New Yorker Hank Paulson, ex Goldman Sacs, and Secretary of the Treasury under Bush, had made over 200 trips to China.
Posted on 07/09/2009 8:53:56 AM PDT by pissant
The number of US companies featured in a emminent business magazine's annual list of the world's top 500 global companies fell to its lowest level ever, Fortune magazine has said, while more Chinese firms appeared than ever before.
Signaling the effects of the devastating financial crisis on the US economy, a non-US firm topped the list for the first time in over a decade, with Anglo-Dutch energy giant Royal Dutch Shell coming in first.
The firm brought in 15 billion dollars (11 billion euros) more in sales than second place oil rival Exxon Mobil of the United States.
China, Asia's ever-soaring powerhouse economy, saw its fortunes rise across the board with a Chinese firm -- oil giant Sinopec -- appearing in the top 10 for the first time, the magazine reported Wednesday.
Sinopec, also known as China Petroleum & Chemical Corp, supplies 80 some percent of China's fuel.
Overall, China had an unprecedented total of 37 companies featured on the list, with nine new entries and the others climbing in the rankings.
(Excerpt) Read more at breitbart.com ...
Business managerial class doing slow motion bust outs, leaving the owners with a ruined business.
No different than the mob, or the Democrats to a city via the workers unions.
That’s what is happening to American, it is being busted out, stripped. On one end GOP/RNC mercantilists, in the middle Financialists, and on the left end the Democrats.
But, you, me, your kids will be presented the bill.
It is when you hand them every manufacturing secret we developed over the last 100 years for the sake of getting “cheap labor”. China had no intention of only being a labor pool. They demanded and received the technology.
China is laughing all the way to the bank because America has no manufacturing base anymore.Ross sure told us what nafta would do but no one listened.
The Chinese give us products.
The democrats give us crap.
In case of GM and Chrysler, the dim bulbs who have never had real jobs (e.g., congresscritters) will give us crappy products.
New Yorker Hank Paulson, ex Goldman Sacs, and Secretary of the Treasury under Bush, had made over 200 trips to China.
China ping
China is the high quality provider of goods and services to Americans. China is the high quality provider of goods and services to Americans.China is the high quality provider of goods and services to Americans.
China is the high quality provider of goods and services to Americans. China is the high quality provider of goods and services to Americans.....
It’s hard to wrap one’s head around the above.
Now that the RNC/GOP/financialists/ have placed their bets in China, you don’t think there is a flys chance in a hurricane the Repub/Democraps that they are not going to make sure this bet doesn’t come out the way they bet, do you? How are they supposed to make the big bucks if they can not manufacture the conditions to insure their profitable future?
“Cheap Labor”
///////////////
Slave labor is worse. Worse still is labor that pays the Chinese Government to work. These new Chinese millionares are being taxed hard to alliviate any World economic road bumps.
Thinks how much revenue the U.S. could generate if they could raise taxes on the rich anytime they wanted....oops they already can ... damn.
Thank you democrats and booma and the other enemies of America including the clintooons
That sums it up.
I wonder if Goldman Sach’s trading platform codes are in the hands of the Chinese as well as Russia and Germany.
Amazing.
Well, I wouldn't say "give" technologies to China. You have to realize, that WTO allows developing countries time to protect their industries so they can mature to a point where they can compete on their own. China has been given much less of that protection than many developing countries. And in some areas, developed countries. Yet, despite that, China manages to move ahead faster than other developing countries and should not be faulted for their hard work.
Not every country can make things happen quickly just because opportunities have been given them. Mexico is part of NAFTA as well as WTO, but their rise has not been as dramatic as China's.
Also, keep in mind, in post WWII Europe (and Japan), they were allowed to protect their industries until it matured as well.
In the big picture, China isn't doing anything unique that Japan, S. Korea, Taiwan, etc. (and even post WWII Europe) hasn't done. The only difference, is that China is doing it on a scale never done before. And for that, they should not be faulted.
One more reason to tell the WTO to take a flying leap to its death.
And yes, we GIVE and have given China its technology, and the technologies we deemed too sensitive, they have stolen.
I don’t blame China for looking out for its “self interest”. I blame China for being a thieving pack of anti-American commmies, and I blame the idiots making US policy for kowtowing to these enemies, enriching them, and giving away large swaths of our industrial base.
The WTO is an organization that was once called GATT, which stands for GENERAL agreement of Trade and Tarriffs. WTO is more than a set of guidelines and rules for all nations who are part to follow in this collective trade relations. It's no magic bullet to wealth. If it were, then all developing countries would develop to the same level.
And yes, we GIVE and have given China its technology, and the technologies we deemed too sensitive, they have stolen.
I suppose the term "give" is relative. If you mean, that the Chinese didn't have to go through the 100 years to develop their own technology, then I would agree. But much of the technology did not come about without cost to the Chinese themselves. They had to labor for it. Sure, it's less time than having to R&D it for generations, but it was through business deals where they had to labor arduously for it. As far as stolen, I dunno.....how far did Russia get during the cold war? Didn't they steal technology? It's intellegence gathering operation was more pronounced than China's is today. Yet, I don't see Russian technology spilling into the market place.
I don’t blame China for looking out for its “self interest”. I blame China for being a thieving pack of anti-American commmies, and I blame the idiots making US policy for kowtowing to these enemies, enriching them, and giving away large swaths of our industrial base.
Well, China appears rather free market to me. In fact, that's why China's economy continues to grow. Sure, the government has a hand in steering things around, adding money where it needs to and protecting where it needs to. But by and large, there is alot of autonomy in Chinese industries. And overtime, China's state owned industries will be slowly sold on the open market. Bit by bit so as to maximize both government effectiveness and industry effectiveness.
As far as anti-American feelings, I think you'll find more anti-American feelings in many other parts of the world than in China. I would venture to say, even in some parts of Europe. And there's anti-Chinese feelings in the US, though it just isn't as vocal (it maybe brewing underneath).
WTO is NO more than a set of guidelines and rules for all nations who are part of to follow in this collective trade relations.
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