Quote:
Originally Posted by Webby
Stick to the point Sticky - you raised the subject of "thriving economies" and you got an answer.
Did you not know both China and India have real thriving economies which are expanding faster than all other western countries???
Has China been borrowing funds of around $12billion daily from other nations to sustain themselves? Does China have a weak currency value? Does the manufacturing sector in China only match only 10% of their total economic activity?? Does China manage to have consistant trade deficits for 39 years?
What part is it that you do not comprehend??? *lol*
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But China and India are coming from virtually nothing. To say they are growing at a more rapid pace isn't a telling sign of anything. There are probably tons of small countries that are developing faster. We still have 6 times the GDP of China and nearly 20 times the GDP of India.
People in both countries work for pennies a day (literally), and there is no way you could say that anyone in those countries would prefer their economy to ours.
As far as our deficit, we've had one for decades and people have been claiming doom and gloom as well. While it does have negative effects, it is also correctable by responsible spending and higher taxes. It's also odd how you leave out Japan who has a similar budget deficit percent. China and most European countries work at a deficit as well. Why are you only singling out the US?
And for all these thriving economies, you do realize that they rely heavily on the US? Where do many of your jobs in India come from? Who buys most of the products made in China? If the US economy tumbles, those countries tumble just as hard.