Pam Woodall: "China to be biggest economy in the world in 25-30 years"

[pimplink]

http://economist.com/displaystory.cfm?story_id=3241859

[David!]

Actually I would say in 10 to 15 years

[KRL]

Ahhh, maybe so, but don't forget who their biggest customer is.

[angelsofporn]

That combined with an open policy of world domination. No doubt they will wipe us out first.

[angelsofporn]

Originally posted by KRL
Ahhh, maybe so, but don't forget who their biggest customer is.

Everything i my house is made in china...Take a look at labels on the things you buy now. 90% of everything is made there.

[polish_aristocrat]

You are 1 day too late with your topic, pimplink.

http://www.gofuckyourself.com/showth...adid=365286&s=

[pimplink]

Originally posted by polish_aristocrat
You are 1 day too late with your topic, pimplink.

http://www.gofuckyourself.com/showth...adid=365286&s=

I wanted to post in that thread but couldn't find it back

[CamChicks]

Economists everywhere have been in agreement on this for years. No amount of denial or bravado from uninformed americans will change the data. We will have to adjust. The hardest part for many to acknowledge is that outsourcing all our technology and manufacturing (for higher short-term company profits) is ultimately what has caused us to be unseated from our #1 position in the world.

[Wiggles]

Japan is pretty close second in my opinion for future.

[Basic_man]

That's nice! No more ameican morons like Bush who think the world is at him feet !

[pimplink]

Originally posted by Basic_man
That's nice! No more ameican morons like Bush who think the world is at him feet !

your engrish is 20%

[Lykos]

And i am preety sure they will be..there is just too many of them...

[Goatse]

Originally posted by Wiggles
Japan is pretty close second in my opinion for future.

Per capita, yes. Unfortunately for them, their population is too small and they lack the necessary natural resources to compete with China, the US and Russia when it comes to absolute numbers (i.e. GDP).

[$5 submissions]

It's believable. Specially given the size of their market and increasing spending power.

Internally in China, the place to MAKE money is in the west. The Eastern seaboard is built up already. Still lot of money to be made in the West.

[Fake Nick]

the USA is in debt with China , if it wasn't for those dictators lending the USA money the USA was now bankrupt

[reynold]

that would be great! China as most populoust country need to be come a tiger in economy to help their growing people.

[VeriSexy]

Originally posted by Fake Nick
the USA is in debt with China , if it wasn't for those dictators lending the USA money the USA was now bankrupt

http://www.atimes.com/atimes/Global...y/FA23Dj01.html

"China recycles trade surplus into US Treasury bonds
American companies may have forgotten what Henry Ford propounded when he first built his Model T: If you do not pay high enough wages to your workers, they can't afford to buy your product. One simple basis for that Bush boom is that China is recycling its US$100 billion-plus trade surplus with the US back into dollars, and especially into US Treasury bonds. Almost half of the US Treasury bonds are now owned in Asia. So China is financing Bush's bold economic experiment: running two or more wars simultaneously with a huge budget and trade deficit, and equally huge tax handouts for the richest Americans.

One has to question the long-term economic rationale for China of putting its long-term assets into very low-interest bonds in a currency that has already dropped recently by a third - and is going to drop even more. It certainly makes strategic sense: if push came to shove over, for example, the Taiwan Strait, all Beijing has to do is to mention the possibility of a sell order going down the wires. It would devastate the US economy more than any nuclear strike the Chinese could manage at the moment. "

China Issues US$78 BLN Of Treasury Bonds In 2003
http://au.news.yahoo.com/040130/3/nibj.html

CHINA TO ISSUE EQUIVALENT OF US$4.6 BLN IN T-BONDS
http://news.tradingcharts.com/futures/5/8/54028985.html

CHINA'S CENTRAL BANK QUICKENS MONEY WITHDRAWAL
http://news.tradingcharts.com/futures/9/5/54130559.html

China float might hit US Treasuries-PIMCO's Keller
http://www.forbes.com/markets/bonds...rtr1004460.html

China is an important buyer of U.S. Treasury securities, holding $119.4 billion of them at the end of April, U.S. Treasury Department figures show.


China's New 'Self-Defense' Tool: U.S. Bonds
http://www.iht.com/IHT/PS/98/ps040398a.html

http://www.oneworld.net/article/view/73234/1/
China is also using its large foreign currency reserves--a total of $356 billion--to buy more U.S. treasury bonds, which provide U.S. investors with capital for re-investment

http://wwwc.house.gov/International...08/bian2021.htm
The People?s Republic of China presently receives approximately $4 billion each year from American taxpayers in the form of interest income on U.S. Treasury bonds held by the Chinese government. The PRC also enjoys a $100 billion annual trade surplus with the United States, giving them an estimated $400 billion current account. Yet the government of China continues its discriminatory evasion of payment to American bondholders. It is the position of the Chinese government that China should not have to honor their nation?s full faith and credit sovereign obligations if they choose not to. Such an insular worldview, flaunting the flagrant disregard of established principles of international trade and commerce, will not serve the interests of the PRC in the community of nations and is inconsistent with the status of the PRC as a most favored trading partner and member of the World Trade Organization. Such a posture can only act to harm the long term interests of both the United States and China.

The Economy:US to buy back national debt
http://news.bbc.co.uk/1/hi/business...nomy/411973.stm

It now says it will begin repurchasing Treasury bonds before they fall due, as early as next February, cutting back on the $3.6 trillion (£2.4 trillion) it owes to the public.

US Dollar Implosion - Part II
http://www.gold-eagle.com/editorial...ield120503.html

Asians Aren't Dumping U.S. Treasuries -- Yet
http://quote.bloomberg.com/apps/new...id=aCvJZvr6BM4I

China also has emerged a key U.S. Treasury holder. Maintaining its 8.3 peg to the U.S. dollar means buying lots of dollar assets. Politicians and manufacturers who complain that Beijing manipulates its currency to gain an unfair advantage fail to appreciate its role in holding down U.S. borrowing costs.

