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Old 11-06-2012, 11:27 AM
 
121 posts, read 132,903 times
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I've spent a lot of time overseas in Asia over the past few years. While i've been abroad i've noticed incredible development and economic progress in most asian nations across the board. It's pretty evident throughout SE Asia and of course mainland China. The economies are red hot. In one particular asian country i've resided in the middle class has made significant noticeable gains in quality and standard of living in just 5 years. While europe and the U.S. were crumbling housing in 2008 real estate has been rising steadily throughout Asia.

I've also noticed a lot of professional returnees too. Asian-americans and the like with professional degrees and backgrounds going to Asia to start up their businesses. It's a reverse brain drain. Some of them have made a mint in various industries without having to deal with the classic glass ceilings in the U.S.

Are we seeing a historical cycle here or passing of the torch? I feel in some ways the U.S. has reached a peak and it's on the decline. The death of the blue collar industry, the financial bust, class warfare, etc.. signals something much darker on the horizon for the U.S. and possibly the western world in general.
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Old 11-06-2012, 11:45 AM
 
Location: Ohio, USA
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Most of Europe is actually doing fine right now, it's just the US and Greece that are really having problems.
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Old 11-06-2012, 12:03 PM
 
121 posts, read 132,903 times
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Quote:
Originally Posted by CurlyFries View Post
Most of Europe is actually doing fine right now, it's just the US and Greece that are really having problems.
Spain, Italy, Portugal, etc.. look like ticking timebombs economically. Ireland and Iceland went through a significant bust too.
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Old 11-06-2012, 12:37 PM
 
Location: Ohio, USA
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Quote:
Originally Posted by scubamaniac View Post
Spain, Italy, Portugal, etc.. look like ticking timebombs economically. Ireland and Iceland went through a significant bust too.
I guess you're right there, but Germany probably has the most stable economy in the world right now.
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Old 11-06-2012, 01:02 PM
 
Location: East Coast of the United States
17,306 posts, read 19,577,939 times
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Quote:
Originally Posted by scubamaniac View Post
I've spent a lot of time overseas in Asia over the past few years. While i've been abroad i've noticed incredible development and economic progress in most asian nations across the board. It's pretty evident throughout SE Asia and of course mainland China. The economies are red hot. In one particular asian country i've resided in the middle class has made significant noticeable gains in quality and standard of living in just 5 years. While europe and the U.S. were crumbling housing in 2008 real estate has been rising steadily throughout Asia.

I've also noticed a lot of professional returnees too. Asian-americans and the like with professional degrees and backgrounds going to Asia to start up their businesses. It's a reverse brain drain. Some of them have made a mint in various industries without having to deal with the classic glass ceilings in the U.S.

Are we seeing a historical cycle here or passing of the torch? I feel in some ways the U.S. has reached a peak and it's on the decline. The death of the blue collar industry, the financial bust, class warfare, etc.. signals something much darker on the horizon for the U.S. and possibly the western world in general.
In spite of the economic problems the U.S. is facing, its GDP is still the highest of any country in the world. U.S. GDP per capita is also higher than that of Japan, Germany, the U.K. or any other highly populated country. According to a recent chart posted on the world forum, the U.S. has less than 5% of the world's population, but 39% of the world's millionaires. All of Asia is much less than that.

So, no passing of the torch in sight yet.
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Old 11-06-2012, 09:56 PM
 
Location: Macao
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Asia has a lot of easy money, lots of development, everything. I'd agree with all of that.
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Old 11-06-2012, 10:13 PM
 
Location: The western periphery of Terra Australis
24,683 posts, read 45,438,578 times
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Quote:
Originally Posted by BigCityDreamer View Post
In spite of the economic problems the U.S. is facing, its GDP is still the highest of any country in the world. U.S. GDP per capita is also higher than that of Japan, Germany, the U.K. or any other highly populated country. According to a recent chart posted on the world forum, the U.S. has less than 5% of the world's population, but 39% of the world's millionaires. All of Asia is much less than that.

So, no passing of the torch in sight yet.
Yes but the gap with China is closing.
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Old 11-07-2012, 06:06 AM
 
Location: Manila
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It already is! Why else are all these global multinationals eager to set up shop here in Asia?
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Old 11-07-2012, 07:25 AM
 
957 posts, read 1,548,806 times
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But I think Japan should be taken off of this "list." Its economy has been shrinking over the last two decades or so.

Defining the new land of opportunity also depends on what countries in Asia you're talking about.
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Old 11-07-2012, 08:28 AM
 
Location: The western periphery of Terra Australis
24,683 posts, read 45,438,578 times
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Quote:
Originally Posted by OZpharmer View Post
But I think Japan should be taken off of this "list." Its economy has been shrinking over the last two decades or so.

Defining the new land of opportunity also depends on what countries in Asia you're talking about.
I think even developing nations such as Cambodia are on the upswing. India is looking up as well, although they still face MASSIVE problems there are a few encouraging signs. Look back to 1985, much of Asia was in dire poverty, today there's still poverty but it's not as desperate. Africa, on the other hand, barely seems to have improved.
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