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Originally posted by win 52
They don't need us and they never did.
Originally posted by RetinoidReceptor
This is not an atsn article, this is your own one sided view.
Originally posted by wecomeinpeace
China's economy is a raging bull let loose out of the stadium and running wild; it may calm down and turn into a hard-working, efficient ox, or it may crash.....
Originally posted by JSR
after the fast run up, there will be a period of slow, or even pull back.
after the shake out happens, wouldn't you say, that puts them in a great position to begin real, and slow growth?
posted by Gools
The delusional thinking of some people leads to the conclusion that somehow a borrower is in the driver's seat with respect to their bank's business and that the bank can't survive without them. [Edited by Don W]
That being a consumer economy is better than being producer economy. This is total nonsense . . After all, which is better? Consuming wealth on credit margin or producing wealth?
Some people look at the US-China trade deficit as something that somehow places the US in the driver's seat over the Chinese economy. This could not be further from the truth . . you will see what I mean when I say that soon China will not need any American consumer.
Most of the goods they [Chinese] buy are produced at home where rapid industrialization has resulted in a large proportion of the manufacturing capacity of the world being based there, along with the jobs that go with it. [I date this from 1977 and the 6th Communist Party Congress] China has a rapidly growing [blue collar] middle class. Someone in China earning $10,000 a year is equivalent to someone earning $40,000 a year in the US . . It’s estimated 30% of the Chinese population earns at this level . . over half the population [700 million] - mostly rural - still live below the poverty line but this new middle class is growing rapidly . . already surpasses the [total] US population. It’s estimated China will lead world consumption of goods by 2014 - seven years from now. So we have a new middle class in China that is already bigger than the US middle class but China needs [America] to buy their goods to keep the "world" economy going?
They [China] are approaching an economic critical mass IMO where their own internal consumption will make up for any decrease in consumption by the West . . It's the new frontier for the merchant class who have always followed the money. The moneyed class have no allegiance except to themselves and will not hesitate to leave the rest of us behind to fight for table scraps. The sooner you grasp what is going on outside your borders in the global economy and stop the stupid patriotism nationalism, the sooner you can start to prepare yourself. [Edited by Don W]
posted by Gools
Many good posts in this thread. However, I'm sick and tired by some people's attitude the somehow the USA is the "end all and be all" of world history. To think that any part of the machine is irreplaceable is the height of hubris. [Edited by Don W]