China is one step away from becoming a superpower. How did they do it?

Discussion in 'Economics' started by Grandluxe, Oct 29, 2011.

China is one step away from becoming a superpower. How did they do it?

  1. They cheated.

    7 vote(s)
  2. They are lucky.

    0 vote(s)
  3. They are geniuses.

    7 vote(s)
  4. It is written.

    8 vote(s)
  1. Euro-Bonds to be denominated in RMB? Very first thing they do after the summit is travel to China.
    Eurozone rescue fund tries to tempt China with bonds issued in yuan.

    11:09AM BST 29 Oct 2011

    EU bailout fund chief Klaus Regling travels to China to ask for help.

    The head of the eurozone bailout fund visits Beijing on Friday as debt-laden Europe tries to persuade China and other top emerging economies to come to its rescue.

    The head of the European rescue fund says it could issue bonds in yuan, as he attempted to tempt China into backing Europe’s bailout.

    “We have so far only issued euro bonds but we are authorised to use any currency we want if it seems efficient,” Klaus Regling, chief executive of the European Financial Stability Facility (EFSF), said.

    "It also depends on the Chinese authorities, whether they would approve that. I think it is probably more difficult. But I could imagine that over the years it might happen," he added.

    China has the largest foreign exchange reserves in the world, valued at $3.2 trillion (£2 trillion)

    Mr Regling also said that investors may be protected against a fifth of any initial losses.
  2. China doesn't even have a currency of its own.

    It is many, many steps away from "becoming a superpower".
  3. China was the largest economy in the world for centuries until the 1800's. This is more a continuation after a dark period (Mao)

  4. China had 40% of World's silver in 1870, when silver was demonetized in West. By 1920 silver lost 99% of its value, as much wealth China lost. China is too naive to play money game and can only rely on brutal, dumb laboring.
  5. Not suggesting China/Chinese aren't capable.

    Just saying there is a looooong way to go between "here" and "there".

    It will be very interesting indeed to watch the Asian economies deal with the long term de-leveraging and lack of growth in the West that comes with the end of the Cheap Oil era.
  6. Chiang Kai Shek argued in the end the West prospered in the 20th century because the East stayed in depression after the big reset in the 30's, highlighting global zero sum.. The US had vested interest to let communism win out abandoning both Cuban rebels and Chinese democratic nationalists. What we're experiencing now is just a reversal scenario and how global economies balance out. There cannot be global prosperity as the game is zero sum. One man's prosperity is another's sweat shop. I would not be surprised if China returned the favor as oligarchy and socialism rise in the West..

    Also, capitalist motivation is cyclical. People go from lazy to hard working and back. The gears are now in motion but in seperate directions on the two sides of the planet.

  7. How did China become an economic Super Power?

    Easy to understand. America and Western Europe "handed them the keys to the city"... so that we could buy cheap products at Wal-Mart. In the process, we've sacrificed a large part of our source of wealth and economic strength... mainly, our "middle class".

    Just another example of short-sightedness and greed. Tsk, tsk.

    Eisenhower warned us. We didn't listen.

    Ross Perot warned us. We didn't listen.
  8. You need to export your culture to the world so that you can dominate it

    USA did export its culture, its language its lifestyle, its movies, books, everything.

    That is why China will never become superpower but USA is wekaning also.

    strange combination
    #10     Nov 1, 2011