A new economic order will be led by two rivals (China and India). The old economic order (led by the USA) will be gone soon.
The GFC was deliberately engineered to pave the way for the collapse of the greenback and empowerment of the euro.
Posted on 10/04/2009 12:47:54 AM PDT by myknowledge
• China and India set to become established global powers • Euro and renminbi tipped to join dollar as reserve currencies • Other developing economies predicted to flourish in recovery
The wrenching financial crisis of the past two years will provide the catalyst for a profound change in the global economy – which, according to the man running the World Bank, will see China and India become established centres of power, the dollar eclipsed as the sole reserve currency, and Latin America, south-east Asia and Africa emerge as new sources of growth.
But as he surveys the wreckage caused by what the bank and its sister organisation, the International Monetary Fund, agree is the most severe crisis since the devastation caused by the second world war, Robert Zoellick is surprisingly upbeat about the future.
Asked by the Observer how he envisages the global economy in 20 years' time, Zoellick says: "There will certainly be a larger role for the emerging powers, there will be multipolar sources of growth, there will be more south-south trade between developing countries.
"The crisis gives us the opportunity to hasten this process. If we are concerned about the past reliance for growth on the US consumer, we have to make sure consumers in developing countries have enough finance to buy."
(Excerpt) Read more at guardian.co.uk ...
A new economic order will be led by two rivals (China and India). The old economic order (led by the USA) will be gone soon.
The GFC was deliberately engineered to pave the way for the collapse of the greenback and empowerment of the euro.
They are going to lend the money we gave to the fund and could not afford to third would countries in the form of loans so they can buy China's crappy stuff and get themselves shackled to credit bubble hell. It's a merry-go-round and somebody is not having much fun.
Who is not having much fun?
It's so powerful it doesn't float on the wolrd market. It is so worthless it needs $2 trillion of hard currency in the bank (mostly in the form of foreign bonds and a little gold) to back up the entire Communist Chinese economy.
yitbos
It's getting late and my sarcasm stinks. The entire point of the monetary fund is to set up a wealth distribution center but every Country will need to be brought to it's knees before the "bank" can swoop in and "fix" things for the needy. They will be working in concert with leftist world "regulators" of course.
Where have we seen that played out before?
I don’t know...where have we seen that played out before?
Lose the sarcasm, and tell us what you think.
BTW. I’m not challenging you..I would love to know what you think.
which falls into line with the October 25th date of financial collapse that is being bandied about. Currency, commodity and digital trading is said to be locked up and some may never resume. Banks are said to close world wide, starting first here in the US. Look for members of the Obama administration in early November to travel the world with hat in hand looking for handouts to keep the whole thing going... But ultimately is will spell the death of the dollar.
Wake me up when China and India have a vast Interstate highway system inter-connecting all points. Until that time they’re still 3rd world.
Great choice, America. /s
“Wake me up when China and India have a vast Interstate highway system inter-connecting all points. Until that time they’re still 3rd world.”
Good morning...
From Wikipedia:
Originally, China had been carrying out an ambitious plan to build up a 35,000 kilometer national trunk highway system before 2020. The main objective of the NTHS was to construct 12 high standard trunk roads: five longitudinal roads and seven latitudinal roads. 70% of the trunk roads are expressways. This project has been completed by the end of 2007, 13 years ahead of the original plan. [5] By the end of 2007, there were already 3.57 million km of highways, which includes 53,600 km (33,310 miles) of expressways. [5]
On January 13, 2005, it was announced by Zhang Chunxian, minister of communications, that China will build a network of 85,000 km expressways over the next three decades, connecting all provincial capitals and cities with a population of over 200,000. Of this total length, 68,000 km are trunk roads and 17,000 km are 5 regional ring roads. There are also 2 parallel routes and more than 30 connecting links. 32,000 km of expressway are to be built in central and western regions.
This is part of the reason that China is now producing and using something like one third of the world’s steel and concrete.
At some point Americans will wake up and realize that these guys mean business. That had a news story about locals blocking a highway a few months ago, complaining about something. I didn’t care about their cause, but the highway looked incredible...and it was truly just a random location.
Americans still don’t really know 0bama has ushered this in nor will they until the market crashes soon and all of the pictures of his anniversary date night and oprah’s fat butt are released.
For all those who thought India was our ally.
They are ChiComs in drag.
Open borders
Outsourcing American wealth by de-industrializing the U.S. economy
Erosion of the American standard of living through compensation decline commensurate to the rest of the 3rd world.
Devaluation of the dollar through years of federal financial mismanagement.
Allowing a private banking cartel (federal reserve) dictate in secret our monetary policy.
Unfair / lopsided trade negotiations. Nafta, Gatt, Cafta.
Shall I go on.
Whether we get there rapidly or on a slower pace, socialism appears to be the target of the liberal left as well as the global elite.
Kill American sovereignty, the U.S. economy and dollar...usher in a new world currency and global governance.
Sounds like a book I've read.
The Holy Bible.
Thank you.
Well said, nice synopsis.
I'm just taken back by the overwhelming support of the two party system in this country.
If somethings not working....try something that might.
Think outta the box.
What I fear most is that folks will continue to buy in to these professional politicians (oligarchs).
The democrat party has been high-jacked by the socialist, the republican party has been taken by the globalist elite.
These two systems are NOT diametrically opposed as one might superficially perceive.
If one looks deeper, the news behind the news, you will see the true democrats and true republicans of twenty years ago, the real American statesmen, battling to recapture their parties from foreign and domestic lobbyist with power and money underpinnings.
Ok, anyone gotta cigarette? ;)
And Satan laughs......
There is no advantage to China undercutting us either politically or commercially until they are a self-sustaining economy, i.e., an economy where the Chinese buy all the useless plastic objects they produce.
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