What say you? Is this why our stock market continues to astound the "inverted/ recession/oil preachers on the street corner? Michael B.
Two Clips from the article above In the United States and other advanced countries there is great and growing fear of having to compete with industries located in presently poor, impoverished countries with extremely low wage rates, and where labor is suddenly rendered dramatically more productive by the investment of capital coming from the advanced countries. The combination of radically lower wage rates coupled with dramatic increases in productivity results in foreign competitors in the backward countries with sharply lower costs of production. These lower costs, it is feared, enable those foreign competitors to be profitable at prices that producers in the advanced countries simply cannot match without selling at a loss or without requiring wage reductions from their own employees. Whether or not globalization will continue and reach its ultimate potential depends on the global acceptance of America's traditional values of private property rights and economic freedom. The once seemingly insuperable obstacle of socialism has been swept away. Environmentalism, which is merely an enfeebled, primitivized reincarnation of socialism's hatred of capitalism, remains. It too will need to be swept aside if the world's presently backward countries are to have access to the raw materials they must have in order to achieve a modern standard of living. And, of course, it will also be necessary for the world's rogue states to be deprived of the ability to inflict harm on their neighbors or in any other significant way to harm the further development and maintenance of the global division of labor.
we are getting our asses handed to us and we deserve it. has anyone been to china lately? i was there recently. they are focused on one thing and one thing alone and that is to make money. make money and save money... they are buying up america like nobodies business. they are growing at 13% per annum with a surplus. america is growing at 1.6% with a 70 billion dollar trade deficit per month and an additional 70 billion+ dollar deficit per month. we are printing money at a rate so fast that it isnt reported anynore. our president is a fuck up who has pissed away 8 trillion dollars in the past 6 years.better learn to speak chinese
. they are buying up america like nobodies business. When did I hear that before? Oh yes, 20 years ago Japan was buying up the whole America.
It's a worthwhile point Cesko, but one cannot ignore that 1. Japan was and still is a sort of military protectorate of the US and 2. China is an order of magnitude larger in population and resources than Japan. So yeah history rhymes, but it doesn't repeat Who knows how this will all play out ultimately, but the current trend of Chinese growth is clearly not over yet.
I think Chinese economic growth is good for USA. I remember about year 1990 reading predictions that the Chinese population is so large and growing so fast that a massive famine was likely about year 2005. I suspect the likelihood of famine is one reason the Chinese government tolerates some capitalistic activity. A huge number of poor, starving and desperate people anywhere in the world is a threat to world peace. So in a sense yes, USA is prospering from asian capitalism. The USA avoids war with China or Russia.