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No it hasn't. What you see about Dow hitting 23k or so is just quiet before the storm. The unemployment in America is unseen in history even compared to the great depression, the "prosperity" you see is due to feds or other actors likely handful of hedge funds buying but this has been attempted many times in history before. Let's get real here, no economy can "prosper" when thousands of people a day die in your city (talking about the financial hub - new york). They're just delaying it, whether it will hit them hard this summer or next winter I can't tell but it's due to happen at some point. edit: grammar...
That simply isn't true. Before this virus situation the US was booming. The dollar has been doing extremely well, the job market was strong, and US salaries have always been a league above other developed countries except Switzerland and Norway. In fields like STEM and finance other countries can't even remotely compare.
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Originally Posted by Neuling
Europeans have to think strategically. Economically the future is in Asia, not only China, but China is by far the biggest growth market for future exports. The US is becoming less and less important as it is already saturated, almost 1/5th the size of China, not to mention Trump's protectionist steps.
China's growth had been lacklustre even before the pandemic. The US will never be less important. At least not in the foreseeable future.
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Trading partner involves imports and exports. The US is still Germany's biggest export market, but China is already the biggest source of imports. And 2/3 of Germany's exports go to fellow EU-countries.
You wrote "Germans need the Chinese to buy German products", which is clearly about export, not import.
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Yes, the EU still has too much national egoism, the EU should be completed, currently we are stuck in the middle of the process.
Yeah, a process that's going so well that one of your largest member states, and arguably the most powerful one, has just left the Union.
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I don't know about the south as such, but Portugal was doing ok, there actually was a budget surplus in 2019, unemployment was low, generally people were in a good mood and optimistic.
Average salary in Portugal is barely 1k euro. That is the opposite of "doing ok".
^ I thought we were talking about the covid crises, otherwise: yes, before that the US economy was upwards ever since Trump got elected. It's obvious though they're on the downfall ever since Clinton left office...hell even the symbol of America today (Amazon) is a thing from this time of the nineties. In all other aspects they're fading: behind with cryptocurrencies, fading music and movie culture, fading machinery exports (except Tesla, but we'll see how Tesla will survive the tanking oil lack of luxuries market incoming).
That simply isn't true. Before this virus situation the US was booming. The dollar has been doing extremely well, the job market was strong, and US salaries have always been a league above other developed countries except Switzerland and Norway. In fields like STEM and finance other countries can't even remotely compare.
China's growth had been lacklustre even before the pandemic. The US will never be less important. At least not in the foreseeable future.
You wrote "Germans need the Chinese to buy German products", which is clearly about export, not import.
Yeah, a process that's going so well that one of your largest member states, and arguably the most powerful one, has just left the Union.
Average salary in Portugal is barely 1k euro. That is the opposite of "doing ok".
Much of the recent US boom was based on debt.
It is just a matter of time before China also becomes Germany's biggest export market. 5 years max.
Brits were stupid to leave, that is not the EU's fault. It was the same stupidity that made Brits follow Johnson's dead-wrong coronavirus advice, for which they are now paying the price.
Funny, when he got out of hospital he thanked the caregivers who saved his life, some of whom from the same EU which he had turned his back on and whose citizens he had alienated.
Absolute salary is not that important as long as the income pays the cost of living.
If I had to choose between Portugal and the US, I would prefer to live in Portugal because what it offers can't be compensated for by a higher income.
Absolute salary is not that important as long as the income pays the cost of living.
If I had to choose between Portugal and the US, I would prefer to live in Portugal because what it offers can't be compensated for by a higher income.
Lol no, not if you have the skills to be in white collar. Best situation would be working for an American salary with a citizenship somewhere where the government cares about you, but even then the US passport allows ease of getting another high paying job. I don't particularly like the US from a living standpoint, cars, guns, etc., but salary just doesn't compare. It's depressing looking at job boards in other countries and I'm only 28.
It's like going from "I can take a vacation to another country every month" to "I'm literally stuck" in the tech world imo. Hell, it's so easy to work from home for some companies that you can digital nomad in Indonesia on a San Francisco salary. I almost did that actually, but I chose to stay in NYC...
My hunch is that after this plague is over, many countries will accelerate decoupling from China.
The biggest foreign investors in China should be US, Japan, Taiwan and Germany. The first two have already indicated that no matter what, their companies should move their production bases out of China, even at their governments' full subsidy. Taiwan will closely follow suit.
Cost will not be the only concern after this plague but national security. Some commodities like surgical mask and ventilator, which have not been considered as strategic items, will be so in the future. A lot of other items too.
Brits were stupid to leave, that is not the EU's fault. It was the same stupidity that made Brits follow Johnson's dead-wrong coronavirus advice, for which they are now paying the price.
Funny, when he got out of hospital he thanked the caregivers who saved his life, some of whom from the same EU which he had turned his back on and whose citizens he had alienated.
Yes, Britain is not better-off leaving the EU, but there's a reason why they wanted to leave in the first place. The EU has been failing in countless fronts.
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Absolute salary is not that important as long as the income pays the cost of living.
It is important when you want to attract talent. The only reason why the US is able to attract all the talented minds in the world is money.
Your daily dose of anti-China propaganda? Do you get paid for doing that?
Anyway, regarding the Africans in China, I actually understand the Chinese. To them Africans look all the same, and when according to tests about 1 in 40 of that alien community is infected, naturally the Chinese are scared because 2.5% is a rather high percentage.
The Chinese even rioted when the isolation of Hubei was ended, Hubei residents are the same thing, a group known to have a lot of infections, it has nothing to do with race because people in Hubei are also Han Chinese.
The same thing would happen in Europe if an alien ethnic minority had a very high infection rate. The majority would start to avoid that minority. It is ugly, but I guess when people fear for their lives, most become very egoistic. I remember when Ukrainians rioted when a group of patients were taken to a Covid hospital, they shouted things like take them to Chernobyl.
It is also funny when Americans jump on the band wagon, the country that killed millions of Africans, the country where police brutality against black people is frequent and where blacks are being put in jail much more easily than whites.
Regarding the 6-day delay, that is even less than I thought. And if you read your link carefully, you will notice that even the retired expert from the American CDC office in China says it is a reasonable delay and that China took the right steps.
“They may not have said the right thing, but they were doing the right thing,” said Ray Yip, the retired founding head of the U.S. Centers for Disease Control’s office in China. “On the 20th, they sounded the alarm for the whole country, which is not an unreasonable delay.”
If health officials raise the alarm prematurely, it can damage their credibility — “like crying wolf” —and cripple their ability to mobilize the public, said Benjamin Cowley, an epidemiologist at the University of Hong Kong."
The accusation that Xi deliberately wanted the whole world to be infected is absurd. It's just part of the smear campaign that tries to paint the Chinese as cold monsters and to politicize that unfortunate catastrophe.
Yes, Britain is not better-off leaving the EU, but there's a reason why they wanted to leave in the first place. The EU has been failing in countless fronts.
It is important when you want to attract talent. The only reason why the US is able to attract all the talented minds in the world is money.
The Brexit vote was based on lies, not on EU failures. Lies like that Britain's NHS could save billions wasted on immigrants etc.
Money sure would not work with me. Most talented and bright people stay in their own countries, fortunately.
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