Forum Post: Wall St. Will be irrelevant in 20 years When China becomes the economic superpower of the world.
Posted 12 years ago on Oct. 24, 2011, 10:41 a.m. EST by paplanner
(58)
from Mt Union, PA
This content is user submitted and not an official statement
As the United States runs around the world squandering its national wealth by bombing numerous countries into submission on behalf of the Wall St/Washington axis of kleptocracy, the Chinese are running around the world investing hundreds of billions of real capital in resource development, infrastructure, health care and technology, creating opportunities and jobs while at the same time achieving the largest reduction of poverty in the history of the world. The Wall Street/Washington Axis of Evil is just making it easier for the Chinese to accomplish what they are. And to be brutally honest about it, this is probably a good thing for humanity and only a bad thing for those currently plundering the globe.
Amen
We don't have 20 years. We have 1 to 2 yrs at best before global economic meltdown. Also, cracks in the Chinese economic juggernaut are showing as well: it seems corruption and fraud are also rampant in Chinese banks
http://www.collapsenet.com/free-resources/collapsenet-public-access/news-alerts/item/3980-china-loan-shark-market-crashes-scores-of-chinese-business-owners-unable-to-pay-black-market-loans-commit-suicide-or-disappear
Also China's central planning is no panacea. They are wasting billions on a 'people mover' mass transit system that no one is going to be able to afford, and basic housing is already ridiculously expensive.
Finally, their environmental degradation for profit-at-all-costs is going to continue to poison their people and also pollute the environment.
Their own people are rising up against their government as well: http://www.collapsenet.com/free-resources/collapsenet-public-access/news-alerts/item/3980-china-loan-shark-market-crashes-scores-of-chinese-business-owners-unable-to-pay-black-market-loans-commit-suicide-or-disappear
HHAHA But Chinese companies are traded on the stock exchange. Also, non superpowers have their own stock exchanges. So even if China becomes the sole super power of the world, why would Wall St no long exist?
Wall street will exist, it will just be a minor player in global economics. China and India will set the rules of the game, and Wall Street and the rest of the west will play by those rules, just like the Chinese have been playing by our rules for 20 years. But remember they have a 2000 year old culture, their rules are likely to be very different than ours.
word
So, learn Mandarin... adapt.
Wow, this statement is false, the reason why their flourish due to the dependency ratio...which states that the less dependents a country has the greater its economy and the cause is due to China restricting birth rates. So when Chinas' working force becomes old and.dependent then.the economy will weaken. This is why we prospered so greatly during the baby Boomer generation, those children helped us prosper(who are now adults) and now we are suffering...
Thank you genius for your simplistic answer to a complicated reality. And guess what Einstein, every generation of Americans has had a lower birth rate than its predecessor. Look at it this way, you got two bullies on the block, one says hang out with me or I'll beat you senseless, now I'll take you to the hospital afterwards and fix you up so I can use you. The other bully says hang out with me and I'll build a factory to process that crop you grow and give you a job so you can feed yourself, and in the meantime I'll do my due diligence to make sure you don't rip me off. Which bully are you gonna hang out with?
Its not that simple...learn some economics...oh and where is proof supporting the declination in our population...this site states otherwise http://www.census.gov/population/www/pop-profile/natproj.html
population growth has little to do with birth rate. It has to do with birth rate/immigration rate v. death rate/emmigration. And don't assume that I need to learn economics, its usually not a good idea to assume anyone is dumber than you are, at least I discovered that during my 65 years on this planet. There is a difference between ignorance and stupidity. The masses may be ignorant but they aren't stupid, the power elite may not be ignorant, but they certainly are demonstrating stupidity. Face it, the U.S. and Western Europe are going to become to China and India, what Britain has been to the U.S., a useful minor player in the game. With China and India I think its going to be the game of global economics rather than global politics. Global politics is too expensive and has a lousy ROI
You are either arguing with a child or a person who speaks English as a second language. Ask yourself what that implies. Either he/she is someone who still believes in fairy tales or he/she is being paid slave labor while running interference. Or it could be a fully grown, American man who never got out of his mom’s basement.
Oh, and you should probably be a bit less impertinent..your lack of respect foe the youth of today is quite egregious...you probably feel that you should be respected due to age but you should grant me the same respect you would desire..especially when in about twenty years you'll be insignificant. :)
In about 20 years I'll be dust in the wind and you will still be ignorant, not stupid, stupidity is a willful act, ignorance is just a lack of knowledge. I have all the respect in the world for a lot of today's young folks, and I have all the scorn in the world for some of today's young folks. Some of you will actually contribute to the betterment of a life other than you own and some of you will destroy yourselves and those around you. Its not like there is anything new under the sun, there have always been assholes, some of us are old and some of you aren't.
