China's Superpower Economy

Heritage Foundation ^ | 12/28/07 | John J. Tkacik, Jr.

[steelboy]

Despite breathless media reports about the World Bank revising downward its estimate for the size of China's economy,[1] what the figures really show is that China has indeed overtaken the United States in manufacturing output. As an industrial giant, China needs to be taken seriously as an international economic force and a strategic and military power

[Clintonfatigued]

Not surprising, given that so many so-called American companies moved out there so they could pay slave wages, pollute at will, and not make worker safety a priority.

[raybbr]

Yeah, but it's a good thing China is overtaking the U.S. in manufacturing. It leaves the U.S. citizen time to shop Wal-mart and buy cheap goods. Because....

As Greenspan says, we will be able to conceptualize ourselves to wealth.

[utherdoul]

also not suprising since they have more than three times our population. Eventually Chinas gdp will overtake ours, its industrial base will overtake ours. Considering their large labor force and lax regulations I’m not suprised at this development.

We should be concrned and we should have the ability to completely pulverize China militarily if we have to, but unless we do that or start breeding like crazy and annexing the hell out of the world there’s not alot we can do on the economic front.

[mc6809e]

Not surprising, given that so many so-called American companies moved out there so they could pay slave wages, pollute at will, and not make worker safety a priority.

Bah. General Motors is offering over $100,000 per worker just to get said worker to consent to being fired.

Who wants to get stuck like GM employing such people? Anyone with any resources capable of setting up manufacturing in the USA is going to see that and put their money elsewhere.

Organized labor screwed itself. Plain and simple. They thought they could gouge and gouge industry forever.

[indthkr]

"As Greenspan says, we will be able to conceptualize ourselves to wealth."

It's a great strategy if your trading "partner(s)" recognize and respect your intellectual property laws and practices. When they don't give a toss about your IP Laws (hmm, I wonder who that could be.......), then I'd say anybody who pursues that kind of strategy better be prepared to bend over and perform the "Ned Beatty Salute".

[indthkr]

"As Greenspan says, we will be able to conceptualize ourselves to wealth."

It's a great strategy if your trading "partner(s)" recognize and respect your intellectual property laws and practices. When they don't give a toss about your IP Laws (hmm, I wonder who that could be.......), then I'd say anybody who pursues that kind of strategy better be prepared to bend over and give the "Ned Beatty Salute".

[hellbender]

We should be very concerned. Our suicidal trade policies created the Chinese monster. It will do no good to be able to pulverize them militarily if they can do the same to us, which will soon be the case. The enormous trade deficit means that they are also increasingly able to buy up our assets. They've already bought favorable treatment by many of our venal politicians, not just corrupt Demonrats like the Clintons but "free trade" fools among Republicans.

[Prophet in the wilderness]

I don’t see GM being around in 10-15 years.. GM might be bought up buy some foreign company, and open new production plants here in the USA.

[hedgetrimmer]

But that’s what the Heritage foundation, the Rand Corporation etc have wanted all along.

[AmericanVictory]

And not be allowed to sell into the domestic ChiCom market but only export, so that they become captive. And thanks to Bill and Al and GEorge, we have trsshed our patent office and our inventors so that the ChiComs have an open opportunity. Great job, U.S. Government.

[UCFRoadWarrior]

We should be very concerned. Our suicidal trade policies created the Chinese monster. It will do no good to be able to pulverize them militarily if they can do the same to us, which will soon be the case. The enormous trade deficit means that they are also increasingly able to buy up our assets. They’ve already bought favorable treatment by many of our venal politicians, not just corrupt Demonrats like the Clintons but “free trade” fools among Republicans.

---

Great points, all. Our trade policies are stupid....not only they are bad economically, they are bad for national security.

Also, we have spent billions (maybe trillions) of dollars over the years trying to subsidize bad trade deals and the effects of free trade. Of course, the “economic experts” never bring up the non-free market aspect of spending tax dollars on “Free” trade....whether subsidizing multinational companies or bailing out domestic industries

Our trade deficit is like that of the Third World countries....the free traders say “trade deficits arent bad”. If thats the case, then Ethiopia should be an economic superpower

I think in the next decade or two, you will see the end of free trade as we know it. The signs are already there....the refusal of South American countries to join MERCORSUR, and, other nations subsidizing their national industries. The US is spending and free trading itself to Third World status

[1rudeboy]

Ethiopia has a trade surplus. Poof! goes your argument.

[TheThirdRuffian]

They also move there because the US corporate tax rate is a crippling 35% -— 15% in most countries.

I invest off shore for that reason -— and I ain’t a rich man.