This is how China's economy has surpassed much of the world's.  I have heard bits and pieces; although, I really didn't think they were this strong at this point in time.  Imagine the leverage they will have in 20 years.

http://www.zerohedge.com/news/2014-10-09/not-just-largest-economy-%E2%80%93-h...

#1 When you add up all imports and exports, China now accounts for more total global trade than the United States does.

#2 There is now more total corporate debt in China than there is in the United States.

#3 During 2013, we sold about 121 billion dollars worth of stuff to the Chinese, but they sold about 440 billion dollars worth of stuff to us.  That was the largest trade deficit that one nation has had with another nation in the history of the world.

#4 China is now the leading manufacturer of goods in the entire world.

#5 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Today, China’s high-tech exports are more than twice the size of U.S. high-tech exports.

#6 The United States had been the leading consumer of energy in the world for about 100 years, but during the summer of 2010 China took over the number one spot.

#7 China now has the largest new car market in the entire world.

#8 China has more foreign currency reserves than anyone else on the planet.

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

#11 15 years ago, China was 14th in the world in published scientific research articles.  But now, China is expected to pass the United States and become number one very shortly.

#12 China is also expected to soon become the global leader in patent filings.

#13 China awards more doctoral degrees in engineering each year than the United States does.

#14 China has the world’s fastest train and the world’s most extensive high-speed rail network.

#15 China uses more cement than the rest of the world combined.

#16 Today, China produces nearly twice as much beer as the United States does.

#17 85 percent of all artificial Christmas trees are made in China.

#18 There are more pigs in China than in the next 43 pork producing nations combined.

#19 China is now the number one producer of wind and solar power on the entire globe.

#20 China produces more than twice as much cotton as the United States does.

#21 China produces more than three times as much coal as the United States does.

#22 China now produces 11 times as much steel as the United States does.

#23 China controls over 90 percent of the total global supply of rare earth elements.

#24 An investigation by the U.S. Senate Committee on Armed Services found more than one million counterfeit Chinese parts in the Department of Defense supply chain.

#25 According to author Clyde Prestowitz, China’s number one export to the U.S. is computer equipment.  According to an article in U.S. News & World Report, the number one U.S. export to China is “scrap and trash”.

#26 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

And theyve had to put up suicide nets on buildings, to keep workers ( read slaves) from jumping to their deaths. Theyre BUYING canned air,, Our Clean, regulated, therefore more expensive, manufacturing has gone there, for cheap labor and unregulated production..

Quote:


That is true. However the market, for things made here, and things made their, are not a free market.
Completely different regulations.
Case in point. (Into ESS  & ECS,'field bred', dogs). Some years ago, people were all touting this, 'new' brand of tick repellent, which was Less than 1/2 the price, of the 'other', stuff. (The kind you put on you dog's back, and lasts a month +/-).

It worked, It Killed the Ticks. But, after a year, it ALSO, Killed the DOG !!!!!!!   (Made in China)

Problem is. A Wrench, Elect item, plastic item, etc., made in China, you buy it, because it is a whole lot cheaper. And No Effect, on you, (or your dog). No effect on the end user, 'after it is made'. The effects are on the people that, 'make', that item. And Yes, I am also guilty. Their are times I also buy, 'china made'.

One can buy, (essential the same), pocket knife, made in china, for 10.00, or one made in Titusville PA for 100.00. The US one, will look nicer, but after a couple of months, carrying it, using it, it's a toss up.  Now, if one 'looses' it, (happens on occasion). 10.00 loss is a lot easier to handle than a 100.00 loss.

I think almost, Anything, with any kind of 'circuit' board in it.  Coffee maker?  (try to fine one NOT made in china). Or alarm clock, gps unit, etc. Very tough to do.  90% of the stuff at a, 'dollar type store, or most mart-marts.

But when it come to something, that one ingests, or puts on the body.
I'll stick to a product, made in a country, which has regulations, on how it is made, and what goes into it.

I remember when, 'Made in Japan", was a real BAD  thing.  So bad in fact, that a number of years, Ithaca, (a US Gun Company), put "Ithaca SKB", on their firearms.  (SKB =  SAKABA which  was a company formed in the Ibaraki province of Japan in 1855).  Most people thought they were buying a, US made firearm.

SKB's, were, (and still are), a very high quality, very well made, firearm. So who knows, maybe, 'Made In China',  (in 50 years or so). May, not be such a bad thing. Of course, I believe that would depend on, a free market, and if the people are, demanding a higher quality, rather than a, 'throw away'.

What we have seen ALL our lives is a growth of Crony Capitalism. Government regulation created and used in a form of nepotism, and, its easier and every bit as descriptive to run the words together,, ya get
Crapitalism..

justin_o_guy2 wrote on 10/13/14 at 09:22:13:


All powerful countries were built on the backs of slaves. Egypt, Rome, England, America, ect...

justin_o_guy2 wrote on 10/23/14 at 07:48:50:


I agree to most of this...
NAFTA was horrible for the average US worker... and still is. But I actually mostly blame the GOP for this. In so much as they were successful in making it seem that "whats good for business is good for everyone".  Perhaps the scent of "trickle down" with a really bad spin.

And yes at the time I did vote for "ears" Ross Perot, who was very much against NAFTA.

One of the things I recall being said long ago by a senator being interviewed about it.. his response as to why NAFTA "ended up" being so bad for the US..." Well Mexico just just out did us in deal".

Really? thats Washingtons response to a very very bad deal for the USA .. shrug your shoulders and say we got out done?   And here decades later ... meh sucks to be you attitude of Washington.. OH GAWD!

As to China, or any other low wage area. They will always have the benefit, though Washington via the lobbists sure seem to want to maximize it versus minimize it.  Japan, lost out to China, China, can lose out to India, or any number of under-developed Asian countries and are. though percent wise it is small.  China is very smart, not it seems that you have to be very smart to ... to out-smart Washington. To me though some of the things that China has done with thier wealth is MUCH smarter than say Mexico, whcih as far as I can tell has completely and utterly squandered ANY and ALL wealth with nothing to show for it. China has put massive amounts of money into thier infrastructure ( Dams, cities, space programs!), such that no matter what the world economy does they can limp along and even prosper. Even now, China is using their US dollar wealth to buy up as much resources in other countries as possible (including in the US) thus trading a fiat currency for tangible wealth they can dip into later.

What hapens to the dollar when people stop going out and spending money and the Velocity of money grinds to a near standstill? This Ebolla thing has the potential to make people want to stay away from others as much as possible, meaning that discretionary spending will slow dramatically.. I know I dont need a shirt from the mall so badly as to go shopping when Im in a city where I KNOW people have been ex[posed. Ill bet Dallas is already seeing it in their retail outlets.

Good angle to bring manufacturing back to the states and upset China's power (money) grab.


--Steve