Posted on 01/20/2011 9:06:14 AM PST by mojito
''If China becomes the world's No. 1 nation ... ." That was the headline in the official newspaper of the Chinese Communist Party, The People's Daily, on the eve of Chinese President Hu Jintao's state visit to Washington. The article went on to boast how "China's emergence is increasingly shifting to debate over how the world will treat China, which is the world No. 1 and has overtaken the U.S."
A story like this does not appear by accident in the official Chinese Communist Party newspaper on the eve of a state visit to the world's (current) No. 1 power, the United States.
It was a signal. The latest and boldest signal yet that China intends to become the world's No. 1 power.
President Obama took the occasion of his first visit to China to show "humility" and to assure his Shanghai audience that "we do not seek to contain China's rise."
[....]
Now we have the official state paper of the Chinese Communist Party openly discussing "China as the world's top nation" on the eve of China's state visit to the Obama White House. Why is this happening? And why now?
When Mr. Obama "arrived in China ... as a fiscal supplicant, not the leader of the free world," as stated in the Times Online, and bowed down to their communist premier, the Chinese communists took the president's gestures as the signs of weakness they were, and quickly made "radical departures from late patriarch Deng Xiaoping's famous diplomatic credo of 'adopting a low profile and never taking the lead' in international affairs" by unveiling China's new "ambitious agenda" to assume a more powerful stance on the world stage and "to become world No. 1, the top power," according to the Asia Times.
(Excerpt) Read more at washingtontimes.com ...
America is forever as long as there are real Americans.
Politicians believing otherwise are temporary.
He does this because he doesn’t know what else to do. He has always had someone telling him what to do so in his mind, who better than the President of China. China has stated that the US is no longer No.1, but that is our Presidents view. China needs to ask the American people. I’m sure he will get another answer.
Since China has 4 times the population, it will have a larger economy once its workers reach 1/4 the productivity of ours.
The capital investment pouring into China over the last two decades is part of this process.
Their government is avoiding the mistake the West is making in accumulating vast debts.
Nothing would stop it short of another Great Leap Forward...
We can't win until we free ourselves from the social parasites in government, finance, business, and slovenly misanthropes. In China, when these groups do wrong against progress they are shot or enslaved (pehaps to feed the pigs or build a damn). In America, these groups are given the national treasure. We are tired. The theives and the stupid continue to steal from our labor.
The Commies now even have Bank accounts insured by our FDIC
http://www.zerohedge.com/article/china-devalues-us-buying-power-30-protects-us-treasury-holdings
Fears grow that China is overheating
http://www.ft.com/cms/s/0/ab89d906-244e-11e0-a89a-00144feab49a.html#axzz1Banw8LtK
I don’t care about the constant stream of propaganda about how the USA is “over” and how China is the “future”. China is a bloody dictatorship that murders children of parents that avoided the “one child rule”. China imprisons old ladies who complain that their property was taken by the govt to give to corporations. China suppresses the truth about the horrible condition of its people and the boiling unrest so that foreign investment doesn’t get scared off. China invents nothing but only steals technology. China is a house of cards. It will go the way of the Nazis and the Soviets and the Khmer Rouge and the way of every other communist dictatorship. The question is not “if” but “when”. I just hope that Soros holds a lot of yuan when it does.
Why I hate The Press.
We have 13 aircraft carriers, and they have 1/2 (the one they bought from the Ukraine isn’t out yet)
They can’t run the country they have now. They have water, pollution, and population problems that aren’t going away overnight.
You can’t enforce a contract there. You SORT OF have property rights there (See ‘can’t enforce a contract’)
They’re currency bubble is getting bigger and bigger. Every month they wait to unpeg, and every month they wait to move their interests rates to deal with inflation there is another million sqft of gas in the bubble. Inflation is at 5% that they’ll admit to.
Last but not least - you can’t be number one if you are stealing all your ideas from everybody else. When and if you truly become number 1, you’re going to expect people to respect your patents, and that’s not going to happen.
So here it is - for them to be number one, something truly catastrophic has to happen to the US in a way that we aren’t or can’t retaliate. If that happens, everything I just said prior to this doesn’t matter.
We actually have 10 carriers, with an 11th laid up in refueling overhaul. Those numbers will drop to 9 and 10, respectively, when Enterprise decommissions a few years before Ford enters service.
The population of the EU+US is about 800 million, China is 1.3 billion. If ya times it up: GDP divided by population:
EU+US=$37,500/person
China=$4,230/person
What individual citizens can produce and spend will always determine national status in the world in terms of a country projecting power over others. The average Chinese is at about 11% of the buying/spending power of the average European/American.
11% Hardly world domination.
It’s different than you think.
China also has a FEW DOZEN MILLION apartments that were built that nobody lives in. Sounds a bit like Japan in 1989.
China also has a hundred million Christians that are rebelling against the fake churches, with the fresh memory of tortured and killed Falun Gong members in their heads.
China has riots frequently.
China’s currency devaluation cannot last forever.
China is spending a lot of money to take over African resources and put their people in charge, and the Africans are starting to get suspicious and angry.
Finally, the increased amount of stuff that the western world is not buying from them anymore is stacking up. China can manipulate numbers, but it cannot manipulate economic law.
I give them 5 years, tops. The question is, What will they do to Korea, Taiwan, and Korea when the time is up? What will they do when their own people are sick of their own government and not just some University of Beijing students?
The thing is that the US, because of the fact that we are an open society, cannot hide her warts. China can hide theirs’.
