Could China Be the Next Greece?

[Oldman1]

As the Chinese worked long hours no doubt they want to get their hands on more money as they see Chinese business people driving around in BMWs, Lexus, Mercedes, etc. We already seen protests at factories making iPads and so on. They want increase pay and better working conditions which means less profit for companies which means products become more expensive. Inflation will go up. We have seen evidence of Chinese actions to look for more oil production fields because they know that with their population of more than a billion people who wants cars and spends money on products that Americans love that it will drain their treasury. More cars means more money spent on oil and gas. How much do the Chinese make in those sweat shops? 2 dollars a day?

 

[Jikki]

As the Chinese worked long hours no doubt they want to get their hands on more money as they see Chinese business people driving around in BMWs, Lexus, Mercedes, etc. We already seen protests at factories making iPads and so on. They want increase pay and better working conditions which means less profit for companies which means products become more expensive. Inflation will go up. We have seen evidence of Chinese actions to look for more oil production fields because they know that with their population of more than a billion people who wants cars and spends money on products that Americans love that it will drain their treasury. More cars means more money spent on oil and gas. How much do the Chinese make in those sweat shops? 2 dollars a day?

If china defaults which is possible considering their non revenue generating fixed investments, then there will be terrible social unrest. Evne the CCP is already strained with millions wanting to return to the way of chmn Mao. There could be a mutiny within the party. And remember china has nukes. But the problem will be if refugees start pouring into India.
Well they can avoid this if they invest in clean technologies which makes money. Also their people should be given social welfare with the much tomtom'd 3trillion. Only then I see china surviving. All the best.

 

[Chinese-Dragon]

As the Chinese worked long hours no doubt they want to get their hands on more money as they see Chinese business people driving around in BMWs, Lexus, Mercedes, etc. We already seen protests at factories making iPads and so on. They want increase pay and better working conditions which means less profit for companies which means products become more expensive. Inflation will go up. We have seen evidence of Chinese actions to look for more oil production fields because they know that with their population of more than a billion people who wants cars and spends money on products that Americans love that it will drain their treasury. More cars means more money spent on oil and gas. How much do the Chinese make in those sweat shops? 2 dollars a day?

To answer the thead title Oldman, for China to be like Greece (i.e. at risk of a default) is almost zero, due to our $3 trillion in reserves, and our double-digit economic growth.

How long will it take to wear down $3 trillion in spare cash? Once it goes lower than a few hundred billion, then you might start to worry.

The country that is seriously considering "default" at this stage, is actually the USA.

Obama enters deficit negotiations as default threat looms - USATODAY.com

 

[Chinese-Dragon]

If china defaults which is possible considering their non revenue generating fixed investments, then there will be terrible social unrest. Evne the CCP is already strained with millions wanting to return to the way of chmn Mao. There could be a mutiny within the party. And remember china has nukes. But the problem will be if refugees start pouring into India.
Well they can avoid this if they invest in clean technologies which makes money. Also their people should be given social welfare with the much tomtom'd 3trillion. Only then I see china surviving. All the best.

Oh yeah, Chinese refugees will start pouring into India? Even though the average income in China is four times higher than in India?

Even our currency reserves alone, are double the size of the Indian GDP.

If there is a crisis, the last place they will go is India, i.e. the country with more poverty than Africa.

 

[jdme]

Oh yeah, Chinese refugees will start pouring into India? Even though the average income in China is four times higher than in India?

Even our currency reserves alone, are double the size of the Indian GDP.

If there is a crisis, the last place they will go is India, i.e. the country with more poverty than Africa.

'
LOL. You have to give it to my fellow countrymen, their delusion knows no bound!

 

[Brotherhood]

Oh yeah, Chinese refugees will start pouring into India? Even though the average income in China is four times higher than in India?

Even our currency reserves alone, are double the size of the Indian GDP.

If there is a crisis, the last place they will go is India, i.e. the country with more poverty than Africa.

Typical nonsense topic of some so-called China collapse predictions posted by an Indian, nothing new though
CD, I don't know have you read a rare honest comment from an Indian: " yeah, starving Indians mocking well feed Chinese having no freedom" Like an old Chinese wisdom="Jealousy lead to hatred" say it all.
As usual, the most disgusting species are those shameless "false flagger" hiding behind a US flag lashing out venom to satisfy his jealousy of China, poor Indian.

 

[below_freezing]

As the Chinese worked long hours no doubt they want to get their hands on more money as they see Chinese business people driving around in BMWs, Lexus, Mercedes, etc. We already seen protests at factories making iPads and so on. They want increase pay and better working conditions which means less profit for companies which means products become more expensive. Inflation will go up. We have seen evidence of Chinese actions to look for more oil production fields because they know that with their population of more than a billion people who wants cars and spends money on products that Americans love that it will drain their treasury. More cars means more money spent on oil and gas. How much do the Chinese make in those sweat shops? 2 dollars a day?

