"Communist" China???

[Beaker]

money being loaned out with accrueing interest?
what part of mao's little red book covers this?

http://news.yahoo.com/news?tmpl=story2&cid=509&u=/ap/20040204/ap_on_bi_ge/china_citibank_1&printer=1

Citibank Launches Credit Card for Chinese

SHANGHAI, China - For the first time, Chinese who travel overseas will be able to carry a foreign-branded credit card that they can use at both ends of the trip.



Citibank joined local partner Shanghai Pudong Development Bank on Wednesday in launching the nation's first foreign-labeled credit card for use at home and abroad. The card can be used at any retailer that takes Visa.

Chinese consumers are just beginning to awaken to the possibilities of paying with plastic, and foreign banks view the nascent credit card industry as a potential gold mine.

"We have very, very big plans for China," said Charles O. Prince, chief executive officer of Citigroup, a New York-based financial services company that owns Citibank...

[GreenPartyVoter]

1. Capitalist dictatorship, more like

[Pillowbiter]

2. Yes, unfortunately there have not been that many actual communist

countries. Frequently they just use it in name but in practice it is a dictatorship.

The current administration with their spreading of "democracy" is another example of something used in name but not practice.

PB

[NewJeffCT]

3. being married to a woman originally from mainland China

and having all her blood relatives still there, I know that it will take a lot to break the Chinese of their frugal savings ways - so, don't expect to see a lot of Chinese running out and running up debt on their credit cards and paying Citibank 19% interest...

[denverbill]

4. Amazing, isn't it?

We hate commie dictatorships (USSR, China, Cuba) but we love fascist right-wing capitalist dictatorships (Iran, South Vietnam, Panama, El Salvador, China).

[Old and In the Way]

8. Don't forget Taiwan in the Faschist-Military Capitalist category.

The state religion of China seems to be capitalism and everyone is into making an RMB. Mao would be amazed at the changes in the country he left....talk about repudiation.

Kind of ironic that we spent the 50s/60s/70s fighting the communist menace. We won, now we are reaping the benefits of free market capitalism in those countries. Maybe we should have left well enough alone?

[ronnykmarshall]

5. Mao is spinning in his grave!

And you can see him do it too!

But forget your VISA card. Because at Mao's Tomb, they don't take American Express.



VISA: The Official Credit Card of Mao's Tomb

[ronnykmarshall]

6. Peking? Beijng?

Why was the city's name changed and when?

[NewJeffCT]

7. Not exactly sure when

I think it was along when they simplified Chinese in the 50s & 60s and formalized 'Beijing dialect Mandarin', they also improved the translations to written English... it just took a little while to make it in to the US media and educational systems.