Why would it be bad for the western world ? Because hundred of millions of jobs will come back home ? Because greedy corporations will have to give jobs to their consumers and pay taxes ? Because there will be one less gigant that will stop producing greenhouse gases ? Because there will be no one left to oppress freedom and censor the word "democracy" ? Or maybe because the world will have one less mad empire bent on global hegemony ?
I can't see China collapsing in the near future, although they are very much tied to America and bound to feel its progressing pain; most of the West's, for that matter.
My quote says it will be nowhere near as bad for them (the Chinese people) as it would be for someone in the western world. ie: if we crash then we lose our houses, cars, money etc. BUT if you own NOTHING then you can't lose it can you? I didn't say it would be bad for the western world, although of course it would. Even if China goes broke, then it calls in its debts, same as any organisation does BEFORE it goes broke. It will take down its debtors too.. Do you know how the economy works?
They have there own growing middle class. I would think that they would start consuming more of what they produce if margins in exports to USA and Europe decrease ... why not.
That's an interesting point Mrgilb. Their middle class does not compare to that of the rest of the world's, though. I expect that the progressive increase in this group within China would demand larger representation and therefore help further change towards capitalism.
good point mate, however, the growth of the middle class is largely based on the manufacture and export of the goods to the international market. When export takes a hit -> Production takes a hit -> Employment takes a hit -> Growth takes a hit -> Growth stalled See the relation?
China is the number one buyer of precious metals. They seem to be smarter than some countries when it comes to preparing for the future.
Besides the precious metals, they are trying to forcibly acquire oil. These small islands ( Spratlys)have very rich resources owned by : Brunei, People's Republic of China, Malaysia, Philippines, Republic of China (Taiwan) and Vietnam.
Most of Chinese Wealth is in the hands of state Owned Corporations. Chinese Consumers spent $1.2 Trillion Last Year. Compare that to American Consumers - $9.9 Trillion, France - $1.2 Trillion. Chinese Consumption cannot replace the export oriented growth!
Maybe it is their collective consciousness ?? ( They have the biggest ones in the world. ) If not, they are simply smarter. Look at how China has been buying gold lately.
China is also the #1 exporter of rare earths and uses that as it's lifeline . The moment that the rare earths will run out then people would care about China as much as they care about North Korea . They know this so they use every mean and option to save their demented empire from collapse in the near future .
China is a big contentder for being the superpower in the coming years. Its US big wish that China falls.
I disagree. Government officials since the 60's have gone over to China to establish the growth and power it enjoys today. It's no coincidence that Western industry has moved there. Also, why do you think China receives so much foreign aid from our countries? It's not a struggling third world country by any means.
India has always been into PM in a big way. Look at the amount of gold and silver jewelry they have historically sported relative to other societies.