The 00's the Chinese Decade and Chinese Triumphalism

Why would anyone claim triumph when you're at the top? It would be like Micheal Jordan proclaiming he's the best basketball player in the world back when the Bulls were winning championships.

There's no such article because it's implied.

Got the GM analogy. But my point is that the US is hardly "living up to potential" in its own right. Comparing potential is a pretty pointless thing to do, as I'm sure as a fellow basketball fan can relate.

 

Some dude said Chinese make 3K (peanuts) a year. I say
when you divide everything by 1.4 billion, everything will get small.

I bet the an average Chinese dude has more money in his back pocket than this dude has in his bank account. I can also venture to guess the only paper this dude has in his back pocket are toilet papers.

There are almost 3 hundred million Chinese are approaching
middle class status. That's the entire population of this dude's country. I see BMW, and Mercedez all over the place. We have some of the coolest buildings in the world .(too many, I lose count)

We also have some of the most sleek subways in our major
cities. I rode theirs in New York, I can't even get off the train
without getting mugged. I called the police, they told me just go home and take a shower.

This dude needs to get a passport and get his ass over here and see how we live. Last I check, only 25% of their people have a passport. That means 75% of them never travel to other countries and see how others live. This statistic shocked me too; and yet they talk like they know everything about other countries. Oh yea, I forgot, they got CNN to provide everything they need to know.

We just launched a high speed train that stretches more than 600 miles long. It rides like as if you're sitting in your living room. The seats are wide and comfortable; even if you have a fat wife sitting on your lap, the seat still holds. It runs so fast, it leave this dude's country in this area in the dust. We will have 42 lines of these high speed trains travel at 350 kph in the next 2 years. Can you say Zoom Zoom ?

Hey, we are going green !

 

If you look at per Capital income it's not that high. However, in the city, among the college graduates (or even trade school), it's common for some one in their early 20s to make $800 a month. Cost of living is very low over there (public health care, really good public transportation, cheap basic foods and needs) so there are a ton of disposable income. The only thing that's expensive is housing, but a lot of youngsters live at home so they save that money.

Also too add, those graduating from good schools and etc can make as much as they do here, if not more.

 

James Chanos is calling it a bubble that's about to burst soon.

He's a really sharp guy that has made huge bets betting against home builders, banks, Enron, Boston Market, etc. He saw the US real estate bubble and profitted. I'll bet on him being right over the government officials anyday.

http://www.nytimes.com/2010/01/08/business/global/08chanos.html

 

That's what she said.


And now joining ignore, it's you!

 

You are one hot chick, and that's a compliment. :grin:

 

He is right about the fact that China's economy is in much worse shape than it looks and the growth numbers are inflated and inaccurate. However, he is wrong about a bubble bursting in China. In China there will never be a bubble burst as long as the economy is still controlled by the government (i.e. the party) which has enormous resources to influence investments and the market and prevent a hard landing. That in a way is an advantage of a totalitarian system which is all about control. A controlled economy does not suffer crash or instantaneous collapse like a free economy. A system like China's will only die a slow and painful death which has been already underway for some time.

 

China is funding the USA's war in Iraq and Afghanistan

 

For every Chanos, there are Jimmy Rodgers and Warren Buffets.

My bet is with Jimmy Rodgers and Warren Buffets.