[Ciexyz]

I wouldn't be surprised. Esp. since our business people can't seem to send them enuf money in investments.

[SamAdams76]

I believe that China will eventually reject socialism outright and become a capitalist entity (the process is already much further along then many think). Once that happens, look out. The current ruling generation over there represents the last gasp of Communism. The 1989 uprising in Tianemen Square might have been squelched but it continues to take root and bubble under the surface. Once the younger generations begin assuming power, everything will change. For the better, I hope.

But let's not write off the USA either. I predict that we will integrate Canada and Mexico into the USA over the next 100 years (through peaceful means too complicated to explain here) and the United States of America will eventually envelope the entire continents of North and South America.

[Red Jones]

think of japan times 10.

[unclesam1]

Does anybody think this could actually happen? That would be very bad.

[tcostell]

It only takes one word to debunk this whole idea. It's the thing that the US has over every country on the planet including China...

innovation.

No one invents, like Americans, and that will keep us in the lead for as far into the future as any of us care to look.

[DoctorMichael]

'China to Replace US as the Engine for World Economy'....................through use of slave labor.

Free Market Economies only work when the people are free.

[staytrue]

many European and American people know little about the situation in China, they should come more often to see for themselves.

I know almost nothing about china. There is no substitute for first hand knowledge. Anyone out there have first hand knowledge ? All I know is that it is a large and populous country and makes a lot of consumer items for walmart. It has a military that is meager compared to the US.

[Pylot]

This is wishful thinking and total nonsense.

The model for productivity is a free society.

China will never have a free society.

To think that China will drop communism and majically embrace capitalism is not just a wishful thought, it is an uninformed thought.

China is provincially ruled by a three way coalition make up of the Military, Government and Gangs.

If I remember correctly they have a standing army of way over 100 Million men.

[ReveBM]

I have a big problem with China, but it's different from most of the posters here. I would like to focus on a very specific problem: If China is going to replace America as the global engine of growth, it should therefore become a great place for stock investment, alongside great american companies like GE and Microsoft (over the next 30 years that is).

However, this appears not to be the case. I often glance at Chinese stocks, mostly the 30 or so that are traded in the US. A good example is Jinpan International (JST) which makes power transformers and distributors for electical grids in China. I was looking at this earlier in the year when it appeared to be cheap on conventional stock measures (price-to-earnings, etc.). I appears on the face of it to be a no-brainer in terms of potential because China is expected to have a huge demand for power over our lifetimes. However, I was having a difficult time coming up with solid information about this company either from its website or from financials (this is not solely a language problem because I do speak and read some Chinese). Something didn't smell right. Then this past August came the following announcement:

=====================================================

Jinpan International Limited (AMEX Ticker Symbol 'JST') Announces Resignation of Chief Financial Officer

Updated: Friday, August 16, 2002 10:25 AM ET

HAINAN, China, Aug. 16 /PRNewswire-FirstCall/ -- Jinpan International Limited (Amex: JST, news), a British Virgin Islands corporation listed on the American Stock Exchange (the "Company") announced that on August 15, 2002, Grace Zhu resigned as CFO of the Company.

Jinpan International Limited wishes Ms. Zhu all the success for the future.

======================================================

This announcements sets off giant alarm bells ringing in my head. No detail of what has been going on with the company's finances, and no press releases since August.

It's the corruption, stupid!

An analogy I would like to give for China today is fin-de-siecle France in the late 18th Century. A basically rich country heading towards revolutionary turmoil. I know that China is a "been there, done that" country in terms of revolutions, but the corruption even by the government's own admissions there is a gigantic problem.

No matter whether China *in aggregate* becomes powerful economcally (in terms of semiconductors made or steel tons shipped) the surplus of its economy is going to be entirely siphoned off by a parasitic class of communists and criminals (actually one in the same).

Until their regulatory/governmental system is completely revamped I believe that

1) Most stock investors there will have their money stolen from them over time

2) Most foreign direct investors there will have their trade secrets pilfered

Yes, some American companies are making good margins out of China through the global trade system (Wal-Mart, which books the difference from cheap Chinese labor, etc.), but their investments there could come back to haunt them in the long run.

Fasten your seatbelts!

[IronJack]

'China to Replace US as the Engine for World Economy'

Uh huh. And Japan will be the next dominant world power. And Germany will eventually rule the European Union. And global warming will flood our coastlines in the next hundred years. And the Sox will win the pennant ...

Rumours of our demise are greatly exaggerated.

[lafayette76]

China's main role in the world today is to undermine western industrial nations. "Free trade" is being used by Communist business people in the west to destroy the patriotic middle classes and national sovereignties of America, Europe, and Japan.

China's "economic miracle" is nothing more than the same "miracle" produced by Hitler's concentration camps. Twenty million prisoners in labor camps makes for a very low cost work force. The image of China's economy for me is what I saw inside a low-cost compact refrigerator imported from China - on the metal parts of the cooling coil was dried blood from the injured hands of an apparently desparate factory worker.

[TaRaRaBoomDeAyGoreLostToday!]

Yep...been happening. The rollback everyday low prices at Wal-Mart show us how they own us as we were sold out thanks to Clinton and the leftist liberal mind-set.

[<1/1,000,000th%]

Dr. Richter indicated that China is expected to become a new "engine" for world economic development within five years because it is one of the few bright points of the world economy.

HAHAHAHHA!!

Has the ChiCom economy caught up with California yet?

[RJL]

Then, who, after all, can replace the United States? Only China! China's economic situation is very good, not only its domestic situation is favorable, but also more and more overseas investments are turned to China which is hopefully to take the place of the United States in five years to become the main motive force for global economic growth.

It only makes sense then that the new UN building should be in China, not in the US!

[DAnconia55]

Probably true.

Wouldn't be if we unchained capitalism.

But neither the GOP or the Demons are interested.

[maui_hawaii]

You will always be able to find people who define 'economic engine' and 'economic growth' in their own ways. This is foolish to even think of this person as being serious.

[TaRaRaBoomDeAyGoreLostToday!]

bumped and bookmarked

[TaRaRaBoomDeAyGoreLostToday!]

BumPing

[INSENSITIVE GUY]

Who's to blame for this?They could'nt have done it without our stupid help.AMERICA,QUIT FEEDING YOUR ENEMIES!

[TheEngineer]

'China to Replace US as the Engine for World Economy'

Ha! It's about time somebody did. I'm getting tired of all these 60-hour work weeks. I think a little role-reversal would be in order... They can take over my computer programming work, and I'll get a job making rubber dogsh*t. ;-)