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Have you seen our roads and infrastructure lately? China has more modern highways than we go now, and theirs are well kept and new....and that's just the beginning. Their airports, shipyards, ports etc etc etc...
China is rising fast. In part because it has a government that is fairly efficient at giving the bulk of the population what they actually want. This seems to work better than a choice every few years between members of a political elite who then fail to deliver most of what the voters thought they were voting for.
China is however still a middling nation in terms of wealth per head. This is likely to remain the case for decades.
China is also somewhat isolated politically and culturally. Plus, China’s performance now remains in the fledgling stage, despite the hoopla.
Oh, I agree entirely. The point isn’t that China is the impending the new colossus, the anointed one, its primacy being inevitable, and only a matter of time. Rather, the point is that if America tires of world leadership, it will sustain all sorts of deleterious consequences. And if a new world-leading nation arises, that nation will get to enjoy all sorts of benefits, to some extent without necessarily harming anyone's interests in the process, but also to some extent abridging the former leading-nations privileges.
Oh, I agree entirely. The point isn’t that China is the impending the new colossus, the anointed one, its primacy being inevitable, and only a matter of time. Rather, the point is that if America tires of world leadership, it will sustain all sorts of deleterious consequences. And if a new world-leading nation arises, that nation will get to enjoy all sorts of benefits, to some extent without necessarily harming anyone's interests in the process, but also to some extent abridging the former leading-nations privileges.
agreed.
I want to edit my previous post. (I don't want to use the word NEVER because future is certainly unpredictable. )
In addition to the massive number of people living in abject poverty, there are those sticky little problems like pollution, corruption, education reform, etc... Instead of worrying about China's ranking on the international vanity scale, it will be wise for China to focus on governing itself better, as China's own president Xi had said.
I have to say that Chinese people are extremely smart. My grandpa went to China to start a business after June 4, 1989 Tiananmen Massacre. (back then, China offered amazing deals in order to attract foreign investors) At the time, I was about 3 years old. He (grandpa) said China would be a powerhouse, all my siblings and I could speak Mandarin because of that. (Trump's granddaughter can also speak Mandarin for the same reason, I assume)
They are powerhouse indeed, but powerhouse is not the same as world leader.
Although strong in economics and military, China is still very limited in international diplomacy, cultural/global presence, and domestic policy. China is pretty passive in global affairs and prefers to keep a low profile. China does not lead. It does not shape international diplomacy, drive other nations’ policies, forge global consensus, or put together coalitions or solve problems. A true global power can influence other nations and events. And while China is a global player and possesses comprehensive power in their own right, they are not a global leader that has exercised enough power and influence in any one particular region by shaping their desired outcome.
I am just so glad that we are not longer the so called world leader. If China wanted to do it, let them. There are a LOT we can learn from the Chinese though. (look at how they deal with the so called war on terror, they are the ONLY and true winner here.)
China's in a death spiral cause its working age pop's dropping every year on real numbers and, the downturn WILL be MUCH worse as its Baby Boomers and Gen X people retire. That country doesn't have a lot of millennials.
Germany's in the same demographic hot mess as China with ITS pop dropping year by year.
My heart agrees, but my head knows better. Do you guys ever consider the long term effects on the US dollar?
The dollar will be fine. Stop looking for reasons to keep sticking our noses in everyone's business.
If constantly interfering in other nation's affairs and staying in perpetual wars is what's needed to keep the dollar's prestige, then that's too high of a price to pay. I don't care about the dollar that much.
Most large dollar holdings are by Asian countries and have to do with their export relationships with the US, not with being the "world reserve currency" per se. They have already diversified into Euros to some extent.
Use of the dollar to denominate spot market oil prices no longer has any significance as all since it is no longer necessary to hold dollars for any length of time to buy and sell at dollar-denominated prices.
The dollar will be fine. Stop looking for reasons to keep sticking our noses in everyone's business.
If constantly interfering in other nation's affairs and staying in perpetual wars is what's needed to keep the dollar's prestige, then that's too high of a price to pay. I don't care about the dollar that much.
Sorry.
The dollar is the reserve currency and our dominance in the world keeps it that way. There are far too many US dollars in the world for little-old-us to handle without massive inflation. We need the dollar to remain the reserve currency if we want to avoid a complete economic disaster. You think the dollar will be fine? Great, but you will have to forgive me if I don't take your word for it.
Most large dollar holdings are by Asian countries and have to do with their export relationships with the US, not with being the "world reserve currency" per se. They have already diversified into Euros to some extent.
Use of the dollar to denominate spot market oil prices no longer has any significance as all since it is no longer necessary to hold dollars for any length of time to buy and sell at dollar-denominated prices.
US dollar holdings are around 5 trillion. Euro holdings are only 1.5 trillion. There is still a long way to fall.
The dollar is the reserve currency and our dominance in the world keeps it that way. There are far too many US dollars in the world for little-old-us to handle without massive inflation. We need the dollar to remain the reserve currency if we want to avoid a complete economic disaster. You think the dollar will be fine? Great, but you will have to forgive me if I don't take your word for it.
It's not worth perpetual wars and causing enmity around the world. It just isn't.
We were not a nation created on building empires and raising multi billion dollar armies to defend it around the world. You're worried about the wrong thing. What you need to be worried about is our imminent decline as the cost of being the world's biggest bully bleeds this nation dry and leaves us on our knees. We can't afford it.
At that point, our enemies will RIGHTLY pick at our bones like fricken vultures and give us the payback that we deserve for our 70+ years of might makes right haughtiness.
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