Monday, August 29, 2005

CHINA

China has always been a closed society. Only recently are they really allowing Western countries to set up companies there. Back in colonial times, China rarely traded with many countries, they would export their silk and art and tea but hardly ever imported anything. Great Britain was the main consumer of China's tea and silk, but they couldn't get China to purchase anything from them until the British introduced the Chinese to opium. The drug had long been used to stop diarrhea, but then the Chinese started using it recreationally. So much so that farmers and other tradesmen would rather get high on opium than to work their fields or produce goods. China finally went to war with Great Britain. Finally, in 1842, China and Great Britain signed the Treaty of Nanking. As a result, Britain took possession of Hong Kong, as well as several other ports.

So, now they are looking to buy, not only western media but even oil companies. For a country that had no need for good from the west, they have changed their tune.

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