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)
    31.8%
  2. They are lucky.

    0 vote(s)
    0.0%
  3. They are geniuses.

    7 vote(s)
    31.8%
  4. It is written.

    8 vote(s)
    36.4%
  1. maxpi

    maxpi

    you warned us, we didn't listen.... again

    China's CB is staffed with Traders.. that's right, people that have had jobs in major league trading institutions, after getting some great educations of course... The rest of the world's CB's are staffed with PhD's... go figure who's going to win in that arena...
     
    #11     Nov 1, 2011
  2. the1

    the1

    Obama has this solved by encouraging everyone to go to college and get a "degree." LOL. So the US will be enslaved by China and by crushing debt. Imagine trying to pay those $400/month payments on $100 per month. Sounds tuff.

     
    #12     Nov 1, 2011
  3. morganist

    morganist Guest

    You left one option out. The competition sucked.
     
    #13     Nov 1, 2011
  4. You didn't watch Slumdog Millionaire then?:D
     
    #14     Nov 1, 2011
  5. the1

    the1

    Ya see, that's the thing. In the US someone from the slums can become a millionaire. Granted, the odds are heavily stacked against that, compared to someone living in suburbia but it can happen. In a communist society the government basically controls everything so there's no incentive to invent the next generation iPhone because you're not going to go from the slums to the middle class, or from the middle class into the upper class. You're basically stuck in the class you're born into, with some exceptions of course. If China remains a Communist country they will not become the next economic superpower unless the US crumbles from within, which is definitely possible. However, it's my feeling the crisis' that have been occurring will be dealt with and history will look back at it as a speed bump during the Technological Revolution that dwarfs the Industrial Revolution. America will rock on but not without societal changes -- no reference to Obama. The US is going to look a lot like England but with the same opportunity to become the next Steve Jobs or Bill Gates.

     
    #15     Nov 1, 2011
  6. Is this 1990 all over? Are there still people who think China is communist?
     
    #16     Nov 1, 2011
  7. Let me take a guess at the main/only thing your post and thread prove: You are chinese?
     
    #17     Nov 1, 2011
  8. You do not seem to have understood what you read: The article does not say euro-bonds in RMB, it says bonds issued to chinese in RMB.

    Before China becomes a first-class nation, it first needs to learn to read and correctly understand.
     
    #18     Nov 1, 2011
  9. LOL, the only "chinese" thing about me is i like kung pao chicken.
     
    #19     Nov 1, 2011
  10. This is how I see it also. The major difference between the West and the East is the reliance on credit. The Chinese consumer is still prefering cash. Because of this, any growth at the common citizen level is not phantom money. In the West The base front line consumer is credit dependent. The saving rates in the states are at an all time low. DC is still living it up like it is the 80's and won't take off their rose colored glasses and continues to sell us all down the river for peanuts.
    The last chance for the US to stay in the game was NASA. The whole program was basically axed. The Chinese have ramped up their space buget and their economy is in full swing.
    The US could also bite the bullet and start on the much needed Nation High Speed rail system but the political pissing contest is stopping progress on that as well.

    Welcome to Planet Misery,

    Akuma

    BUY GOLD!!!
     
    #20     Nov 1, 2011