TotallyOz Posted April 25, 2011 Posted April 25, 2011 Read this article and the IMF has set 2016 as the year when the Chinese will overtake America as the worlds largest economy. http://www.marketwatch.com/story/imf-bombshell-age-of-america-about-to-end-2011-04-25 Quote
Members TampaYankee Posted April 25, 2011 Members Posted April 25, 2011 Read this article and the IMF has set 2016 as the year when the Chinese will overtake America as the worlds largest economy. http://www.marketwatch.com/story/imf-bombshell-age-of-america-about-to-end-2011-04-25 Nobody with a head in the game should be surprised, generally. Whether 2016 or 2020 makes little difference. The Republicans have guaranteed that we would be overtaken sooner. The Dems have contributed to their effort. This is not the forum to go into long diatribe about the state of affairs. It suffices to say that our politicans have focused on the debt and deficit issues in the near term over jobs, jobs, jobs, invigorating R&D and restoring a manufacturing base. So be it. Quote
Members Lucky Posted April 25, 2011 Members Posted April 25, 2011 That's why, years ago, I set myself up with a Chinese partner. Prophetic, huh? Quote
Guest hitoallusa Posted April 25, 2011 Posted April 25, 2011 oh my that's hot. I love Chinese. Anyways China is growing fast. A lot of bright chinese people come to the US and settle here. I think they are contributing a lot in science and technology. In the future the world will be so interconnected that I don't think one country's success will bring down another country. The whole world will be so closely tied that one's success will benefit others instead. One thing we can learn from Chinese people is that they work extremely hard and their hard work is paying off. One Chinese co-worker worked 24/7, literally. He got hired recently by a very prominent Chinese company owned by the communist party but going to work with us for a year. He hates gay though. He thinks gays should be killed. I am not sure whether he joked(?) when he said that gays get killed in China. And then he touches my body and makes comments.. So I guess he is a closet case? The comments were not that great. I am going on a diet! Now we don't want that kind of mind set leading the world in the near future, do we. So I hope the US can lead the world for a long time for our sake. In order to do that young people please work hard and be innovative. You can do it. That's why, years ago, I set myself up with a Chinese partner. Prophetic, huh? Quote
Guest EXPAT Posted April 25, 2011 Posted April 25, 2011 When the wages start to increase dramatically in China you will see a huge decline in their economy. It will be too difficult and then expensive to do business there other than serving that market. It will be a yo-yo for a while. It's fascinating to watch. Quote
Guest hitoallusa Posted April 25, 2011 Posted April 25, 2011 Good point. I have my eyes on Africa. Only if they can establish a form of stable government. They have a great potential. I loved Out of Africa, the movie too. When the wages start to increase dramatically in China you will see a huge decline in their economy. It will be too difficult and then expensive to do business there other than serving that market. It will be a yo-yo for a while. It's fascinating to watch. Quote
Guest zipperzone Posted April 26, 2011 Posted April 26, 2011 Good point. I have my eyes on Africa. Only if they can establish a form of stable government. They have a great potential. I loved Out of Africa, the movie too. I'm trying to make a connection in my feeble mind to what a movie about Africa has to do with the possible eventual Chinese domination of the world economy and the ending of the "Age of America". Just give me some more time - I'm sure I will get it eventually. Quote
Guest hitoallusa Posted April 26, 2011 Posted April 26, 2011 lol.. Sorry.. I should have not metioned it at all. I'm trying to make a connection in my feeble mind to what a movie about Africa has to do with the possible eventual Chinese domination of the world economy and the ending of the "Age of America". Just give me some more time - I'm sure I will get it eventually. Quote
Members lookin Posted April 26, 2011 Members Posted April 26, 2011 Well, it turns out the Danes have a much smaller economy than the U. S., and they work less than anybody except the Belgians, and they usually pay the highest taxes in the world. And yet they're the happiest people on earth. Go figure. Quote
Members MsGuy Posted April 26, 2011 Members Posted April 26, 2011 When the wages start to increase dramatically in China you will see a huge decline in their economy. It will be too difficult and then expensive to do business there other than serving that market. It will be a yo-yo for a while. It's fascinating to watch. Wages are already increasing dramatically in China, Expat. Labor intensive, low productivity Chinese manufacturing firms have been shifting plants both deeper into the interior and into countries like Viet Nam searching for cheaper labor. Meanwhile the bulk of the economy is moving up the productivily food chain, a natural and inevitable result of their success, not a harbinger of their decline. Now whether their currupt 3rd world political system and rickety Alice in Wonderland finantial system will be able to hold together under the stress of managing a world class economy is anyone's guess. But we completely agree on one point: it's fascinating to watch. Quote
Members MsGuy Posted April 26, 2011 Members Posted April 26, 2011 Well, it turns out the Danes have a much smaller economy than the U. S., and they work less than anybody except the Belgians, and they usually pay the highest taxes in the world. And yet they're the happiest people on earth. Go figure. After WWII we somehow managed to convince ourselves that we needed to run the world to be successful; that we needed to be the biggest badest outfit on the planet to survive. To me, it's not entirely clear why someone else's success should necessarily be equated with failure on our part. Quote
BiBottomBoy Posted April 26, 2011 Posted April 26, 2011 The thing is this all assumes that the Chinese can maintain a stable currency in an expanding domestic economy which is unlikely. Eventually they will have to appreciate their currency against the dollar, which will kill exports and bring their economy down to a declining level. Quote
Members RA1 Posted April 26, 2011 Members Posted April 26, 2011 Well, it turns out the Danes have a much smaller economy than the U. S., and they work less than anybody except the Belgians, and they usually pay the highest taxes in the world. And yet they're the happiest people on earth. Go figure. They drink, not sure about any other mind altering drugs. Best regards, RA1 Quote
Members MsGuy Posted April 26, 2011 Members Posted April 26, 2011 They drink, not sure about any other mind altering drugs. ha ha ha ha ha Quote
Members TampaYankee Posted April 26, 2011 Members Posted April 26, 2011 After WWII we somehow managed to convince ourselves that we needed to run the world to be successful; that we needed to be the biggest badest outfit on the planet to survive. To me, it's not entirely clear why someone else's success should necessarily be equated with failure on our part. Well, the whole American culture assumes we are number 1. Whether it is necessary or right is another issue but we have called the tune pretty much since WWII. One thing is clear, we will no longer be doing that with China as the leading economy. In fact, we have lost that tune-calling already with this near depression brought on by our Wall St excesses abetted by poor government regs and oversight. We are not going to regain it with the paltry response our politicians have made to our recovery, 2016 or not. We are not going to fold but we are not going to call the tune as before, especially while unemployment remains high. Quote
