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America's competitors display other weaknesses that become apparent in times of crisis. As Harvard economic historian Niall Ferguson noted over the weekend in the Washington Post, while the U.S. stock market has declined roughly 18% this year, China has seen a fall of 48% and Russia of 55%. "These figures are not very good advertisements for the more regulated, state-led economic models favored in Beijing and Moscow," he wrote.
I hate to point this out, but your "coffee" hasn't been fresh since about 1986. The US does not "carry the world" as you said. Our current economy is based on having the producers of the items we consume finance our ability to consume them. If you don't see the problem there, serious basic education is in order. Shouting "We're Number One" and sticking American flags all over our cars makes us feel good, but it doesn't do s**t about the real problem. Our problem is that for the last several decades, we have financed our lifestyles with other people's money. Fix that and you will fix America, but that is going to be about twenty years of pain and deprivation, and I'm not convinced the average American will do it.
Originally posted by poet1b
reply to post by beefsupreme
Wake up and smell the coffee, the truth is just the opposite, the U.S. has been carrying the world's economy since WW II ended. Japan and China, and the entire eastern rim of Asia, including Indonesia, has been fixing their currency to the U.S. dollar in order to maintain a trade advantage, because they refuse to pay their people enough money to buy the products that they make. This is the biggest problem in the world economy. If the countries of Asia would make an effort to raise wages and create some domestic demand and put a balance to the world's economy, we wouldn't be in this mess in the first place.
Europe is tied to the U.S. at the hip. As things go in the U.S., things go in Europe. Have you bothered to pay attention to world markets over the last week, and the situation with world banks? Russia is even more dependent, as their only real domestic product is oil. They do not make cars or tractors or electronics, are anything else that I can think of that the rest of the world wants.
The third world depends on Western Europe, the U.S., and Japan and S. Korea for their economic survival, providing very little to the worlds economy. If the 1st world economies tank, the grossly overpopulted third will suffer far more. This is a very sad fact of the situation.
You people might want to be a little more careful as you rejoice at the fall of the U.S. economy.
Yeah, and if they demand currency and hyperinflate the U.S. currency, they destroy their own economies. Call it what you will, your argument is garbage. Other countries can demand what ever they want, but they don't have the army or the navy to back it up. The sheep can demand whatever they want from the wolf, but they ain't gonna get it. You don't have a clue about international trade.
Yeah, and if they demand currency and hyperinflate the U.S. currency, they destroy their own economies.
Why China Will Boom During the 2009 Great American Depression
In terms of China’s economy, it has been changing over the past two-three years and is increasingly a consumer driven economy rather than an export driven one. That said, Chinese exports are still an important part of its economic base. However, impact from a US slowdown is likely to be minimal. Indeed, as U.S. purchases slowed earlier in the year, China actually showed an increase in its exports as it sold more to other emerging markets both in Asia, South America, the Middle East and Africa.
While America struggles with a breakdown of its financial systems and massive debt, it continues to fight two wars globally, is largely dependent on oil, completely inefficient in its use of its energy resources, and has a new leader who will also have to be embedded in place in just a few weeks.
That is in stark contrast to China which is largely energy sufficient, (although supply chains needs improving a weaker oil price will help investment), it has a buoyant domestic economy, has engaged a moderate level of energy usage per head of population, is fighting no wars, and continues to have stable leadership.
We would expect a China, and emerging markets elsewhere to boom during such circumstances, with growing economies well managed and fiscally secure, during a time when U.S. and European markets will continue to require less expensive products during their recessions.
Call it what you will, your argument is garbage.
Other countries can demand what ever they want, but they don't have the army or the navy to back it up.
The sheep can demand whatever they want from the wolf, but they ain't gonna get it.
You don't have a clue about international trade.
Lend-Lease was one of Franklin Roosevelt's most remarkable and vital achievements in the formation of the anti-Hitler alliance'. Lend lease material accounted for almost 10% of all Russian war material.
Originally posted by FredT
Considering the source, Im not surprised that Prvada has returned to its roots; That is shameless propaganda.
Tough times? you bet. Changes needed? You bet?
America down and out? Hardly.
While the current mentality of deficit spending has got to end, its hardly the end of the country, and nor do I expect bread lines and the like anytime soon.
As far as Russian military might, LMAO, as long as they can get U.S. computers to run their stuff, they are somewhat functional.
But U.S. military microchip suppliers have in recent years been “sharing components from a single source manufactured in mainland China for use by the United States military.
China's advanced computer chips run everything from civilian rice cookers to military communications, surveillance, and missile guidance systems.