We're actually accusing them of overvaluing their currency. Currency devaluation can go on for decades (see: United States Federal Reserve System) or even centuries (see: Roman Empire denarius). I'm not saying it's a good idea to devalue the currency, just that we're doing it worse than they are. In a world of national currencies pyramided on national debt, they don't hold a candle to our imbecility on the subject.
China is spending a lot of money to take over African resources and put their people in charge, and the Africans are starting to get suspicious and angry.
Their model of building sewer systems and other infrastructure in exchange for mineral resources is pretty brilliant. A damn sight better than our strategy of invading the Middle East and selling weapons for oil in the long term. China is trying to turn Africa into a better customer. This will benefit the world.
Finally, the increased amount of stuff that the western world is not buying from them anymore is stacking up.
They export over half a trillion dollars in goods to the US and EU. That took a hit when the US and EU economies went on the skids, but I think it is shortsighted to expect that the domestic Chinese market won't grow. They have more of their own people to sell things to than can be found in both the EU and US. As their capital investment and productivity continue to grow, so will this market.
I give them 5 years, tops.
5 years before what, exactly?
China Rising bump for later........
Your post on this thread is very interesting
>>We’re actually accusing them of overvaluing their currency. Currency devaluation can go on for decades (see: United States Federal Reserve System) or even centuries (see: Roman Empire denarius). I’m not saying it’s a good idea to devalue the currency, just that we’re doing it worse than they are. In a world of national currencies pyramided on national debt, they don’t hold a candle to our imbecility on the subject.
The problem is that they have debt after financing the construction of massive projects to build a %10 growth facade the cannot maintain. They make and make, and then they cook the books to pretend that the people that don’t exist that are supposed to be inhabiting the cities that have no inhabitants are producing the profits that don’t exist either. In America, we count the houses in foreclosure. In China, they create houses that have no people in them.
>>Their model of building sewer systems and other infrastructure in exchange for mineral resources is pretty brilliant. A damn sight better than our strategy of invading the Middle East and selling weapons for oil in the long term. China is trying to turn Africa into a better customer. This will benefit the world.
True, and I agree, but the Chinese are in charge. If they did it by proxy by simply exporting money and standards for the flow of money, it wouldn’t offend the Africans. Instead, they import a bunch of Chinese and tell them what to do. I think Joseph Conrad wrote a book about that.
>>They export over half a trillion dollars in goods to the US and EU. That took a hit when the US and EU economies went on the skids, but I think it is shortsighted to expect that the domestic Chinese market won’t grow. They have more of their own people to sell things to than can be found in both the EU and US. As their capital investment and productivity continue to grow, so will this market.
The problem is not growth. The problem is that they are painting all the red ink in their ledger books with white-out.
>>5 years before what, exactly?
Either rebellion from the citizens (devalued currency leading to expensive foodstuffs) or war to continue sustainability. When the Chinese economy hits its first pothole, and the world realizes that the Chinese economic engine has really hit a sinkhole, China will do something drastic.
China's debt to GDP is ~17%, which ranks them 109 out of 129 countries. Leagues better than any Western state you'd like to compare them to, and they also have massive reserves of foreign currency and sovereign debt.
Think about the hundreds of billions we've pissed away on 'nation-building' in the last decade (on money borrowed from overseas lenders like... China)? I think the US is sadly digging the hole faster and deeper than China. Just not enough people realize it yet.
I'm not saying they're not making mistakes. They're certainly going to have wasteful make work projects and malinvestment so long as they retain any remnants of the CCP. But I could also show you pictures of amazing skylines and vehicle choked roads, all built in the last two decades. China is now the #1 automobile market, and they're not just sitting on lots gathering dust. They have hundreds of millions of people still to be put into modern housing as they come off the farm over the next few decades. We have no clue what those satellite photos are of or for. I'm going to reserve judgment without context.
Instead, they import a bunch of Chinese and tell them what to do.
The Chinese write contracts to buy mineral rights. A (large) portion of the proceeds are then used to build infrastructure with the purchase of Chinese built capital goods (bulldozers, back hoes, pipes, etc.) and Chinese engineers and experts, but the 'day labor' part is done by locales. This kind of investment certainly pisses off the Africans who have Swiss bank accounts and are used to pocketing most of the money that foreigners bring, but to the average African who gains access to plumbing and a paying job it has been a godsend. I think it is a serious mistake to try and twist this into some sort of evil. If governments are going to negotiate these international trade deals, this is practically the best that could be hoped for.
Either rebellion from the citizens (devalued currency leading to expensive foodstuffs) or war to continue sustainability. When the Chinese economy hits its first pothole, and the world realizes that the Chinese economic engine has really hit a sinkhole, China will do something drastic.
I think they're a lot more patient than you give credit for. Visit any math department in any US university and you'll see they're versed on the subject. They merely have to capitalize their workers to half the level of ours and they'll have twice the economy. That time is rapidly approaching because they're not trying to 'GOSPLAN' that capitalization, but instead inviting the investment and expertise from abroad to accomplish it.
To my way of thinking, with the mobility of capital, ideas and people in this day and age, the idea that China's workforce will forever remain less than 25% as capitalized as America's is just absurd.
I won't be surprised if the Chinese property and stock markets go through crashes with a government managed currency. It certainly has happened in the US several times.
My biggest hope is that the rural have nots in China, who are not enjoying goodies nearly as much as the wealthier urban
Chinese, will launch a modern cultural revolution.
A destabilized China, pre-occupied with internal strife, can’t go on an azz kicking tour the Pacific and beyond.
It would also be humorous to see all the Benedict Arnold US manufacturers there have to go find a new wage slave market.
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