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reply to post by PlanetXisHERE
Unfortunately, you have bought the hype. Real economists and political scientists consider China's rapid growth to be a bubble that will eventually burst. Did you know China actually has huge empty cities, built to create a real estate and building boom but serving no actual function?
reply to post by McGinty
Sorry if this has been asked, but since in my humble opinion you seem to be talking sense i wanted to ask what you thought might become of other currencies if the $ loses it's charm; such as the Euro, Sterling and the Aus $ ?
reply to post by angelchemuel
.then you can bet your bottom dollar banks. politicians and corporations can also see what is coming.
The US has had it share of bubbles and bursts and has survived just as China will, no bursting bubble ever derailed the US economy permanently.........well the jury is still out on the last one.
No, I didn't buy anything. I guess I'm just not xenophobic enough and can deduce given the growth rates of the most populous planet on the earth with an industrious and educated workforce vs a stagnant has-been that the country that has held the top economic spot on the planet for much of the past 3 millennia will reclaim it soon. Just forget your patriotism and try to be objective.
China's ghost cities, built not in close proximity to any population centers, but HUNDREDS of miles from the nearest population centers, OBVIOUSLY have nothing to do with economic speculation. These Chinese seem to have some kind of info on some sort of world calamity, for these cities could house tens of millions of people. Do you have any idea what they know about?
reply to post by Xcathdra
The problem with that announcement is they would be taking over a trillion dollars of US debt holdings and flushing them down the toilet.. Again something that would be detrimental to their economy.
In comparison I believe if we saw a major collapse in major countries, I think the US would be one that would survive
For China I see their citizens rising up and going after the government.
The prediction of the Us dollar taking a hit when Russia and China agreed to use local currency for trade between their countries turned out to be not a major issue at all.
I don't think their economy could adapt to that disaster.
occurred when Europe went to the Euro.
I think that point of view has been lost with the economy issues over the last decade.
. Maybe Russia and China will choose the Euro.
But don't let the facts get in the way.....
reply to post by Xcathdra
Russia's economy is in the tank...
The economy of Russia is the eighth largest economy in the world by nominal value and the sixth/ fifth largest by purchasing power parity (PPP).
The Russian economy is currently labeled as a high income economy by the World Bank. The country has an abundance of natural resources, including timber, precious metals, and particularly fossil fuels (oil, natural gas, and coal) that can be developed without the constraint of OPEC production quotas and other rules (Russia is not an OPEC member). In recent years, Russia's oil and gas production and pipeline projects have been not only a primary source of Russia's economic growth but also a geostrategic lever in the country's relationship with Europe and Asia.
In late 2008 and early 2009, Russia experienced the first recession after ten years of experiencing a rising economy, until stable growth resumed in late 2009 and 2010. Despite the deep but brief recession, the economy has not been as seriously affected by the global financial crisis, largely because of the integration of short-term macroeconomic policies that helped the economy survive, as well as low levels of sovereign debt.
China's economy is having massive issues...
The socialist market economy of China is the world's second largest economy by nominal GDP and by purchasing power parity after the United States. It is the world's fastest-growing major economy, with growth rates averaging 10% over the past 30 years.
China is also the largest exporter and second largest importer of goods in the world. China is the largest manufacturing economy in the world, outpacing its world rival in this category, the service-driven economy of the United States of America. ASEAN–China Free Trade Area came into effect on 1 January 2010. China-Switzerland FTA  is China's first FTA with a major European economy, while China–Pakistan Free Trade Agreement came in effect in 2007 is the first FTA signed with a South Asian state. The economy of China is the fastest growing consumer market in the world.
By 2010 it was evident to outside observers such as The New York Times that China was poised to move from export dependency to development of an internal market. Wages were rapidly rising in all areas of the country and Chinese leaders were calling for an increased standard of living.
China is the largest creditor nation in the world and possessed in February 2012 approximately 20.8% of all foreign-owned US Treasury securities.
Neither are capable, at this point, of being self sufficient to the extent of not being affected.
Without that consumer base, and no other country to plug a gap that large, China would be screwed the same.
But yes, by all means, lets not let facts get in the way....
...let's say the US dollar collapsed...
reply to post by elysiumfire
However, I feel the only way the dollar would collapse would be a forced attempt to crash it, or the more likely scenario