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Will China bury the U.S.?
Viewpoints, 01/03/10.
Date published: 1/3/2010
THE CHINA that was visited by Marco Polo The China of today speaks Mandarin and some Cantonese and has but one time zone from east to west. The Chinese people maintain a friendly outlook toward Americans, which is seldom apparent from the dialogue coming from Beijing or Washington. Formal diplomatic statements between the two nations can be laced with barbs and in-your-face rhetoric, which is so different from what one experiences walking the streets of Hong Kong or Shanghai. Americans are free to roam the cities and converse with people, who are curious and friendly. China has emerged as a major trading partner with the United States, with China going from holding approximately $10 billion of our currency a decade ago to holding more than $800 billion in a sovereign wealth fund today. This occurred because of the unquenchable appetite and spending habits of the American people. As globalization continues, it is important to note that of 6,000 suppliers to Walmart, more than 5,000 are located in China. This and other corporate transactions have resulted in China holding a vast reserve of U.S. dollars. Coupled with our appetite for petroleum, this has resulted in a great transfer of wealth. To blame China for the predicament in which the U.S. finds itself is like an overweight person blaming a food store. As Americans' propensity to spend increased, the savings rate dropped to almost zero, creating a dilemma regarding trade with China, our quality of life, and the future indebtedness of our children. The U.S., in its current dialogue with China, finds itself lecturing this major trading partner on issues relating to human rights and the environment, all while recognizing that many of our exporters are locked in mutually beneficial trade. The Chinese need this relationship to provide manufacturing jobs for the tens of millions of people who move to the cities every year seeking a better quality of life and membership in a rising middle class. Currently, for example, upscale town homes are selling in Hong Kong and Shanghai for $1.4 million, and American automobiles and the German-built Mercedes-Benz and BMW are popular among those who can afford them. EXPANDING MIDDLE CLASS
Date published: 1/3/2010
Will China bury us?
(posted by
leclare
, Jan. 5, 2010 8:42 am)
The title should be "Has China buried the United States?"
China will not bury us...they need us.
(posted by
Freedomfoist
, Jan. 3, 2010 9:37 am)
We are burying ourselves by becoming a lazy greedy people who profit from other's labors. And I am not talking about laborers who have free cadillac health insurance, unbelievable wages and incredlulous rules to avoid hard work.
The only growth industry is government which consumes mightily and produces nothing but hot air which quickly dissipates into the night.
No, the greedy wall street and financial industry types and their cohorts in government are laboring mightily to amass billions for themselves!
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