And what makes you think me ignorant? Your slights that you attempt to inflict upon me are quite..erroneous, but we do share some similar thoughts I surmise..however are you aware of turn definition of stupidity?
Hah, and again your wrong it has a lot to do with birthrate wow...and yes their is a difference between the two, it doesn't take 65 years to learn literacy..an it seems out of the two, ignorance and stupidity, your problem seems to be the latter.
Look you've got a right to your opinion, no matter how wrong you are. And since you've decided to be an ignorant insulting ass, you don't deserve any response that takes a millisecond of thought.
And likewise you fool...who's the individual who responded with such unnecessary sarcasm in your initial response. And calling me ignorant is quite...Ann anticlimactic remark, I seem to have knowledge that you may once have possessed in life but have since forgotten or possibly never had knowledge of. Oh, and your last rejoinder...hah it must have taken you quite some time to think of you bigot!
I am old enough to remember when these exact things were said of the Japanese. Not saying it won't come true. Just saying it is not the inevitability that some think it is.
The Japanese never did it the way the Chinese are, I'm an old timer too, its not a matter of inevitability. Its a matter of competition, the Chinese model is more acceptable to the developing world than the Western model is. Given the results that the Western model has shown the world over the past 30 years, I doubt that Euro/American crony capitalism has much of a chance of reforming or "rebranding" itself to make much of a dent in that marketplace.
So an authoritative government is preferable to a corrupt representative government? I suppose the case could be made for that but I would think it would be a bit easier to reform the latter.
Its not like Western governments weren't authoritarian during their industrial revolutions. Get serious. Forget about government for a minute. The Chinese, in one generation, have reduced poverty more than any other nation on the face of the planet has been able to. The Chinese are on the cutting edge of clean energy technology, and the Chinese will not allow crony capitalism to undercut their progress. They are dumping US securities at a record pace because they know the dollar is as valueless as the Euro. It doesn't matter what form of government I prefer, the tide of history and well thought out plans are propelling China into global economic dominance, whether they are as stupid as the Americans to try to also exert political and military dominance, they'll go down the tubes too. I'm not going to have to worry about any of it, I don't have that many years left on planet earth. But I can assure you the era of Western dominance is rapidly coming to an end, and your generation is going to have to figure out how to deal with it.
The Chinese are working hard to transform their energy and manufacturing infrastructure into green models. Pretty amazing really. The world's biggest complaint about them being an economic player (massive pollution) is being addressed. And, as would be expected, they are going to yield enormous gains from the development of a sustainable infrastructure. If you think they're a world power now, wait until they finish creating millions of new, safe, non-polluting jobs. It's shocking to me that the U.S. can't do something similar.
You really think it will take 20 years? Ask any country in South East Asia today who the world leader is, and the answer won't be the US. Take a trip to China and look at how they are investing in their future (yes, even out past the end of this quarter - can you imagine that??!!) and you will see that the future is now. It is just the 1% and the media that don't want the rest of us to realize that this countries times are already past. Why else do you think the 1% are so ravenous in their pursuit of money - because they know what the future holds for the rest of us....
The Chinese take fraud and bribery seriously. They aren't easily bought like our politicians. And they don't have corporatist majority on their supreme court. The communist government there has executed bankers and businessmen for fraud.
'Last year, when China executed four bankers for fraud, the reaction in the general business community tended toward jokes about Andy Fastow's good fortune, or comments like, "You think Sarbanes-Oxley is bad?"' - Posted by Tim Reason | CFO.com | US January 4, 2006 8:36 AM ET http://cfo.com/blogs/index.cfm/l_detail/5353578?f=rsspage
http://www.agkaiser.org/posts-2011/Where-Is-the-Money.pdf
http://www.agkaiser.org/endgame/HowDoesThatWork.pdf
I like your way of phrasing it : "The Wall Street/Washington Axis of Evil".... athough I myself would probably call it "The Wall Street/Washington Axis of Pathologically Self-Destructive Stupidity".
Are there psychiatrists for COUNTRIES, I wonder??? AMERICA NEEDS TO SEE A SHRINK, AND FAST !!!!!!