[Happy2BMe]

Europe should be concerned. Red flags going up all over it seems.

[Happy2BMe]

China advances - world markets shudder - ping.

_______________________________________________

China's lightning advance into the production of cars, computers and high-tech industry poses a serious threat to Europe's economic base, according to a report by the European Commission.

[Brilliant]

Europe has no clue how economics works. They think they can solve their economic problems by imposing trade barriers. They don't understand that there are benefits to be obtained from foreign trade. They don't realize that there are other ways to keep their people employed besides blocking foreign trade which might benefit them. All they have to do is stimulate their economy with a little monetary growth and/or tax relief.

[glorgau]

The 354-page report,...

Says it all.

[bahblahbah]

"The deficit is expected to be much higher in 2004 as the euro reaches historic highs against the Chinese yuan. The yuan is pegged artificially to the dollar. The effect is to give Chinese exporters a massive competitive boost against European firms, a situation that is unlikely to be tolerated much longer as economic growth stalls in the Germany and Italy."

5 Step plan for a better economy.
1) Get China to unpeg the yuan.
2) Pass Bush's energy policy.
3) Drastically simplify the tax code.
4) Pass partial privatization of Social Security.
5) Cut government and reduce pork belly spending.

Optional :p
-) Legalize and tax marijuana. Use that money to fund both the rest of the war on drugs, homeland security, and the border patrol.
-) Encourage NAFTA imperialism. Farm land is cheaper in Mexico, so if you can't afford or find land in the US go down there. NAFTA allows up to 49% of Mexico to be owned by foreign entities and there's ways to get around that limit. If we are going to end up being a big North American country we might as well position ourselves well.

[kizzdogg]

ping

[ken21]

german labor has been over-priced + german products over-rated for decades.

not to mention their penchant for long vacations.

[sarasmom]

I am confused!
Wasn't Europe just recently cheering on the Chinese when they were causing problems to the USA's industrial and manufacturing base?
Isn't Europe going to have to buy "natural" SARS and human waste fertilised, e-coli infected produce from China instead of the USA's "tainted" genetically "tampered with" food products?
Aren't the former African Colonies decreasing food exports to Europe due too no food being available to export?

ROTFLMAO!
Can someone more capable than I please overlay a map of "Old Europe" onto the CONUS?

[oceanview]

this is the move we are looking for. the dollar decline is designed to get the euros and Japan on board to forcing china to remove their dollar currency peg.

[Poohbah]

China's lightning advance into the production of cars, computers and high-tech industry poses a serious threat to Europe's economic base, according to a report by the European Commission.

1. Europe has an economic base? Quit joshing me!

2. Long before China becomes the economic superpower, Europe's going to be sliding into a new Dark Age of Islamism.

[potlatch]

Europe should be concerned. Red flags going up all over it seems.

That's pretty much what I was going to say as I was reading the article. They spend all their time running down the USA but they better start straightening out their own countries!

[snowsislander]

I think that the report is worth reading in the original; Mr. Pritchard-Evans' article is too short to do justice to the original report. The section on China starts on page 302 and goes through page 354. I found the writing style quite approachable.

[Polybius]

The Commission blamed much of Europe's sluggish performance on suffocating red tape.

Funny how Red China is now less socialistic than the European Union. ;-)

[JeffersonRepublic.com]

Europe is in trouble. The fall of the dollar and the yuan, is going to be their down fall. Currently their economies have stopped growing, their products are overpriced and the quality of their products are crap.

[azhenfud]

"Red flags going up all over it seems."

Yep - with little gold stars....

[however1]

One of the reasons that Euros want to sell weapons to China. To balance the dificit.