filipinos, since the Philippines will be the next target of attack and invasion after Taiwan.

Pseudo-nationalists will blame the presence of US forces in the Philippines, but I look at it another way. Without the US forces, the Philippines becomes an even easier target.

No one can believe that the Armed Forces of the Philippines can put up even a semblance of a fight should the People’s Liberation Army land in the country.

There may be a guerilla war to be waged by able-bodied Filipino men and women of all ages, but what will they fight with? The majority will only have side arms, maybe even Danao-made paltiks.

Let there be no doubt. A desperate China is a dangerous China.

Unless there is a sudden change of leadership, hostilities will be inevitable, and the Philippines will be the biggest victim. The aggression Filipino fishermen and the Philippine Coast Guard has been experiencing in recent years is nothing compared to what would-be warlord Xi Jinping will do to save his hide.

Sadly, the Philippines has become more vulnerable to invasion today because of a certain ex-president Duterte, who willingly sold his country down the drain.

What favors he got in exchange for being Xi’s stooge is anybody’s guess.

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