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Australia's dependency on exporting minerals is the major reason why Australia isn't bust like so many Western countries in the world... once the mining boom is over, the economy will collapse.
That's all nice. But you fail to mention that China is actually far more vulnerable to a gargantuan economic collapse than any country on earth.
A shadow banking system that is spiraling out of control even as we speak.
A government that has so badly cooked the books over the past few decades that nobody knows what the true financial state really is.
A sclerotic and corrupt government/private sector partnership that makes Japan look like the model of transparency.
A real estate market that has continued to operate outside the founds of market reality for years, leading to historic oversupply.
A sudden shifting of manufacturing outside of China due to skyrocketing labor costs.
An acceleration of hot money flows outside the country.
And the list goes on and on. Just like those who claimed the Euro was the currency of the future in, say, 2006, people who think China is going to be the world's reserve currency are giddily smoking on crack, not realizing that the underlying foundation of the Chinese economy is a rotten, tottering mess.
China is sitting on a huge mountain of gold - they have been aggressively snapping up global gold supplies. They have just last year, signed a bilateral trade agreement with Russia. They are one of the BRICS nations. I don't believe they are out of options regardless of levels of corruption.
China is sitting on a huge mountain of gold - they have been aggressively snapping up global gold supplies. They have just last year, signed a bilateral trade agreement with Russia. They are one of the BRICS nations. I don't believe they are out of options regardless of levels of corruption.
Have you seen the country pollution levels, my roommate is from china in college (Beijing) she says her and her family left because of how unhealthy it was there when she was five, and that was 18 years ago. The country will soon fall because of pollution levels.
Have you seen the country pollution levels, my roommate is from china in college (Beijing) she says her and her family left because of how unhealthy it was there when she was five, and that was 18 years ago. The country will soon fall because of pollution levels.
Pollution in a single city collapses an entire country of 1.3 billion?
You've been watching too many Youtube videos of economic collapse. I got sucked into this too thinking 2012 will be the end and now in summer 2013 everything is somewhat ok, just getting by in a terrible jobs recession.
when the economic collapse comes what country/countries will stand the best chance and maintain themselves the best from a economic stand point?
i heard Australia and New Zealand will stand the best chance.
What economic collapse?
That is like saying, "When the economic boom comes what country will benefit?"
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no, also do you really think pollution in china is just in one city? lol
