| Shanghai starts one-year countdown to the largest expo ever | |
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| May 23, 2009 15:36 | #21   |
 | Coolsprings suggested that if somebody feels unfairly treated then he/she can simply "LEAVE for the place you think you belong ". I want to know where that place is. In answer to your questions Marrie, in fact they have nowhere to go. No amount of diligence will provide them with a solution. The are powerless, impotent. They are at the whim of the influential elite. Maybe a few will succeed through hard work and luck but the vast majority will struggle all their lives. Such is the system. |
Last edited by BOBERT: May 23, 2009 15:37 | |
| May 23, 2009 16:10 | #22 |
| The rule of thumb is 20% of people own 80% of wealth. Such is the system inside of which elements are dynamic although system itself seems unchangeble up til now. As a result, It sounds reasonable that one person is up, the other must be down. So we still go back to the topic, ie.why we kill each other in the name of God!. Dilegence and luck do serve as drives to be up. Life is heavy and has no solution. If you let your child and child's child to abtain dream you didn't realize, you are really on the way. |
Last edited by MARRIE: May 23, 2009 16:22 |
| May 24, 2009 00:50 | #23 |
| If you look at this graph you will see that the top 2% of the world own 50% of the entire worlds wealth. http://www.gizmag.com/ If you look at this website you will see that the top 10% own 85% of the entire worlds wealth. http://www.timesonline.co.uk/ The system is patently unfair and biased to the rich. It has always been that way and I doubt it will ever change. To create a fair world would stymy risk taking and reward for intelligence and hard work. Thankfully that will never happen. Survival of the fittest is brutally harsh, but necessary for progress. As long as the overall standard of living continues to improve the system works. It's by no means perfect, but what system is. |
| May 24, 2009 15:50 | #24 |
| Bobert, the graph given just explains one phase of the issue. Hongkong’s GDP per capital (a key indicator of wealth) is comparable to Switzerland but it’s Gini rank is as poor as USA, which means in highly competitive wealthy nations or regions, the wealth distribution is more unbalanced , let’s say 10% vs, 90%… Capital intensive production benefits small nations with tiny populations. But globalization led by US holding pure capitalism is a whole process of wealth re-allocation. That means a product valued at $20 with labor cost 5$/unit producted in small rich nation can be definitely shifted to India and China where the labor cost can be lowered to $0.5 or even less. Bobert, what I am trying to say is global wealth re-allocation is creating big crisis in current rich small nations whose development largely depends reasonable systems that has been proved to work and its leaders (currently is US, former is Britain or Germany ) . The size of cake does not change but more diligent and smarter people are joining to share, let’s say India and China whose lag is mainly caused by large populations resulting from unwise policy or religion. Bobert, it’s becoming more tense but keep smiling with the hope to step into the 1/10th group. Lol.. |
Last edited by MARRIE: May 24, 2009 16:10 |
| May 24, 2009 19:42 | #25 |
| Marrie, to compare Hong Kong to Switzerland is unrealistic. It is unrealistic to isolate regions, cities or suburbs when judging national wealth. It is also unreasonable to assume that simply because Hong Kong is a wealthy region then that wealth should be evenly distributed. Of course it is not and never will be. The rich will always fight to protect their wealth and devise new schemes to do so. Globalisation is not that different to what many countries already do internally. China for instance entices low paid rural workers to factories established in special zones using capital supplied by the wealthy or the state. Not so vastly different to globalisation. When the low paid workers standard of living rises and they demand more money then the factory owners will also go offshore to source cheaper labor. It's inevitable. I agree with you that there is a tectonic shift occuring in the current world distribution of wealth and consequently it's power base. The global finacial crisis is accelerating the process. The standard of living in the contemporary rich, but debtor nations must drop and in all probabality the nations with savings but a lower standard of living will rise. China stands to be the greatest beneficiary of ths process. I live in Australia and our economy is tied in general to Asias and particular to Chinas so I welcome the shift. |
| May 24, 2009 21:15 | #26 |
| Hi Bobert, China cannot live without Australia and vice versa. My younger cousin,a handsome young Chinese boy who lives in Melbourne working in Medium field says he is OK and not that affected by the crisis. I recently browse his blog, he seems really OK ie, getting raise and a Chinese girl friend... |
Last edited by COOLSPRINGS: May 24, 2009 21:17 |
| May 25, 2009 01:33 | #27 |
| Hi Coolsprings, I also live in Melbourne. As your cousin says we have not had a serious recession here so far. We are one of the few countries to avoid the fallout of the financial crisis as far as jobs go. Of course our stock market has been decimated along with all other countries but providing China recovers soon, and it appears it will, so will we. I agree with your comment, China and Australia have a symbiotic relationship. Go China!. |
| May 26, 2009 20:59 | #28 |
| Bobert, you are almost 90 year old. i am wondering if you can think well when playing in stock market. How about forext in $A / RMB , is it a lucrative mkt? |
| May 27, 2009 00:09 | #29 |
| Hi Marrie, Here is some advice from an octogenarian with advanced alzheimers but who still plays the stock market. The US$ is collapsing under the weight of all the money America is printing and borrowing. Nobody trusts it anymore, and with good reason. The only place to hide is in gold or other commodities. Australia is viewed as a commodity based economy. The A$ has risen from US$0.63 on March 9 this year to $US0.78 today. That's a 24% rise in a little over two months. It shows no signs of stopping yet. The RMB is virtually tied to the US$ so the A$ has appreciated against the RMB by about the same amount. The US$ undoubtably has a lot further to fall and the RMB will follow it beacuse they are tied to each other. The A$ is allowed to fluctuate and could even reach parity soon. In July last year the $A was $US0.98 and the US$ is a lot weaker now. Take a look at this graph. http://indexmundi.com/ Get on board Marrie! |
Last edited by BOBERT: May 27, 2009 00:15 |
| May 27, 2009 20:05 | #30 |
| Bobert, Canadian dollar these day seem have gone wildly up against RMB. I am wondering if there is any deplomatic activities between China and Canada besides the factors you fantastic analysis. Thanks. |
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