I’m no economist, so I really don’t understand how this is anything but inevitable. If China has over four times as many people as the U.S. and they trend toward a kind of capitalism, wouldn’t it be expected that their GDP would surpass ours at some time?
Obviously with the US trending away from capitalism, we are expediting the day that their GDP overtakes ours, but it would still seem inevitable.
It goes beyond that, really. China is basically a slave colony we'd never be able to have under U.S. law. Better yet -- they're a slave colony that buys our debt!
might be true.
But then, it will be like old days...pencils with broken leads and more crap products.
No, and I’ll tell you why.
China’s already seeing their workforce shrink. This is the best it’s going to get for them. See Japan for China over the next 10 years.
China is doomed. Last year China spent more on “interntal security” than regular defense. When the peasants and poor workers/unemployed have nothing to lose, they will overthrow their evil thug/commie overlords. Their economy is hollow and collapsing now.
Thousands riot in south China over land grab -report
http://in.reuters.com/article/2011/09/23/idINIndia-59501220110923
Sep 23, 2011
Thousands of people have attacked government buildings in southern China in protest at land sales, a newspaper reported on Friday, the latest outbreak of trouble in the economic powerhouse of Guangdong.
Land Dispute Stirs Riots in Southern China
http://www.nytimes.com/2011/09/24/world/asia/land-dispute-stirs-riots-in-southern-china.html
ANDREW JACOBS September 23, 2011
Rioters in southern Guangdong Province have besieged government buildings, attacked police officers and overturned SWAT team vehicles during protests this week against the seizure of farmland, said officials in Shanwei, a city not far from Hong Kong that skirts the South China Sea.
According to the Web site of the Shanwei municipal government, hundreds of people on Wednesday blocked an important highway while others mobbed the local headquarters of the Communist Party and a police station in the city of Lufeng, injuring a dozen officers. Some witnesses, posting anonymous accounts online, put the number of rioters at more than a thousand.
News of the demonstrations as well as photos and video were quickly deleted by censors although a few images persisted on Friday morning. One showed demonstrators carrying a banner that read “Give back my ancestors’ farmland.” A video shot on cell phone lingered on overturned police vehicles, including one marred with graffiti that read “Running Dogs,” a revolutionary-era insult once directed at perceived enemies of the people.
http://in.reuters.com/article/2011/09/23/idINIndia-59501220110923
James Pomfret Sep 23, 2011
Between 1993 and 2006, the number of recorded “mass incidents” like riots and protests grew from 8,708 to about 90,000, Zhou wrote in the magazine’s September edition. From 2007 to 2009, the number of incidents was consistently above 90,000, he added.
“By and large, the authorities have failed to prevent ... incidents of social unrest from multiplying,” said Nicholas Bequelin, a senior researcher in the Asia division of Human Rights Watch. “The root cause in the countryside is land grabs.”
Signs of China slowdown add to dim global outlook
http://www.forbes.com/feeds/ap/2011/09/23/general-world-economy_8696809.html
ELAINE KURTENBACH 09.23.11
Signs that the powerhouse Chinese economy is slowing have spooked global markets and sharpened fears that the world economy will not escape another recession, so much so that a small, preliminary survey of Chinese manufacturers contributed to a global stock market plunge this week.