Who is the fool? Do a little research on China for fuck's sake. The percentage of their population that completes secondary school is 11% -- that's eleven percent. The median annual salary is approximately $1000 per year. You think China is some economic super power? Go do a little homework and stop calling other people a fool until you have proven you are not one yourself.
a) well as you started to play with numbers why dont you look at those numbers that matter such as current account surplus/trade balance, GDP growth, income growth, consumption growth. Then you may get a better idea where China is headed over the next 10-20 years. b) Could you please provide a link to your secondary school statistic. I would be curious. Re your salary figures you conveniently chose the median over the mean for apparent reasons...
China is the biggest fucking bubble people think it's the USA at the start of the 20th century name one accomplishment the Chinese have done? The don't invent they steal and this means they will always be behind the curve.
Don't forget their stimulus is far higher as a % of GDP than the U.S., and that ma and pa in China are literally borrowing money from the banks and investing it in the markets. ...not to mention the subsidies the central gov't is providing on everything to heating oil to diesel... p.s. - It's true that Chinese auto sales are set to outpace U.S. auto sales this year, but what the headlines don't say is that the average price of a Wuling minivan or such is about $3,400 - I'd highly doubt the overall average transaction price for all Chinese autos is more than $4,500.
Lets see. Silk, movable type, first Iron, first iron castings (that we know of),first gunpowder, first mathematical system with a zero that could handle division, probably first circumnavigation of the globe. The Chinese peaked in discovery and innovation a couple of thousand years ago. Scary when you think about how much they have lost, and why they lost so much. With Wall Street sending our manufacturing to China, China will be an innovation powerhouse in 20 years. Most inovation builds on current practice and is about observing the happy accident and capturing what just happened to make further improvements. Since we moved manufacturing the Chinese are going to be the ones doing the observing.
Somebody is making money- "the number of US-dollar billionaires in China has jumped to 130 this year from 101 in 2008". http://www.atimes.com/atimes/China_Business/KJ15Cb01.html
The irony there is that while you're accusing somebody else of being a "China hater", all of your posts seem to reek of being nothing but American hating.
Who does not cook their books?? even here in America, bernanke does it all the time. So there is no pt criticizing others