2000-3000 RMB (300-450 USD) per month, average hours is 10 per day 2 days of rest per 7 days (not necessarily weekend). This is for export assembly requiring only a middle school education. College educated workers with a few years of experience typically make double that. Unfortunately our average is dragged down by the 40% of the population still on farms.

 

[ephone]

I cannot believe some american still has time to lecture at China when his own house is burning down just at the same time.

Can you save some energy to save yours first? You have a deadline to meet!!!

 

[siegecrossbow]

2000-3000 RMB (300-450 USD) per month, average hours is 10 per day 2 days of rest per 7 days (not necessarily weekend). This is for export assembly requiring only a middle school education. College educated workers with a few years of experience typically make double that. Unfortunately our average is dragged down by the 40% of the population still on farms.

I don't think having a large agricultural population is a bad thing. They are necessary for producing a stable supply of food and people who grew up in villages are generally more resilient and hardworking than the "fu er dais" in the cities. As General Qi Jiguang observed during the Wokou Wars villagers make far better soldiers than the city folks. What we need to do is to improve education in the rural areas.

 

[below_freezing]

I don't think having a large agricultural population is a bad thing. They are necessary for producing a stable supply of food and people who grew up in villages are generally more resilient and hardworking than the "fu er dais" in the cities. As General Qi Jiguang observed during the Wokou Wars villagers make far better soldiers than the city folks. What we need to do is to improve education in the rural areas.

Farming can be mechanized. Most countries only need <5% of the population in agricultural production and maybe an additional 15% to support them. The remaining half of the rural population should be urbanized.

 

[Dharmachakra]

cannot help LOL...

the US should be next the Greece's situation, 14 trillion debt will technically render the Federal Government to close.

I am confident that China is the LAST country in the world to be the next Greece.

US can make those holding its dollar as reserve go bankrupt if it has to. Covering up of its internal debt is of no concern if it comes to putting those printing machines at work.
Then what you think will be the consequences? A crashing dollar will put pressure on gas prices all over the world and they soar to the skies.Even if the trading currency has to be changed, its not a one day job.Still US economy will be largest in the world.
And guess who will take the sh!t when US starts printing those bills? Its main creditors.( mainly china will feel the pain. Even a word of printing coming from the horses mouth will make those central banks in China piss in their pants( ask them or any other economist)
chinas economy is export ridden, if you believe it or not. A worthless dollar will make China redundant.Then why will americans buy from china when chinese yuan is valuable than dollar itself?

I dont say, that yankees will be taking a fresh breath after starting a printing job. It raises their inflation( but can be controlled) and other issues. But certainly puts a BIG dent on chinas hard earned money (earned by exporting low cost goods)

Also you should know how interlinked the current day economies are.{ One of the reason why India is still worried about completely opening its economy to outsiders,it is still playing safe}.Another deep recession in US this time will add much more pressure on chinese and japanese economies.Japanese economy is already going down for many reasons including natural disasters.

 

[zombieland]

Something to bring you back to reality.

Ghost towns of China: Satellite images show cities lying completely deserted | Mail Online
The infrastructure bubble in China ....

As the author notes, we have $3 trillion in currency reserves, which is twice the GDP of Russia. There is no way we can default with that.

 

[jdme]

People must realize that US "prints" dollar while rest of the world has to earn it. Most of the US debt is not "foreign".

 

[khurasaan1]

What if Allah is not willing? What will you do then? What is the appeal process? You pray harder and more than five times a day? Please stop this pretentious and overt display of religiosity.

Alhamdolillah! Allah has cursed US and its allies for killing innocent pplz around the world soon it will be bankrupt and disintegrated into hundred pieces....then there will be nothing to say in favor of this US.....and their allies will suffer the same concequences due to their contribution in the US evil games......Nobody can deny the facts and the whole world is watching what is going on with the US economically as well as militarily......
Remaining ure Question What Allah is willing or not willing ?.......u can go read Holy Quran to find its answer or even BIBLE or even TAURAH....u r going to find the same answer...is curse from Allah SBWT who kills or tries to kill innocent pplz and dont obey God/Allah SBWT.....
plz dont take my posts against u or ordinary pplz in US there but the evil pplz there who got no feelings for the ordinary innocent humans around the world....
I'm sorry if my post hurt ure feelings but what I can do whenever I go read Holy Quran and watch what US is doing, I compare it with Holy Quran statements and found whatever I wrote above....
I dont want US be cursed or anybody be cursed by Allah SBWT but what we can do ....its US own choice ....
Yes! there is a way if US repents for all his killingz and misdeedz.....asks forgiveness from Allah SBWT sincerely from the depth of its hearth and becomes saviour of the innocent pplz instead of killing then around the world ....Follow Holy Quran in its true sense then Allah SBWT might forgive it....and its true for everybody.......everything is written in Holy Quran.....Subhan-Allah.....

 

[siegecrossbow]

People must realize that US "prints" dollar while rest of the world has to earn it. Most of the US debt is not "foreign".

Works well on the short run ... However wealth couldn't be created by printing money forever. Better way to improve the U.S. economy is investing more money in innovative technologies.