On watching James Fallows’ interview he gave to Harry Kreisler of the University of California in September 2008, I realised how the economy of China is so closely linked to the US. China is caught in a jam with the present financial crisis as the Chinese wealth and reserves are invested in the US. China is locked in and can only bear the brunt.

I also liked and fully subscribed to James Fallows’ views, who is of opinion that the Chinese are completely different in mentality in comparison to Japanese. Chinese are more individualistic. The former will not toe the line blind folded as would the Japanese.

James is an accomplished journalist and author. It was very interesting to hear the opinion of an American who was an advisor of Jimmy Carter, and now living in China, giving his views on China.

I knew that the US were overspending and could do so, mainly because China and other countries were having their reserves kept in US in dollars and US securities. The reckoning is now here, yet countries like China just cannot get out of the system without hurting themselves. Moving away from the US will cause further drop of the securities and result in higher losses.

The explanation of James Fallows was expressed in a clear and plain understandable language. I was immediately prompted to read more from James Fallows. His latest comments on the position of China, Iran written on the 22 June is very interesting. Truly, since the last couple of days watching the world news, I have to admit that somehow, the western media is framing our mind on the present Iran situation. Should we not take the Chinese stance on this issue instead of interfering in their domestic cooking?

James Fallows article in the Atlantic Monthly: Iran in China

“It is worth remembering that the elements of the Iranian story that give it such drama and importance in much of the world are less automatically resonant in China.”