"Some commentators have predicted that China’s reign as the world’s largest economy would not last long. This may be true. While China has made great strides since adopting free-market reforms in the 1970s, China is still run by an authoritarian government whose economic policies distort the market in order to benefit state-favored industries. These state-favored businesses are often controlled by politically-powerful individuals." (read the whole thing)
11 comments:
The democrats and most of the GOP (ignorant John McCain types) want to run our government on lies, quantitative easing, cronyism, bailouts, bureaucratic favoritism, and subsidies.
I won't work and it will fail.
"What many of these commentators fail to notice is that the American government pursues many of the same flawed policies as the Chinese. For example, because of the increase in regulations, subsidies, and bailouts, many American businesses are putting more resources into manipulating the political process than producing goods and services desired by consumers. Many big businesses even lobby Congress and the federal bureaucracy for new regulations on their industries. They do this because big business can more easily absorb the costs of complying with the new regulations that force their smaller competitors out of business.
China is regularly criticized by American protectionists for subsidizing its export industries. However, the US government does the same thing via programs such as the Export-Import Bank. China is also criticized for manipulating the value of its currency to make its exports more attractive to foreign consumers. This may well be true, but China is hardly unique in this respect. Throughout its history, the Federal Reserve has manipulated both the domestic and international economy, often working in partnership with foreign central banks."
yes.
We need to stop China from surpassing the U.S. so we get to keep the trophy.
One thing about that measure of economic size: without the business created, funded, and traded through U.S. companies and consumers, they are much smaller. In a way, much of the Chinese economy is just more U.S. economy located offshore. An actual case of "you didn't build that."
Also without China making our stuff, we would be unable to afford our standard of living, and increased productivity. It is a symbiosis forced on us by our own greed. We want higher pay, more benefits, safer working condition, cleaner environment, and rights, rights rights. Those thing all have enormous costs, and after all those demands made on employers, we also want cheap stuff. What else could possibly happen other than the jobs moving there?
See, even when people are warned and understand that getting what they want now means it will cost them later, the masses always choose immediate gratification. Democracy is self-limiting in it's own way. It just takes longer.
The Reds are building Potemkin cities all over Africa to keep their economy going.
It can't be sustained and people are already talking about a Chinese bubble.
bagoh20 said...
Also without China making our stuff, we would be unable to afford our standard of living, and increased productivity. It is a symbiosis forced on us by our own greed. We want higher pay, more benefits, safer working condition, cleaner environment, and rights, rights rights. Those thing all have enormous costs, and after all those demands made on employers, we also want cheap stuff. What else could possibly happen other than the jobs moving there?
Jobs were moving overseas long before Red China was "opened". Unions, taxes, and regulations moved those jobs out of the country.
Before (and after) WWII, it was "Made In Japan". Then "Hecho En Mexico".
Always someplace.
See, even when people are warned and understand that getting what they want now means it will cost them later, the masses always choose immediate gratification. Democracy is self-limiting in it's own way. It just takes longer.
Not unlike the Darwin Awards.
I, for one, welcome our new Chinese overlords.
Don't worry Flukes, the Chinese love abortions. They are not known for their great treatment of minorities however, or love of diversity.
I'm hardly going to believe Ron Paul is an expert on anything other than, maybe, his field of medicine and local politics...his knowledge of how stuff really works internationally is scant.
Bagoh20 gets it right:
Also without China making our stuff, we would be unable to afford our standard of living...
Substitute for China many other places as well...my latest blue jeans come from Sri Lanka...straight legs with no flair and low rise fit. We used to make those here and they were the favorite of western horsemen everywhere. You bought them and inch or so too long so your straight cuff rode up on your spurs. Last Yankee pair I have are "Wrangler" brand...from 30 years ago. MY recent purchase cost $50 per pair, and one local made option (high rise fruitcake variety) was $100 per pair. That's a long ways from the $28 cost not so long ago.
China is also on its way to becoming the nation with the most Christians.
Religion debates of the 22nd century will be very different than religion debates of this century.
Also, all is going as predicted...
The most incredible thing about our age is that America's astounding prosperity (relative to world history and most of the rest of the world today) will continue. And it will continue despite massive unemployment and a scandalous number of jobs that are make work only, primarily in government. And despite the drag weight of punitive taxation and regulation. Simply because the advances in technology have been of such magnitude that...well, you know the rest.
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