China and Russia quit the Yankee $

[z31maniac]

And Lee doesn't seem to understand the difference between "considering" something and actually "doing it."

As usual, just trolling.

[CorvallisBMW]

There is a big difference between two countries considering diversifying their foreign exchange reserves and dumping to dollar altogether for all bilateral transactions.

[Massive Lee]

You guys are funny. While I point at the stars, you stare at the finger. If I were you, I'd be extremely worried of the day the three giants dump the US currency. It is currently not worth more than Pesos, and it'll be worth when it won't be the reference anymore.

I wonder which one of you I will patronize with WorldVision or Unicef ;-)

[e30e]

Out of curiosity, how would it affect you lee?

[joshh]

Out of curiosity, how would it affect you lee?

I don't think he's sharp enough to get that.

[e30e]

I don't think he's sharp enough to get that.

I think I'm on his ignore list so whatever.

[kishg]

it's just a matter of when not if the way things are going right now. learning mandarin is definitely a good idea.

[blueapplesoda]

white kids speaking Chinese 2jz no shit

[CorvallisBMW]

This strikes me as similar to what we faced in the 80s with Japan's rising economic power. Everyone was freaking out they would take over the US and become the world's largest economy. Kids were told to learn Japanese because soon it would be the 'world language' and English would be out. They also had an artificially de-valued currency to make their goods cheaper abroad (just like China) And what happened? The 90's sucked for them, it's referred to in Japan as 'the forgotten decade' because of the incredible stagnation of their economy (due to a variety of reasons that I don't fully understand myself)

I'm no expert on economics or int'l trade, but I see something happening:

China's pool of available workers will start to decline in 2 years. Their '1 child policy' has been in effect long enough now that it has started to curb population growth. The one thing that fuels their economy is a huge surplus of cheap labor. Once the pool of available workers levels off or even starts to shrink, wages will increase. That will begin to make Chinese goods more expensive around the world and begin to curb their economic expansion. They also face an inflation rate just above 5%, which is pretty high for and industrialized country

I don't foresee China, a communist country, taking over the US as the world's major power. I do however see them becoming more important and more of a global political power (along with Russia and Brazil)

[joshh]

This strikes me as similar to what we faced in the 80s with Japan's rising economic power. Everyone was freaking out they would take over the US and become the world's largest economy. Kids were told to learn Japanese because soon it would be the 'world language' and English would be out. They also had an artificially de-valued currency to make their goods cheaper abroad (just like China) And what happened? The 90's sucked for them, it's referred to in Japan as 'the forgotten decade' because of the incredible stagnation of their economy (due to a variety of reasons that I don't fully understand myself)

I'm no expert on economics or int'l trade, but I see something happening:

China's pool of available workers will start to decline in 2 years. Their '1 child policy' has been in effect long enough now that it has started to curb population growth. The one thing that fuels their economy is a huge surplus of cheap labor. Once the pool of available workers levels off or even starts to shrink, wages will increase. That will begin to make Chinese goods more expensive around the world and begin to curb their economic expansion. They also face an inflation rate just above 5%, which is pretty high for and industrialized country

I don't foresee China, a communist country, taking over the US as the world's major power. I do however see them becoming more important and more of a global political power (along with Russia and Brazil)

China is not going to run out of cheap labor. That will not be the reason they "top out" if they do at all for now.
China has the support they need to over take us. Specially since this country has been hell bent on destroying our own businesses for some time now.

[Farbin Kaiber]

^ The one child policy has only been in effect since 1979, so yes, their labor pool will begin to decline soon, they will have a large drop, maybe as much as 50-75% loss in the next 25-35 years as the present workforce begins to die from painting poisonous paints on products to export. That and all the other issues the West already went through in the Industrial Revolution. Keep in mind these 3rd world countries are just now having those growing pains we had 120+ years ago.

[Need4Speed1299]

Nice sig quote joshh.

[Vedubin01]

the only thing holding China back is its lack of Natural Resources.

[e30e]

the only thing holding China back is its lack of Natural Resources.

WTF? Are you kidding me? China produces 90% of the materials need for batteries and electronics, sounds like a shortage of natural resources to me. China is holding China back.

[CorvallisBMW]

China is not going to run out of cheap labor. That will not be the reason they "top out" if they do at all for now.
China has the support they need to over take us. Specially since this country has been hell bent on destroying our own businesses for some time now.

Yes, yes they are. Ever heard of the 1 child policy? Been going on for 32 years... do some research and get back to us.

And they are certainly not 'hell bent' on destroying our businesses. They are simply doing what capitalism (your sacred cow) encourages which is competition and innovation. If they can build it cheaper and sell it here that's not intent to destroy, it's just markets at work.

the only thing holding China back is its lack of Natural Resources.

srsly?

The country has a multitude of mineral reserves and holds a reputation as one of the largest producers of antimony, zinc and tungsten in the whole world. China is also known for its production of coal, iron ore, magnetite, petroleum, aluminum, natural gas, mercury, tin, lead, manganese, molybdenum, vanadium and uranium.

Read more: A List of China's Natural Resources | eHow.com http://www.ehow.com/about_5375735_li...#ixzz1Bc8Bdupb

and as e30e pointed out they hold over 90% of the world's "rare earth metals" which are needed in nearly every single electronic device.