Posted on 06/26/2005 5:56:11 AM PDT by TigerLikesRooster
Ping!
I am REALLY wondering what the Chinese economy looks like right now......
we hear nothing but doom and gloom about our economy, but at least we are open about it.
What debts MUST the Chinese have?
And just HOW is this different from....
Young AMERICANS spending tomorrow's money(spoiled-rotten new generation)
Yes, by all means, encourage them. Them send over the Hollywood products. Their doom will be sealed.
China made many bad investments, a lot of public works and construction, which may not yield much revenue. And China's financial system is in a holy mess, which they won't be not able to clean up. As bad as U.S. economy might be, China is much worse.
by the order of a magnitude or two. Since they have parents they can count on, their spending binge would be much higher.
Well, the Chinese are catching up to us. Soon they will be up to their ears in debt, overweight, lose their work ethic, demand instant gratification in all things …
yep
I wonder when they will collapse?
She's clearing over $8500 a year after taxes? That's doing very well indeed. If memory serves, that means in U.S. terms that would be over $50,000 equivalent in buying power in the U.S. With no living expenses to speak of, yes, she can afford to take taxis if she likes.
China's financial system is an awful mess.
In essence, china forces its people to save in state banks (there're no ther savings avenues) and uses these bank deposits to keep afloat insolvent state firms that should've died long ago. A single shock can reverberate throughout the system and bring stuff to a near-collapse.
"Shen earns a decent monthly income of around 6,000 yuan (726 US dollars)"
All lies, all China workers earn $100 a month. I heard it on FR! ;?o)
I wonder if they will impose mandated "private savings" accounts?
Youth!
Not just any youth, but youth with wealthy parents, spoiled-rotten only child, hitching on a massive China bubble, feeling it would last forever.
These kids today... the clothes they wear, their hair, the way they sass their parents, and their music -- well, it's just noise. And they don't study, and they're lazy. Why, when I was a kid, I walked 5 miles to and from school. In waist-high snow. And it was uphill both directions. And I was barefoot. But did I complain? No, I was grateful for the opportunity...
So, it seems China will expierence what the United States experience between 1870 and today, but faster. Rapid industrialisation, "Robber Barons", fast wealth accumulation. Their big problems, also coming up fast, is a middle class funk leading to social unrest and a possible civil crisis. The one child policy will mean this century will not be the "Chinese century". I think India will eclipse China; possible within 10 years.
You left out the part about the snow...
dad???
They will sacrifice and work together to defeat a common enemy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.