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Thread: China overtakes Japan as world's #2 economy

  1. #21
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by ludahai View Post
    I won't disagree with that, but I just felt it was important to note that the transformation started in 1978 with Deng Hsiaoping's Four Modernizations...
    I am rather excited at the moment as I will be travelling to Shanghai in a week for the expo (first time in China). I want to see the only commercial maglev train in operation among other things
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by Lord Tammerlain View Post
    I am rather excited at the moment as I will be travelling to Shanghai in a week for the expo (first time in China). I want to see the only commercial maglev train in operation among other things
    The maglev is cool... although I find when I'm on it, my limbs start to tingle. I've never been sure what that's from. It goes 430km/hr I guess that could be it!

    I wish I was there for the expo but oh well. Have fun and take lots of pics!

  3. #23
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by Lord Tammerlain View Post
    I am rather excited at the moment as I will be travelling to Shanghai in a week for the expo (first time in China). I want to see the only commercial maglev train in operation among other things
    Try to get off the beaten path. Don't spend all of your time in Pudong. Try to get into the old city in Puxi if you really want to experience what modicum of traditional China that still exists in Shanghai...
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by digsbe View Post
    A communist economy is bound to implode. They are in a growth bubble, and when that bubble bursts they are going to be in serious trouble.
    This may well be true if they had a Communist economy.
    However, the Chinese Economy may be many things, one thing it is most emphatically not is Communist.

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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by digsbe View Post
    They have recently made more restrictions, but it is largely communist just like the country.
    You do realize that if you define the PRC as Communist in terms of economics, then the US is far more Communist then the PRC is.

    China is arguebly the most capitalistic country in the world right now.
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by Orion View Post
    Here is the direct source in Reuters that confirms this development:
    China overtakes Japan as No.2 economy: FX chief | Reuters

    Business people in Europe are now starting to learn Mandarin as part of their degrees as well as English; Chinese business is in every corner of the world, and their country continues to develop at an unprecedented rate. Although they have a capitalist economy, their government is fascist and totalitarian in nature.

    Are we prepared for the political and economic implications if China becomes our primary supplier to our economy? Will we have to swallow our pride and increase our business with a government that is in opposition to our values?
    I thought Japan was supposed to own the world by now?
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    Re: China overtakes Japan as world's #2 economy

    The U.S.A. is partly to blame for this as poor consumers have no choice but to buy their cheap crap

    Also we are already in debt to China!!
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by Kali View Post
    The U.S.A. is partly to blame for this as poor consumers have no choice but to buy their cheap crap

    Also we are already in debt to China!!
    That's going to change. For starters, one-way trade flows can only go on as long as the consuming nation has consumers with discretionary income. That's problematic with Americans, who are basically tapped out. All of that cheap crap is about to get cheaper--much cheaper, as companies panic and offer more "Three for the Price of Two" and "50% OFF!" specials that don't show up in the inflation stats. Secondly, China's economy is about to hit the skids as its central bank tightens credit in an attempt to dampen a real-estate bubble. Analysts are talking about a soft "Goldilocks" landing, but where have we heard that before?
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  9. #29
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by obvious Child View Post
    You do realize that if you define the PRC as Communist in terms of economics, then the US is far more Communist then the PRC is.

    China is arguebly the most capitalistic country in the world right now.
    Not capitalist if you consider how open the economy is... and there is a lot more state control and finance than most people thing. Restrictions within the country make it VERY difficult for foreign companies to gain access, even for products that they make in China... that is designated for export with very little of it consumed inside the country...

    Most capitalistic? Hardly... they currently practice a form of neo-mercantilism...
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    Re: China overtakes Japan as world's #2 economy

    Quote Originally Posted by Ahlevah View Post
    That's going to change. For starters, one-way trade flows can only go on as long as the consuming nation has consumers with discretionary income. That's problematic with Americans, who are basically tapped out. All of that cheap crap is about to get cheaper--much cheaper, as companies panic and offer more "Three for the Price of Two" and "50% OFF!" specials that don't show up in the inflation stats. Secondly, China's economy is about to hit the skids as its central bank tightens credit in an attempt to dampen a real-estate bubble. Analysts are talking about a soft "Goldilocks" landing, but where have we heard that before?
    That cheap crap can't get much cheaper as labor costs within China are in the process of going up, with large numbers of foreign operations in China now forced to give raises to their employees...
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