Posted on 06/23/2011 7:27:24 AM PDT by george76
In less than 40 years India will overtake the US as the world’s second-largest trading nation, pushing today's superpower into third place and Europe in to the little leagues, according to a new report by Citi.
...
“Western Europe on the other hand, in 2010 by far the largest region in terms of trade with 34 percent of world trade — already down from 48 percent in 1990 — is expected to account for 19 percent of world trade by 2030 and 15 percent by 2050,” ...
“Similar declines in relative trade shares as for Western Europe are projected for North America and Japan, despite healthy increases in absolute levels of trade projected for each one of these regions,”
(Excerpt) Read more at cnbc.com ...
The fruits of outsourcing.
Yay, another Obama’s first-est, unprecedented, most awesome awesomeness, accomplishments.
4 more years! 4 more years! Another 4 more years, and maybe we will be able to compete with Sri Lanka.
Unexpected.
“The fruits of outsourcing.”
But, but... at the height of the outsourcing spree freepers would bash me when I complained. “Businesses have to make money” “It will free us up for more important work” “It’s better for everyone”
Hmmmmmmm.
Is this before or after the Sino-Indian nuclear war?
What a bunch of statistical claptrap.
Notice how they use PERCENTAGES to create a “decline” when in reality, EVERYONE IS GROWING at phenomenal rates.
Given that Asia has vast population sizes vs US and Europe, OF COURSE they’ll grow as their standard of living per person increases. And the total trade will of course move faster forward, EVEN IF THE WEST doubles our trade every 30 years.
“Fruits of outsourcing?” What a silly comment. Less outsourcing and less international trade means that we “lose” some percentage even faster. You can’t do anything about the percentage if their population are getting their heads above poverty.
What is the alternative? Nuke them now and keep their entire population in sandals an mud huts? Idiotic article.
From the article’s numbers (with calculated totals added)
world trade in goods and services
$37 trillion in 2010
$149 trillion in 2030
$371 trillion in 2050
Developing Asia
24 percent of world trade in 2010, ($8.8T)
42 percent by 2030 ($62.6T)
46 percent by 2050 ($170T)
Western Europe
34 percent of world trade in 2010 ($12.58T)
19 percent of world trade by 2030 ($28.3T)
15 percent by 2050 ($55.6T)
Im with you, the out sourcing Thing was a wad of BS from weak kneed, spineless ‘business leaders’ unwilling to take on the big challenges of long term business health. Rather than beat the Congress bloody they opted for the short term easy gain of going off shore. Not only has it lead to this BUT they’ve lost billions in stolen IP and rework b/c of shoddy workmanship. Anyone could have seen where it was headed but...
The article is taking what might amount to a statistical glitch and extrapolating the trend over 40 years. I’m not sure that this is a cause for panic. Obama has damaged our economy but if we can get him out of office next year, the damage can be corrected.
40 years? Does anyone think this craziness can go on for another 40 years? I don’t care if you believe in prophecy or not, the sh*t is going to hit the fan for real long before 40 years is up.
Its still a long way but India has earned it.
How did they earn it?
The US taxpayer paid for their infrastructure upgrade in the 1990s so transnational trash corporations could move their call centers and other outsourcing to India.
The Indian government with the help of the transnational trash corporations corrupted our congress to meet THEIR requirements for immigration and H1B visas, not what the American people wanted.
They use slave labor which is in opposition of our 13th amendment to the Constitution and child labor which opposes our industrial health and safety rules.
What did they earn?
The lust of the transnational trash corporations who saw a marketplace of a billion people and used corruption of the US government to fund the creation of a market that never existed.
That is not free market, that is not ethical, that is not ‘earned’.
They opted to go offshore, and the US taxpayer covered any risk by actually funding the infrastructure construction these transnational trash corporations needed to do business there. The US government promoted offshoring providing many benefits and incentives to the trash corporations that did it.
They used tax money from wage earning Americans to pay for it before putting them out of work.
Tons of article posted on this topic for the last 10 years here. Look at USAID, the US State Department and the USTR for references on their commitments of US taxpayer money to the global trash corporations and the third world.
There has been quite a lot of treason and economic warfare against America so that India could ‘achieve’ this.
can you say this for china ??
“The US taxpayer paid for their infrastructure upgrade in the 1990s “
When did US government pay for Indian infrastructure?
“The Indian government with the help of the transnational trash corporations corrupted our congress to meet THEIR requirements for immigration and H1B visas, not what the American people wanted.”
Indian government didnt do any such thing. India opened her economy to foreign investment. Carried out economic reforms and created favorable conditions for foreign investment. That is not the same as corrupting US Congress. Indian government has absolutely NO leverage over US congress. And only very recently after Bush came into power did US pay any attention to India at all. And Indian economy is far bigger then a few H-1Bs who aren't actually making any direct contribution to Indian economy except via some remittances. Their economic and intellectual contribution goes almost entirely to US economy and industry. They even pay taxes to US government. The US gained a lot more out of the immigrant workers then did India. So your commentary is a whole lot of bull.
“They use slave labor which is in opposition of our 13th amendment to the Constitution and child labor which opposes our industrial health and safety rules.”
Pure exaggeration. First of all there is no slave labor. People working at call centers and software companies are educated youth not slave laborers. And while child labor is illegal in India but there are still cases of that happening in many places, but its pure exaggeration to say Indian economy is booming because of child labor.
What did they earn? Here is what they earned.....
India invested in education in a big way. Today a poor developing country like India produces far more graduates in hard core science and engineering then US and Europe combined. They worked to created a stable, functional democracy with strong judiciary, a western style constitution, freedom of speech and individual rights that can rival the US. They reformed their economy and opened their market to foreign competition. From where they once started out, they were among the poorest countries in the world, Nixon once called India “a basket case”(today India is the bread basket of Asia) that saw seasonal drought famine and mass starvation on biblical scale. Today India is the second fastest growing economy. Yes they EARNED it and it had NOTHING to do with US.
Good point...moving was made easy by govt bribes. Theres a recurring theme here. Anyone stupid enough to take govt $ should be aware the reaming will be not far behind.
US aid to India last year was $81 million... to a country that has a 1 Trillion dollar economy. Indian governmental aid to Afghanistan, Nepal, Sri Lanka and West African nations is $500 million. lol
US aid to India last year was $81 million... to a country that has a 1 Trillion dollar economy. Indian governmental aid to Afghanistan, Nepal, Sri Lanka and West African nations is $500 million. lol
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