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Old 05-12-2014, 11:38 AM
 
Location: CT
2,122 posts, read 2,407,137 times
Reputation: 1675

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Quote:
Originally Posted by Hoonose View Post
When the Chinese people have a wage and have a per capita GDP output similar to the USA, then they have arrived at the first world. This might take another generation, or 2. But I believe that it will happen. Possibly in my lifetime.
Their government will live in the first world, the people will still be slaves earning 1/4 of what we consider "poverty". US GDP is about 15 trillion, and China GDP is about 8 trillion. If the median household income in the US is around 51k, your reasoning would imply that, right now, China's median income should be 25k (annual) but in fact its more than an order of magnitude smaller than that.
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Old 05-12-2014, 11:45 AM
 
18,744 posts, read 8,368,965 times
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Quote:
Originally Posted by Sigequinox View Post
Their government will live in the first world, the people will still be slaves earning 1/4 of what we consider "poverty". US GDP is about 15 trillion, and China GDP is about 8 trillion. If the median household income in the US is around 51k, your reasoning would imply that, right now, China's median income should be 25k (annual) but in fact its more than an order of magnitude smaller than that.
I think I said that China is about where we were in the 1930's. I think it quite possible that China could accelerate their own evolution and accomplish what the USA did in 80 years in less time. Maybe a whole lot less.
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Old 05-12-2014, 12:02 PM
 
Location: NE Mississippi
25,381 posts, read 17,044,373 times
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Quote:
Originally Posted by Costaexpress View Post
Even without the national debt, future still goes to China. They are going to be a super power with a large middle class, enormous buying power, and increasing influence. America cannot stop China from becoming the main competitor. We have to learn to live with China in this new geopolitical and economic reality.
Horse pooky. China has launched a demographic time bomb which will destroy them in time. Google up "Demographic Time Bomb China" and see for yourself.
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Old 05-12-2014, 12:06 PM
 
Location: Bothell, Washington
2,812 posts, read 5,605,362 times
Reputation: 4009
Quote:
Originally Posted by HyperionGap View Post
Have you been to inland China? Like Wuhan or Chongqing? It is an ABSOLUTE SH**HOLE. I literally got sick just breathing the air on the streets for an 2 hours.
To a lesser extent it's that way even in the more modern coastal cities. Same choking air, and a mix of modern and sh**hole conditions. Definitely not anywhere close to being developed-world standards overall.
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Old 05-12-2014, 12:11 PM
 
Location: CT
2,122 posts, read 2,407,137 times
Reputation: 1675
Quote:
Originally Posted by Hoonose View Post
I think I said that China is about where we were in the 1930's. I think it quite possible that China could accelerate their own evolution and accomplish what the USA did in 80 years in less time. Maybe a whole lot less.
Our GDP/income ratio was THAT bad in the 30s?
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Old 05-12-2014, 12:16 PM
 
18,744 posts, read 8,368,965 times
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GDP per capita is what I meant.

https://www.google.com/search?q=gdp+...en-US:official

Social Democracy for the 21st Century: A Post Keynesian Perspective: US Real Per Capita GDP from 1870–2001
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Old 05-12-2014, 12:23 PM
 
Location: Living on the Coast in Oxnard CA
16,289 posts, read 32,229,651 times
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If I owe you some money then that is my problem. If I owe you millions then its your problem.

Same with China, it is their problem and they have it in their interest to be a good friend to us. So to speak, My thoughts anyway.
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Old 05-12-2014, 01:44 PM
 
552 posts, read 832,382 times
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at the current rate of the US declining ( economically and socially), China will be the dominant power soon.

Thank you Obama.
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Old 05-12-2014, 01:46 PM
 
Location: NYC
20,550 posts, read 17,549,134 times
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I tried to have a conversation about China's problem with some Chinese nationals from China but they have only optimism that China will take over the world's super power from the US one day.

Issues about copying and innovation will be resolved eventually they say.
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Old 05-12-2014, 03:56 PM
 
34,248 posts, read 19,252,443 times
Reputation: 17237
Quote:
Originally Posted by vision33r View Post
I tried to have a conversation about China's problem with some Chinese nationals from China but they have only optimism that China will take over the world's super power from the US one day.

Issues about copying and innovation will be resolved eventually they say.
As in "once we start making content those will matter". Ignoring the massive issues they face wont change the reality of them.
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