China: The New Superpower?

[BigDaddyWatch]

China is not a superpower, it has many economic, social and environmental issue's to deal with.

 

[Abingdonboy]

The term "Superpower" is outdated and irrelevant in the 21st century IMHO



China is a regional power for sure and is increasingly becoming a global power.

 

[BigDaddyWatch]

US is not losing anything. And India has to get there first.

faithfulguy my friend and my brother, the US is not losing anything ? Everything is slipping out of her hands right now. How long do you think America can keep going like this ? Today there is a financial, economic and now a political crisis in America. Rather its the debt that's rising uncontrolled or the political impasse that has paralyzed policy making or the banks and the financial institutions that the American government has bailed out that remains insolvent. America is in the dark of the night and is heading for a steep cliff.

 

[gambit]

faithfulguy my friend and my brother, the US is not losing anything ? Everything is slipping out of her hands right now. How long do you think America can keep going like this ? Today there is a financial, economic and now a political crisis in America. Rather its the debt that's rising uncontrolled or the political impasse that has paralyzed policy making or the banks and the financial institutions that the American government has bailed out that remains insolvent. America is in the dark of the night and is heading for a steep cliff.

We were supposed to 'collapse' back in Jun 2010. How long are you fools going to drag out our 'collapse'?

 

[BigDaddyWatch]

We were supposed to 'collapse' back in Jun 2010. How long are you fools going to drag out our 'collapse'?

I never said that i wasn't even a member back then. Just proof me wrong point by point.

 

[Audio]

Rather its the debt that's rising uncontrolled or the political impasse that has paralyzed policy making or the banks and the financial institutions that the American government has bailed out that remains insolvent.

"Our fiscal expenditure is growing very quickly while I estimate fiscal revenue will only post single-digit growth rates in future ... we are facing substantive domestic pressures."

Different Chinese agencies have published varying figures for the level of outstanding local government debt. The state auditor was quoted by media as saying total debt rose to around 15-18 trillion yuan ($2.42-$2.9 trillion) in March this year.

Europe may not solve debt woes in 10 years: China Finance Minister | Reuters

For your courtesy, so you dont live in an illusion that debt is something alien to China.

See, your new finance minister is a master bot, he blames increasing deficit and rising debt on Europe. Deflection ftw.

said Beijing's increased spending to offset weak demand abroad was widening the fiscal deficit.

This is akin to a bailout, except in another form. Subsidizing cheap loans instead of outright giving money. And best of it all, it goes in the deficit.
Please.

 

[gambit]

I never said that i wasn't even a member back then. Just proof me wrong point by point.

What is there to prove you wrong? All economies have up/down cycles. All countries have debts at any time in their histories. The only thing that seems to be consistent is how often people like you are wrong about when the US is supposed to 'collapse'.

 

[faithfulguy]

faithfulguy my friend and my brother, the US is not losing anything ? Everything is slipping out of her hands right now. How long do you think America can keep going like this ? Today there is a financial, economic and now a political crisis in America. Rather its the debt that's rising uncontrolled or the political impasse that has paralyzed policy making or the banks and the financial institutions that the American government has bailed out that remains insolvent. America is in the dark of the night and is heading for a steep cliff.

America cannot go on like this forever. But to say that the US economy is heading for a steep cliff is not correct. US economy had already fallen down the steep cliff. But US, being equivalent of superman because of the position of the US dollar, landed softly down the cliff.

As long as the US dollar is trusted as the medium of the international trade, America will do just fine.

 

[BigDaddyWatch]

What is there to prove you wrong? All economies have up/down cycles. All countries have debts at any time in their histories. The only thing that seems to be consistent is how often people like you are wrong about when the US is supposed to 'collapse'.

But America is already collapsing, 18 million people have gone on food stamps over the past 4 years, that's on average more than 86000 a week. The infrastructure is becoming ever more dilapidated as there are no funds for expansion or repair. Households have massive amount of personal debts. The U6 unemployment rate is more than 10% for 5 years straight. college graduates can't find jobs and with massive amount of debts on their backs. But the "Lehman moment" that you're talking about is still some time off that's true. However in the mean time the country is withering away slowly.

 

[faithfulguy]

But America is already collapsing, 18 million people have gone on food stamps over the past 4 years, that's on average more than 86000 a week. The infrastructure is becoming ever more dilapidated as there are no funds for expansion or repair. Households have massive amount of personal debts. The U6 unemployment rate is more than 10% for 5 years straight. college graduates can't find jobs and with massive amount of debts on their backs. But the "Lehman moment" that you're talking about is still some time off that's true. However in the mean time the country is withering away slowly.

If US survived the great depression, the current situation would be a stroll in the park.

 

[Agnostic_Indian]

China is almost a superpower

 

[faithfulguy]

China is almost a superpower

China is far off from being a superpower. Most important of all, it has no desire as its mostly inward looking, as compare to Soviet Union and the US.

 

[BigDaddyWatch]

Europe may not solve debt woes in 10 years: China Finance Minister | Reuters

For your courtesy, so you dont live in an illusion that debt is something alien to China.

See, your new finance minister is a master bot, he blames increasing deficit and rising debt on Europe. Deflection ftw.



This is akin to a bailout, except in another form. Subsidizing cheap loans instead of outright giving money. And best of it all, it goes in the deficit.
Please.

China's money has mainly gone into the infrastructure it means that the money has been invested. Now some of the project will make money immediately, others will become profitable in the future and others will just simply never turn a profit at all. The last ones are a serious problem. Just how big the problem for China will be is still to early to say. But i do expect that for China there will be trouble from this in the future.

As for the Americans the problem there is that all the money that has been borrowed has gone in to consumption, welfare and bailing out failed enterprises at home and military expansion and agression abroad meaning that the money will never ever give a return no matter how long it takes. And the debts of the Americans are much larger then that of China's. I' mean 2,9 trillion dollars that's like 35% of GDP.

So China has invested 35% of GDP while America has spend more than 100% of GDP. China will make a partial loss on its investments while America will loose everything its has spend.

 

[gambit]

But America is already collapsing, 18 million people have gone on food stamps over the past 4 years, that's on average more than 86000 a week. The infrastructure is becoming ever more dilapidated as there are no funds for expansion or repair. Households have massive amount of personal debts. The U6 unemployment rate is more than 10% for 5 years straight. college graduates can't find jobs and with massive amount of debts on their backs. But the "Lehman moment" that you're talking about is still some time off that's true. However in the mean time the country is withering away slowly.

Your China is probably in worse shape. You have a demographic bomb in terms of gender imbalance and an aging population. You have a real estate problem that is at least on a par with ours if not worse. China have 1/4th the arable land compare to the US. Half of your population is still in poverty. Do I need to continue?

 

[shuttler]

Your China is probably in worse shape. You have a demographic bomb in terms of gender imbalance and an aging population. You have a real estate problem that is at least on a par with ours if not worse. China have 1/4th the arable land compare to the US. Half of your population is still in poverty. Do I need to continue?

Yeah go on repeating the multiple failures of Gordon Chang!
We have our problems. But we are in better shapes than most countries, namely india, vietnam, usa, PIIGS, japan!