Not a Review

Just finished reading Michael Lewis’s Boomerang, a book about the aftermath of the economic crysis based on the author’s trips to Iceland, Greek, Ireland, Germany and… California. Just like many of Michael’s books before this one, it’s a very interesting read. There’s a very nice balance between jokes and serious materials. (That will be around one joke every two paragraphs.) All the statistics are explained in a non-intimidating way, so that I can pretend that I understand a little bit what actually happened.

Now looking back at China, I suddenly felt a sense of uneasiness.

- Big government, high salary and benefit for public servants, just like Greek. Check.
- Booming investment banking industry and over borrowing, just like Iceland. Check.
- Hot money and tons of real estate that no one affords or is willing to buy, just like Ireland. Check.
- People blindly following status quo of rules and afraid of changes, just like Germany. Check.
- Stalling legistration and slow to react policies, just like California. Check.

On the top of it, as our government and statistics are actually not trustworthy, the whole thing may have already been worse than it appears to be now. (Although you can say that on the bright side, we have a dictating government that can just collect more tax and solve all the problems without hearing people complain…)

Now just wait until the snakes bite ourselves.