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Originally Posted by mrskin
Evidence once again of the dumbness of the average lefty....
Anyone who has studied economics can work out that China cannot sustain current growth into the extended future.
China's current GDP growth is merely an effect of China opening up some of its trade and modernising parts of its work force.
Population alone does not equate to power or development potential. 1 worker with 1 machine or 1 computer is 10 times more effective than 10 workers without any machines. The technological infrustructure and capability of America would take decades to develop in China.
In 20 years time or so oil will be more scarce than it is now, yet America will still have trillions of barrels in its reserve stockpiles. China will not.
I could go on and on but frankly im not getting paid to teach. Socialism does not work and it not only makes the rich poorer but it makes the poor poorer aswell.
And for all you tools out there that think that the democrats are responsible for the surpluses america received in the clinton era - go and study economics.
It was reagans tax cut implementations and economic policies that led to the economic growth during the clinton era, it takes years for economic benefits to sink in not months.
The current economic climate is as a result of clinton's poor economic management and his failure to properly track down terrorists and in particular bin laden.
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1. Do you seriously think China can't stockpile oil, or pay the price of inflated energy costs. They're the ones with the trillions of USD, and no trade deficit. Btw USA has less than one billion barrels of oil in it's Strategic Petroleum Reserve (not trillions)
2. The US is more socialist than China. Medicare, companies with huge pension costs, massive farm subsidies. Just look at the US budget versus Chinese budget.
3. Republicans have spent like fuckwits for the first 6 years of Bush, Clinton had surpluses sure there was a Republican congress, but he didn't veto the deals he signed them. So meh.
4. Smart opening, and modernising of an economy can lead to productivity gains over a very long time. How do you think all economies grow. Why would China suddenly hit a ceiling you give no reason for that.
5. You're right 1 worker in 1 country versus another are not the same. It depends on productivity. Productivity gains in China are massive, and gaining very quickly. China is no longer the place where just cheap plastic toys are manufacture. Most computer hardware comes out of China, and increasingly the designs also.