What was suppose to happen is that China was suppose to tour the USA and 'view' its economy and 'take back' the 'model' of the USA economy to 'build' an economy that put its people to work while building ITS OWN market places for its goods.
See, China, if they were paying their people a 'decent' wage could have a good economy, not a globally dominant economy. If they left the USA manufacturing sector alone, the 'balance of trade' might even be condusive to economic growth in Europe and the USA.
What occurred was cheap labor and the robbing of the jobs in the USA that was the backbone of its economy. What China did was to turn the global economy into 'a dirt cheap' economy whereby no one makes enough money to ever have a good quality of life.
That wasn't was suppose to happen. But, the Bush Dynasty saw a chance to make billions and get rid of the unions besides. And these Bozos went to Harvard?
The Bush Dynasty literally destroyed 'the market place' in 'The West' while substituting it with a Chinese manufacturing sector. They shot themselves and the rest of the world in the foot.
India and China could have their own autonomous economies if they never sold a darn thing outside their own boundaries so long as they paid the citizens there enough of a wage to actually provide a healthy market place.
That is not what is occurring. What happened is that the Capitalists of Wall Street kept the Chinese in the dark to its own 'internal' potential and imported all their manufacturing plants to find cheap labor. Same applies to Mexico. The Capitalists destroyed the global market place and collected huge bonuses besides because they were such geniuses.
They aren't.
They are morons that can only add and subtract and 'make up' excuses to create EXOTIC investment equations to look like geniuses while scalping every dollar they can from people that legitimately believe them. It is called a fiduciary relationship. A fiduciary relationship was once a highly ethical component to any investement relationship including purchasing a home. Today? It gets in the way.
Ethics? Oh, that only matters if Republicans can defame Democrats to tip election balances.
China overtakes Japan to become no. 2 global economic power
By David Barboza
New York Times
Posted: 08/15/2010 06:18:41 PM PDT
SHANGHAI -- After three decades of spectacular growth, China has passed Japan to become the world's second-largest economy behind the United States, according to government figures released early today.
The milestone, though anticipated for some time, is the most striking evidence yet that China's ascendance is for real and that the rest of the world will have to reckon with a new economic superpower.
The milestone was reached early today, when Tokyo said that in the second quarter, the Japanese economy was valued at about $1.28 trillion, slightly below China's figure of $1.33 trillion. The gross domestic product of the United States was roughly $14 trillion in 2009. Japan's economy grew 0.4 percent in the second quarter, Tokyo said, substantially less than forecast.
Experts say unseating Japan -- and in recent years passing Germany, France and Great Britain -- underscores China's growing clout and bolsters forecasts that China will pass the United States as the world's biggest economy as early as 2030....
http://www.mercurynews.com/news/ci_15789343?source=rss
