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Old 01-17-2011, 01:03 AM
 
Location: Meggett, SC
11,011 posts, read 10,963,433 times
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Hu Highlights Need for U.S.-China Cooperation, Questions Dollar - WSJ.com

Quote:
Chinese President Hu Jintao emphasized the need for cooperation with the U.S. in areas from new energy to space ahead of his visit to Washington this week, but he called the present U.S. dollar-dominated currency system a "product of the past" and highlighted moves to turn the yuan into a global currency.
We should all be aware of China's stance on our economy, dollar, and trade policies. This could make for an interesting few years as the Chinese continue to try and exploit our economic recession.
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Old 01-17-2011, 08:33 AM
 
Location: North Cackelacky....in the hills.
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Nothing to worry about...all is good....China needs us more than we need China....

I wonder how people here are going to like living in a nation that is no longer the leading power?

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Old 01-17-2011, 08:43 AM
 
790 posts, read 1,727,516 times
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Quote:
Originally Posted by oz in SC View Post
Nothing to worry about...all is good....China needs us more than we need China....

I wonder how people here are going to like living in a nation that is no longer the leading power?

It depends which way the US heads. There could be a major economic rivalry between the US and China where both will compete for financial influence over parts of the world, similar to the US-USSR rivalry or the US could sink to what nations like Germany, Britain and Japan are in terms of global economic influence.
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Old 01-17-2011, 08:45 AM
 
Location: Meggett, SC
11,011 posts, read 10,963,433 times
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Quote:
Originally Posted by oz in SC View Post
Nothing to worry about...all is good....China needs us more than we need China....

I wonder how people here are going to like living in a nation that is no longer the leading power?

That is what China is pushing for after all. If the dollar is no longer used as the world currency, we would officially lose that power. I think going to the yuan, however, is very very dangerous given the intentional manipulation of the currency by China. I wish people would better understand the issues that manipulation of currency since the end result is whopping inflation once the currency is set at the accurate value.
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Old 01-17-2011, 08:48 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,792,921 times
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Quote:
Originally Posted by Spindle View Post
It depends which way the US heads. There could be a major economic rivalry between the US and China where both will compete for financial influence over parts of the world, similar to the US-USSR rivalry or the US could sink to what nations like Germany, Britain and Japan are in terms of global economic influence.
I was watching this show on TV last night and the host was in China and straight out stated that China is going to be the worlds leader in the near future.This was of course not an American show but from the BBC.

Quite illuminating to see that people in other nations can see the USA fading,guess it is harder when you live here.
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Old 01-17-2011, 09:10 AM
 
790 posts, read 1,727,516 times
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Originally Posted by oz in SC View Post
I was watching this show on TV last night and the host was in China and straight out stated that China is going to be the worlds leader in the near future.This was of course not an American show but from the BBC.

Quite illuminating to see that people in other nations can see the USA fading,guess it is harder when you live here.
Well like I said, it really depends where the US heads. While the US is recovering from economic recession, China's economy is hurtling ahead at 8-10% growth per year. The number of scientists, engineers, IT workers - the real drivers of an economy - in China is ever increasing while in the US it is ever dwindling. The US is also spending trillions on wars and sustaining its military while China seems to be investing it in infrastructure and what not. These are all the sorts of reasons why China looks like it's going to overtake the US.
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Old 01-17-2011, 09:11 AM
 
Location: Raleigh, NC
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Hu's right. (pun intended)
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Old 01-17-2011, 09:17 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,792,921 times
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Quote:
Originally Posted by Spindle View Post
Well like I said, it really depends where the US heads. While the US is recovering from economic recession, China's economy is hurtling ahead at 8-10% growth per year. The number of scientists, engineers, IT workers - the real drivers of an economy - in China is ever increasing while in the US it is ever dwindling. The US is also spending trillions on wars and sustaining its military while China seems to be investing it in infrastructure and what not. These are all the sorts of reasons why China looks like it's going to overtake the US.
I am not doubting it.

Of course the USA will fade away,every nation or empire does.

I wonder how Americans will take it however.

Having an 'outsiders' view probably helps me look at this,too many Americans are wrapped up in the absolute need to be the dominant power.
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Old 01-17-2011, 09:19 AM
 
47,525 posts, read 69,431,937 times
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Quote:
Originally Posted by oz in SC View Post
I was watching this show on TV last night and the host was in China and straight out stated that China is going to be the worlds leader in the near future.This was of course not an American show but from the BBC.

Quite illuminating to see that people in other nations can see the USA fading,guess it is harder when you live here.
Well I can sure see it where I live.
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Old 01-17-2011, 09:23 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,792,921 times
Reputation: 2519
Yes but people don't LIKE to see it,don't LIKE the idea that the USA will no longer be THE power in the world....

No idea why it matters really,prior to WWII,the USA wasn't THE power,prior to WWI it was just another nation among many.
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