According to one online industry publication, Chinese circuitry is now used “in the smallest, fastest and most powerful computer chips in world.
China would love to take back Taiwan, but they wouldn't dare attempt the few miles of the straight separating Mainland from Taiwan, they are soo scared of the U.S. Navy, and rightfully so.
China is growing domestic demand, but not fast enough. China also has some very severe environmental problems that they are going to have to address.
You American bashers are such a funny lot, you live in such a fantasy world. My coffee is nice and strong, not the instant stuff you guys are probably drinking.
Obviously last weeks Asian stock market ride, where Asian stock markets dropped even faster than U.S. stock markets showed that claims of Asian independence from U.S. markets is nothing but pure fantasy, and Russia had to close their markets, the effect was soo bad
it seems you have no clue yourself ,huh ... whats your age , kid and what are you in high school....
lol, Russia has the army and nukes to back it up and kilo SSK's to deal with american SSN's in case they enter barents sea
and yes, USA has no superhardened underground cities like Russia , which has several of them ..... USA is just a paper tiger , with feet of clay
except for the fact that the shepard is China and its attack dog is Russia which is armed with nukes to its teeth, so don't worry USA can demand nothing from China and Russia
much more than you as i have attended WEF meets .....
and you have a clue???
no wonders , american economy is in gutters and american fiscal ,budgetary ,trade deficits are and national debt are so high , thanks to americans like you that Bush is elected
so better start praying that China bails you out of the crisis
Did you notice your link to Chinese computers doesn't even name what fabulous chip the Chinese are making. Good money would be that the chip was designed by a U.S. corporation, and is produced by a U.S. corporation in China.
so, go thank China , as your companies have outsourced everything to china and now you are dependent on it
It is a lower tech chip that can be made most cheaply in China. It is used in a lot of stuff, and only manufactured in a few locations. Thing is, it could be made anywhere.
were are the cars and computers that they have designed and put out on the market?
The most sophisticated technology is built in the U.S. or Western Europe, not China, and certainly not Russia.
Study Shows China as World Technology Leader
Technology indicators show China ahead of the U.S. in technological standing
Atlanta (January 24, 2008) —A new study of worldwide technological competitiveness suggests China may soon rival the United States as the principal driver of the world’s economy – a position the U.S. has held since the end of World War II. If that happens, it will mark the first time in nearly a century that two nations have competed for leadership as equals.
A chart showing change in the technological standing of the 33 nations is dominated by one feature – a long and continuous upward line that shows China moving from “in the weeds” to world technological leadership over the past 15 years.
The 2007 statistics show China with a technological standing of 82.8, compared to 76.1 for the United States, 66.8 for Germany and 66.0 for Japan. Just 11 years ago, China’s score was only 22.5. The United States peaked in 1999 with a score of 95.4.
China’s emphasis on training scientists and engineers – who conduct the research needed to maintain technological competitiveness – suggests it will continue to grow its ability to innovate. In the United States, the training of scientists and engineers has lagged, and post-9/11 immigration barriers have kept out international scholars who could help fill the gap.
“For scientists and engineers, China now has less than half as many as we do, but they have a lot of growing room,” noted Newman. “It would be difficult for the United States to get much better in this area, and it would be very easy for us to get worse. It would be very easy for the Chinese to get better because they have more room to maneuver.”
China is becoming a leader in research and development, Porter noted. For instance, China now leads the world in publications on nanotechnology,
A new study of worldwide technological competitiveness suggests China may soon rival the United States as the principal driver of the world’s economy
and the US military uses lower tech chips
China currently educates more engineers, but most technological innovations doesn't come from degreed engineers, it comes from college drop outs.
What the report fails to mention is that China has increased its technological capabilities because it had so much room for improvement.
We can all speculate on what may happen, but that is nothing but pure fantasy, as I keep pointing out to you. Japan was supposed to be ruling the technology world by now, but that never happened either.
While the U.S. auto industry is falling behind, at least they are competitive, which China and Russia are not.
So what if Russia manages to make a custom off road vehicle that can actually compete, it still puts them far behind.
Still, Japan primarily copies it's automotive technology from the U.S..
Automotive hybrid technology became successful in the 1990s when the Honda Insight and Toyota Prius became available. These vehicles have a direct linkage from the ICE to the driven wheels, so the engine can provide acceleration power.
Shows that you have absolutely no clue about technology. Il
'll bet you thought you were real clever with this statement.
After the last great depression, which was a world wide depression, the world thought that the U.S. was a "has been" nation, just as they do now, and that assumption was a very foolish mistake on their part. The situation now is no different than then.