China Now Second In Oil Consumption
China's fast-growing economy has overtaken Japan to become the world's second largest consumer of crude oil after the US
http://www.ruggedelegantliving.com/change/a/002062.html

China has total of 270 million cellular users as of the end of 2003 and around 60 million new users were added in the same year. See:
http://www1.chinadaily.com.cn/en/do...tent_259693.htm (the news in 08/2003)

Broadband users in China:17.4 million. see: http://www.infoworld.com/article/04...ecommunications

China produced around 225 million tons of iron and steel and imported other 35 million tons in 2003 for the construction.
See: http://www.worldsteel.org/media/wsif/wsif2003.pdf

55% of the world cement (Another infrastructure construction index) was used in China. See http://www.economist.com/displaysto...tory_id=2446908

More that 13 million of PCs were sold in China in 2003. See http://biz.yahoo.com/rc/040212/tech_china_pcs_1.html

International trade in 2003
China topped 840B$ (import < export) in 2003. See: http://www1.chinadaily.com.cn/en/do...tent_294145.htm

Mcdonads?s Business in China:
http://breaking.tcm.ie/2004/02/26/story135939.html

China has more than 400B$ reserve. See: http://www.china.org.cn/e-company/0.../page031222.htm
China has 160B$ external debt. Reserve >> debt

Here's world military spending

http://www.cdi.org/budget/2004/worl...ry-spending.cfm

China is also pushing Europe to lift the Arms embargo so they can buy more high tech weapons and tech transfers. Imagine what will happen if they got a copy of the Euro Fighter and started mass producing.
http://www.contumacy.org/bbs/index....ames;read=26893
http://www.euobserver.com/index.pht...3&aid=14196

They also got their first batch of SU30MKK from Russia.
http://www.kanwa.com/edaily.htm

China more than doubling budgeted military spending this year
http://www.spacewar.com/2004/040423060406.hm15bwqn.html
China's official defense budget in 2004 is more than 25 billion dollars.

But when off-budget funding for foreign weapons system imports is included, total defense-related expenditures this year should soar to between 50 and 70 billion dollars, said Richard Lawless, the deputy undersecretary of defence.

[theFeTiShLaDy]

no doubt at all! if you observe it's improved alot for the past 10 years.

[Project-Shadow]

Nice one Veri, very informative.. 'ha ha'

[FlyingIguana]

Originally posted by CamChicks
Economists everywhere have been in agreement on this for years. No amount of denial or bravado from uninformed americans will change the data. We will have to adjust. The hardest part for many to acknowledge is that outsourcing all our technology and manufacturing (for higher short-term company profits) is ultimately what has caused us to be unseated from our #1 position in the world.

no, the reason is americans aren't investing to better themselves and allowing the rest of the world to catch up.

[dready]

Great thead! Very informative. Also don't forget that with China being the #2 importer of oil, they require the US Dollar reserves to pay for it.

[VeriSexy]

Originally posted by dready
Great thead! Very informative. Also don't forget that with China being the #2 importer of oil, they require the US Dollar reserves to pay for it.

China Now Second In Oil Consumption
China's fast-growing economy has overtaken Japan to become the world's second largest consumer of crude oil after the US
http://www.ruggedelegantliving.com/change/a/002062.html

Prices won't be coming down anytime soon.........

[Rich]

Originally posted by pimplink
your engrish is 20%

He's an outsourced poster.

[BRISK]

$$$$

[Rich]

Originally posted by VeriSexy

The Economy:US to buy back national debt
http://news.bbc.co.uk/1/hi/business...nomy/411973.stm

Great post.

Could you try that link again? The board cut it off.

[Rich]

"Anyone who believes exponential growth can go on forever in a finite would, is either a madman or an economist."
-Kenneth Boulding

[VeriSexy]

Originally posted by Rich
Great post.

Could you try that link again? The board cut it off.

http://news.bbc.co.uk/1/hi/business/...omy/411973.stm

This should be more helpful, that was in 1999

http://www.brillig.com/debt_clock/

[Rich]

Also keep in mind if the Chinese start consuming like Americans, it will take the resources of something like 4 earths to support it.

[Rich]

Originally posted by VeriSexy
http://news.bbc.co.uk/1/hi/business/...omy/411973.stm

thanks

The Republicans are proposing a $792bn tax cut, while President Clinton and the Democrats want to add funds to the social security retirement programme and Medicare, which provides health care for older people.

But in a change of tack last month, the Clinton administration indicated that it was also prepared to consider using some of the surplus to reduce the overall government debt.

Such a course of action has long been advocated by Alan Greenspan, the influential chairman of the US central bank, the Federal Reserve.

He argues that reducing government debt should take priority over tax cuts, as the move will free funds for private investment and lower government spending.

Is it too late for a recount?

[VeriSexy]

Originally posted by Rich
thanks



Is it too late for a recount?

Clinton Announces Record Payment on National Debt

http://www.cnn.com/2000/ALLPOLITICS/.../clinton.debt/

You should look here, very good timeline

http://www.brillig.com/debt_clock/

[BRISK]

Originally posted by VeriSexy
http://www.brillig.com/debt_clock/

The National Debt has continued to increase an average of
$1.71 billion per day since September 30, 2003!

[Theo]

possible faster, but there are many unpredictable factors. Economies go up and down and I can't recall any economy in the last century doing great for such large period of time.

[teomaxxx]

Originally posted by Rich
Also keep in mind if the Chinese start consuming like Americans, it will take the resources of something like 4 earths to support it.

probably time to buy for chinese people another 4x 4 car.