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America v China
Apr 11, 2008 07:21
  • APAULT
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The following is an extract from a US finance/investment newsletter. It says how the US economy is in trouble and there could be a world recession. In my view it is a fight between the collapse of an aging Uncle Sam, and the growth of the emerging China (or should we say regrowth, as this is not the first time China has been a dominant power). Anyway, here it is:

IMF Warns of Global Economic Slowdown

By Jennifer Yousfi, Managing Editor

Global growth will slow to 3.7% in 2008, the International Monetary Fund announced yesterday (Wednesday), in its most recent World Economic Outlook.

There is also a 25% chance of a global recession should economic growth fall below 3% in 2008 or 2009.

The United States will largely be responsible for worldwide deceleration due to the steep correction in the U.S. housing market and continued fallout from the credit crisis, which started in the subprime sector and has spread throughout the financial system.

The IMF forecast the U.S. economy would slip into a recession in 2008, with only a slight recovery in 2009. Its projection for the United States' economic growth in the current year is 0.5% followed by a slight increase to 0.6% in 2009.

Apr 11, 2008 09:27
#1  
  • GRIZ326
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While things look gloomy, Paul, you must remember that the economy has been smoke & mirrors for many years. The economy is not run on free market conditions; the world's economists manipulate the economy. They have kept all of the jugglers balls in the air for many years, but their will come a day when the smoke clears, the mirrors break and the juggler drops the balls.

I just hope it is not any time soon because the entire world is so economically interlinked.
Apr 11, 2008 13:26
#2  
  • MARRIE
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((The following is an extract from a US finance/investment newsletter. It says how the US economy is in trouble and there could be a world recession. In my view it is a fight between the collapse of an aging Uncle Sam, and the growth of the emerging China (or should we say regrowth, as this is not the first time China has been a dominant power). Anyway, here it is:))

As griz said, it's interlink and globalization by-products one of which i think is unfriendliness to PRchina.

Apr 11, 2008 16:32
#3  
GUESTCHINA000 I hope Mr Apaul it's sincere and care about China,

But I think he just don't like Americans and is using China as a trampoline.

As a Chinese I have doubts.
Apr 11, 2008 19:16
#4  
  • MARRIE
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((should we say regrowth, as this is not the first time China has been a dominant power))

Paul, please don't sing high praise of China. The fact that Chinese cheap consummers' product, cheap domestic and overseas skilled workers bring significant impact on international economy including job market is arounsing HATRED from labours outside China. As overseas Chinese, we can feel that!
Apr 11, 2008 22:04
#5  
  • GARYKINKADE
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A very rough guideline of the use of low cost labor from a Western perspective : Great Britain > Colonial thru late 1890's North America> Southern United States (non-union wages) > Mexico(farm laborers) > Japan(after WW2) > S. Korea (after Korean conflict) > Malaysia> Mexico (manufacturing) > Central and S. America(?)> China and Pacific Rim >? > ? This could come full circle back to the U.S. in the future, after a great big fat depression in this country, which no one(here) seems to be considering or even contemplating(head in the sand complacency).
Apr 15, 2008 21:42
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  • JIMMYB
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"Paul, please don't sing high praise of China. The fact that Chinese cheap consummers' product, cheap domestic and overseas skilled workers bring significant impact on international economy including job market is arounsing HATRED from labours outside China. As overseas Chinese, we can feel that! "

Yes, Marrie. However, China is gradually losing its advantages of cheap labours. Many foreign invested corporations have begun to transfer to some countries where the labours are cheaper, for example, Thailand. Is this good or bad?
Apr 15, 2008 22:55
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  • MARRIE
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Jimmy, they have no skilled and deligent workers. You know what, north american's auto parts subcontracts would rather outsource to China thousands miles away rather than to Mexico.



Apr 15, 2008 23:46
#8  
  • GARYKINKADE
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Well, yes and no on that one MARRIE. However, you are probably more attuned to the situation than me.
Apr 22, 2008 05:04
#9  
  • GREENTRAVEL
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Jimmy,In my opinion, chinese regrowth is not just relied on foreign investment,you know that korean's econimic was in downturn in a period.One of the reason is that this country reckon on foreign investment .I agree with Marrie.
Apr 22, 2008 18:42
#10  
GUEST54109 Beg to disagree. China is not the only country with cheap, skilled and diligent workers. Thailand, Indonesia, Philippines, Vietnam, Malaysia, Cambodia are good sources of labour. Their citizens are by no means less skilled and diligent.
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