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To: BGHater
Even at current torrid rates of growth, it will take the average Asian 77 years to reach the income of the average American. The Chinese need 47 years. For Indians, the figure is 123 years. And Asia's combined military budget won't equal that of the United States for 72 years.

That will certainly change now that we have Carter part 2 in charge as POTUS.

2 posted on 08/13/2009 3:55:09 PM PDT by Tamar1973 (http://koreanforniancooking.blogspot.com/)
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To: Tamar1973
No, it really won't. Nothing that happens in one term, short of world war, changes such things.

The masses of Asia are still poorer than dirt. There is a new middle class industrializing its coastlines, who have about reached the standard of living Americans enjoyed about 80 years ago.

In an ordinary non-recession year, the US adds new income - wealth per unit time indefinitely - of $400-500 billion in real terms, and twice that in nominal terms (before adjusting for price changes). China adds less than $300 billion. The absolute gap is still widening - their faster percentage rate is on a much lower base. Then they get to spread that new income over 3 times as many people...

3 posted on 08/13/2009 4:09:34 PM PDT by JasonC
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