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Our fading 'superpower'
The Pittsburgh Post-Gazette ^
| Wednesday, September 29, 2004
| Dan Simpson
Posted on 09/29/2004 10:12:39 AM PDT by Willie Green
With an overstretched military and economic vulnerability, America can be eclipsed by China in key ways
It could simply be this year's edition of the morose introspection that sometimes accompanies autumn. But it could also be the case that the relatively short epoch of the United States as the world's sole superpower is drawing to a close.
A U.N. Conference on Trade and Development report released last week indicated that China was the largest recipient of foreign direct investment in 2003, having overtaken the United States. In the past year, foreign investment in the United States had dropped by 53 percent, taking it to the lowest level in 12 years.
The Chinese growth rate is now projected for this year at 9.6 percent. The U.S. economy is estimated to grow only at a respectable but unexciting 4.4 percent, less than half the Chinese rate.
U.S. manufacturing and service jobs are being outsourced to China and India. China is graduating thousands more engineers and scientists per year than the United States.
The United States is dependent on huge dollops of Chinese purchases of U.S. Treasury bonds to be able to continue to finance the soaring Bush administration budget deficit. A precipitous drop in Chinese confidence in the health of the American economy would be disastrous in financial terms for the United States.
(Excerpt) Read more at post-gazette.com ...
TOPICS: Business/Economy; Culture/Society; Editorial; Foreign Affairs; Government
KEYWORDS: chickenlittle; china; doomgloom; eeyore; globalism; golbalism; goodbycruelworld; itsoveritsover; joebtfsplk; killmenow; labor; nationalsecurity; superpower; thebusheconomy; theskyisfalling; trade; weredoomed; willieisaboob
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To: Willie Green
with half our debt obligations being owed to foreign creditors. in DOLLARS, printed by us.
141
posted on
10/04/2004 12:32:41 AM PDT
by
Cronos
(W2K4)
To: kabar
An antiquated banking system, an oppressive political system, and lack of investment in R&D don't bode well for China becoming a developed country.
Good points -- though I would call their banking system an almost non-existent ones, it seems like the banks are just around to prop up ailing state industries. Chinese people are vey innovative and entrepreneurial but the Communists don't want individuals to do well -- it could challenge the govt so they suppress the businessmen. That's why China has next to no home-grown multi-nationals -- it's largest factories are set up by outside companies. Contrast this with it's neighbour India which has quite a few in the global 1000. That's why I still say a democracy will win against a communist state in the long term
142
posted on
10/04/2004 12:38:38 AM PDT
by
Cronos
(W2K4)
To: Willie Green
12: Bush has a plan to reform the tax code and begin the dismantling of SS and Medicare in his 2nd term.
WG: Fat chance, the boob has already drasticly expanded Medicare.
do you MIND not talking about our President that way?
143
posted on
10/04/2004 12:39:32 AM PDT
by
Cronos
(W2K4)
To: WilliamofCarmichael
Who made India a knowledge-power?
Quite simply it was the fact that India had an excess of engineering grads at a time when the supply in our market was low and the demand high. Many came over and became an integral part of OUR IT industries. Then, the companies realised that it woudl be cheaper to hire the Indians in their own country rather than hiring them here.
144
posted on
10/04/2004 1:34:45 AM PDT
by
Cronos
(W2K4)
To: ArGee; A. Pole
China and India have been around much longer, but haven't done squat for their people. Their civilizations are very much "sprouts."
Well, actually, you're both correct AND incorrect -- from a civilisational point of view, China and India WERE oaks until the 1700s when they went into decline and remained in decline throughout the 1800s (their conquest by European powers was a symptom of that decline and to some extent also the cause). Now, civilisationally, they are far more surer than the US so could be called oaks in comparison to our sapling. However, economically they ARE sprouts compared to our oak
145
posted on
10/04/2004 1:49:07 AM PDT
by
Cronos
(W2K4)
To: Lazamataz
I cut mortals to pieces with this sharp, deadly weapon.
Say, Loki, is that you masquerading under another name? ;-P
146
posted on
10/04/2004 2:08:12 AM PDT
by
Cronos
(W2K4)
To: WestVirginiaRebel
Their standard of living does not and will never match ours
That's a blanket statement -- they do not currently match our standard of living. They may match it, but decades in the future, if at all. Of course, by 2100 Burkina Faso could be a first world nation for all we know -- prediction more than a decade in the future is pretty silly
147
posted on
10/04/2004 2:09:55 AM PDT
by
Cronos
(W2K4)
To: Cronos
do you MIND not talking about our President that way?Why? Is he some kind of anointed deity or something?
Am I being blasphemous, mean-spirited or judgemental?
LOL! Here's a clue for you: In the good ol' US of A, I have the God-given inalienable right as a sovereign citizen to call the prez a "boob" if I want to. Despite the high office to which he was properly elected (not "selected" as some bozos claim), he is still just a humble public servent. And if in my good judgement his performance is that of a "boob", then I'll call him a "boob" if I want to.
To: Cronos
"I would mostly guess that China and India -- the two big population centers will spend the next century bringing their entire huge populations to a decent standard of living. They won't be a threat."
-I do believe you are right, sir.
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