Should the world look to china as the new economic power of the world?

Posted in: darrelrussell.com edit
08 Jan 2009
  • If you champion the lack of regard for human rights as well, you are free to think as you wish.


  • no...their population is too large to sustain an American style economy...resources are limited...our population is small...


  • Yes. Considering that China can still come up with a huge budget surplus despite its 1.2 billion population (which it has to feed).


  • China IS the new economic power-- they have low wages, a LARGE workforce, no environmental restrictions, very high work ethic, and very little regard for human rights. Sounds like a formula that WORKS!

    Sounds like America used to be (except for the human rights factor).


  • Yes.


  • You can look to them or just sit back and whine about their supposed slave labor practices
    Either way they are a financial superpower with enough clout to practically own America right now


  • China's economy is collapsing just as much as ours except theres was much lower to begin with

    I think china needs to look after itself a bit more before anyone can look up to them


  • Yes. We are indebt to them up to ears since Bush has simply dumped money into the war and borrowed it from the Chinese. While you and I sleep, China is taking our money in interest on loans at a clipping rate. But we keep opposing paying for our own war or raising taxes to meet any of our Countries needs. China here we come again.


  • Well... they do have an impressive financial reserve, surplus and domestic market. Whatever value judgments might be made of them on sociopolitical grounds are irrelevant. They are one of the many developing countries who have been subsidising the American Good Life for many years... and have suffered losses for it... so who can blame them for taking advantage of their own frugality and self preservation in the current climate? Yes... it might be a very good time to set aside our prejudices and become better negotiators with our creditors. :)


  • Not hardly. Look,a lot of people who don't have much faith in America were hyping this "next great power and America is finished" BS a few years ago when Japan emerged as a major economic power. At least in that case, there was some logic to it. That's not the case with China.

    First of all, China is a dictatorship. Their much celebrated "free economy" isn't. Or the pundits are talking about China's great population. Do they not realize that is a liability for China? The Chinese do! But the key is that China simply isn't on a course to be really competitive with the US or Western Europe. That might change at some point--but for them to become real competitors you're talkng about maybe 50 years from now. That's far too long to make predictions.

    Let me give you one example of why (don't jump on this too much--it's just one of a dozen examples I could have picked). The Chinese government has chosen to rely on a coal-based system of energy production. It's a dead end. They are investing tens of billions in coal plants. Now look at the technology--coal is becoming obsolete as an energy source. In 20 years, no one outside China is going to be building coal plants. Businesses in advanced nations will be converting from coal to cheaper, more efficient energy technology and dismantling old worn-out coal plants.

    That will put China ata competitive disadvantage. They are--if they continue on the course they are on--going to find themselves stuck with an energy production infrastructue that's obsolete adnd costs too much to run at the very time the nations of Europe and the US are moving on to the next level of technology.

    Its the same with most of their economic planning and investment. They simply aren't going to be competitive--not for a very long time. And that's if their lucky. If they aren't--if it turns out global warming is as severe as scientists say it will be (actually, tht's not an if, its a when) then China will be forced to abandon their nice new energy infrastructure long before it's time to replace it. That would cripple their economy for decades.







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