Quote:
Originally Posted by bhunter
They also have internal problems that will continue to fester. They aren't the "biggest and strongest" economy; we still are and will be for at least the near future. The new Chinese wealthy are fleeing rapidly because of the future turmoil that the continued repression of the underclass will surely engender. There are more mouths to be paid off than food available. Also, they need a market for their products; thus, their economic clout would vaporize without the West purchasing their products.
A margin call by the Chinese would be their suicide not ours. We need to get tougher with them and pressure them to quit artificially manipulating their currency. We seem to forget how Japan was once supposedly a big threat, but ultimately floundered. China has far more internal structural problems and will likely flash and then burn out, then ascend to be a more fair player in the international economic scene.
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Problem is, we're busy creating a repressed underclass and future turmoil here as well. Mainly because we've been living in a fantasy world, trying to play fair in a real world that doesn't really give a shit about fairness. That's the road to poverty that people take on many levels----trusting in the kindness and generosity of their fellow man.
You're right about one thing, though. We do need to get tough........Actually, were about fourty years too late on that one.
Dave