I am not here to speak for Viet Nam but for the US, as a US citizen. But I guess for a racist like you, the idea of a non-white American is too painful to bear so you have to bring in my origin whenever it is about the US.As you like.
I just thought it was strange for a Vietnamese like Gambit to be telling a Hong Konger Iike me about the lifestyle of consumption.
As you like.
I just thought it was strange for a Vietnamese like Gambit to be telling a Hong Konger Iike me about the lifestyle of consumption.
Debate any issue with any Chinese members here, soon enough the race baiting will be out.Thank you. Remember that we are all east asian in culture. Remember we have to consider filial piety. Respect him because he is your elder. This is a common bond we east asians have in common.
Thanks for being considerate.
No...The US want a fair currency valuation ground, of which China refused to comply. China seen the signs, economically and politically. Right now, we can say that China is wisely running a 'managed float' currency policy, but that upward trend of the yuan's valuation is already on the way.
Since 1980, China has been averaging around 10% growth and in 2013, that growth is reduced to about 7.7%. Labor costs in China is rising along with all the signs of a bubble economy the IMF saw in Japan before the yen's re-evaluation. But also since the 1980s, China's economic so called 'miracle' is nothing more than being supported by external consumption -- the US -- and not by internal consumption. The American economic rise in the 18th and 19th centuries were from internal consumption fueled by westward territorial expansion. The American economic rise in the 20th century were from post WW II recovery and technological innovations. None of these are in China. If HK's assessment is correct that the Chinese government will allow the yuan to free float as demanded by economic reality and fair play in five yrs, that will not be enough time for China's middle class to be the primary engine and economic columns to sustain that 7-something percentage growth. The ME is in turmoil. Africa is still developing. And Russia is threatening the EU.
Do you really think that China do not need American consumers when the US is well on the way to being the world's number one energy exporter ?
I predict that in your lifetime, you will know what it is like to wake up in the AM, going to whatever low wage job you have in China, and wonder if 'today' will be your last day on that job because China is no longer the attractive low cost labor destination that it was when you were still depending on ma and pa for a living.
We do not need a trade war with China to make you suffer, kid. Just fair play will do. Enjoy whatever temporary woes you can find about US. I lived thru them before and prospered. Am not a millionaire and there is no swimming pool in my backyard, but I have a house that can hold 3 generations of Chinese comfortably. Unfortunately for you, the shortsightedness from China's leadership, from adopting communism to the current economic policies, you will never know what is it like to live an American middle class lifestyle.
Gambit you did make some fair points. But i beg to differ with you on some as well.
The U.S didnt just emerger as a world superpower/power through internal consumption/westward expansion alone(though it was a major part of it). The U.S had a great depression as well before the second world war, In fact the U.S was also quite Lucky the second world war helped propelled the U.S economy/manufacturing. After the destruction of europe/Asia. the U.S was the only major power who was not affected/destroyed by the war. So it emerged from the war from being a limited regional power to a superpower overnight, and took over from a war ravaged/tired britain. The second world war did help the U.S alot both economically(as it loaned cash to several countries destroyed by the war).
Moreover, China growth is mostly investment driven than though FDI or export nowadays. So if any argument there should be is that the Investment is not sustainable. However their demand is also increasing, and right now they are the second largest importer in the world after the U.S and are set to overtake the U.S less than 3 years from now. So its kind of difficult to look at the country froma simplistic view, ince its more complex than that. Though their demand is still well below their potential or what it should be, but nonetheless its big and will keep increasing.
The advantage China has is that, its still despite its miraculous growth these past decades a poor country, and still has hundreds of millions of people whose demand/capital etc is only set to increase with each pasing year. They still have a large room for growth, and have not yet even reach half of their true potential. This is the only reason why i believe they will overtake the U.S in the cominf decades from now. Its not because the communist party is efficeint or a genuise or whatever(which i think they arent by the way, since i believe had the nationalist won, China will have been open long ago and way way more bigger in all aspect than it is today), its just that they are coming from a low base down, and when you come from such a base , you are only going to go up, given you have at least a decent/average administration.
Even if they acheive just half of what Japan has acheived(productivity/gdp per capital wise) then they will still be twice as big as the U.S economically.
The U.S shouldnt feel bad/uneasy if.when it is overtaken by china, since the U.S will still remain the most influential country in the world for a long time to come, be it culturally, technologically/scientifically etc. This is something that will take China or any other potential power a century/decades to achieve despite if they are bigger than the U.S or not.
