Quote:
|
Originally Posted by badcompany
The irony is that the rise of China was due to a capitulation to Capitalism. From my understanding, the providences which do the best are those which have the least interference from Government Officials.
China's biggest problem going forward is that they committed to a merchantilist policy without paying enough attention to internal consumption. Now, their biggest customers are broke and all the Chinese have to show for it is a bunch of paper that a Princeton Professor can print at will.
|
Their biggest customers, being broke, and having lost most of their manufacturing need cheap goods from China more than ever.
They have huge commodity investments all over Africa
They have bought out companies on the cheap all over the Western World
USA citizens will be paying tax to them for decades in the form of loan interest
They have cornered the World's supply of rare earth metals
"Mainland China's gold imports from Hong Kong surged more than sixfold in the first quarter, to 156 metric tons, adding to signs that the country may displace India as the world's largest consumer of the precious metal on an annual basis." And the punchline: "
The purchases through Hong Kong may signal that the mainland is accumulating reserves, London-based brokerage Sharps Pixley Ltd. said in February. The nation last made its reserves known more than two years ago, stating them at 1,054 tons.
That is what they have achieved in just 30 years.
With tens of thousands of graduates in engineering and science they won't be caught anytime soon by a dumbed down America.
