No, less than double digit growth is already a fact. China's economy is now pretty much a huge bubble, and unless the government manages to pull off a miracle the bubble is going to pop sooner or later.
A lesson from Edward Snowden...
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BRICS (China, Russia, ...) are going to release a new world currency based on gold (I am not saying tomorrow).
http://www.infowars.com/9-signs-that-china-is-making-a-move-against-the-u-s-dollar/
For me $ is already finished as the world currency (mainly thanks to Obama), this issue will cause hiperinflation in US and mass riots in a some time, when unwanted by the world dollars come back to US (I am not saying tomorrow).
I just have an impression that Obama just copies to the all US the socialist experiment from Detroit and the end will be the same as well.
Steve212000 wrote:
Not really. They have a good manufacturing base,unlike the US. And their personal savings rate is good,also unlike the US. They also have a solid educational structure,also unlike the US.
Solid educational structure? Dude... everyone in China hates Chinese education, and think that US education is the best in the world. I know that from personal experience. And this is one of the few times when I completely agree with them.
tomk69 wrote:
I just have an impression that Obama just copies to the all US the socialist experiment from Detroit and the end will be the same as well.
I do agree that Obama is a problem. A big one. But he only has 3 years left, and thanks to the existence of the 2 other branches of government, he can't ruin the country that much in 3 years.
I'm not so sure Snowden swore an oath, as he was a private contractor and not a military officer (the NSA is ~70% military). He probably signed a non-disclosure agreement so there might be a breach of contract issue, but that's a civil matter, not criminal.
@grimshanky Have you even watched the video? Especially after 3:30. The guy himself admits that if (and I would rather say when) other countries ditch the dollar the US is gonna be screwed - big time screwed. The day we ditch the dollar is the day we (the rest of the world) start to live better and you - America - start to live within your means (well, for a few generations you will be forced to live way beneath your means).
By the way, there's a good American Economist who you need to listen to. His name is Peter Schiff. He has a channel on YouTube too. He predicted the 08 crisis. He predicted a lot other things and his predictions have been coming true. He predicted that the Fed will never end the QE (and as you can see the Fed finds any excuse not to end it) and that it all will end really really badly for the US.
Of course, when the US economy does unravel, it will bring a short term pain to the World Economy since they are so much interconnected. But once people around the World realize they're better off without the parasite (and that's what the US is - a parasite), they'll rearrange the World Economy to protect their interests. And the sooner that day comes, the better for the vast majority of the World's population.
By the way, I saw others talking about the US education. Let me tell you something about the US education. Compared to Russian education, American education is a joke. Compared to Indian education, American education is a bigger joke.
And Dr. Michio Kaku was right. But once more people go back to India, China, Russia, and Japan, American education system will collapse. I think the Dollar's collapse is accelerating that process.
http://www.youtube.com/watch?v=NK0Y9j_CGgM
Su27Flanker wrote:
By the way, I saw others talking about the US education. Let me tell you something about the US education. Compared to Russian education, American education is a joke. Compared to Indian education, American education is a bigger joke.
And Dr. Michio Kaku was right. But once more people go back to India, China, Russia, and Japan, American education system will collapse. I think the Dollar's collapse is accelerating that process.
If there's one thing about America that I'll defend it's American education, because personally speaking it's really changed my life for the better in a way that I could never have imagined before I cam to the US. So here, I would have gone on a long rant about how great my experiences with US education have been, except that I just did that on another thread, and I don't have the energy to write something totally new, but I don't wanna just copy paste what I said on the other thread.
B-R-P wrote:
I'm not so sure Snowden swore an oath, as he was a private contractor and not a military officer (the NSA is ~70% military). He probably signed a non-disclosure agreement so there might be a breach of contract issue, but that's a civil matter, not criminal.
I'm not saying this from a right or wrong standpoint, but if the Edward Snowden incident had happened in any country in the world, that country's government would have prosecuted Snowden. For a government that's just common sense, because if they didn't prosecute him then other people like Snowden will start giving classified information to other countries, and I don't think anyone will argue with me when I say that there's not a single government in the world which would want that.
@macer75,
The fact that you defend American education doesn't mean it's not lousy. I'm very happy that it helped you to better your life. However, the fact that you bettered your life doesn't mean the US won't suffer consequences of its recless overspending and overborrowing. Unfortunately things may come crashing down on the US. Those problems start off kinda slow but then they become an avalache.
You may consider using your degree and moving out of the US. I lived there for 5 years before moving back to Russia. I just see things going downhill for the US and Western Europe for that matter. I know a lot of Russians that have moved back to Russia, many more are contemplating the move.
Well, I would never consider moving back to China. I've thought of myself as American for as long as I can remember, and even though I was born in China, I hate China more than you hate the US. I've always been sort of ... perplexed when I notice that a lot Asian Americans born in the US identify more with wheir country of descent than with the US. In my head I'm thinking, if you're Japanese-American or Korean-American then I can't speak for you, but if you're of Chinese descent, and you had to live in China for just 1 year, not as a tourist but as an actual Chinese person, then you would be so grateful when that year is finally over and you get to come back to the US, and you would never consider yourself Chinese again.
And also, speaking in purely practical terms, right now a lot of countries in the world are in bad economic situations, not just the US. Like I've said earlier in this thread, China's economic growth rate has already slowed down significantly, and, much more importantly, the economy is now a huge bubble, and could collapse in the near future. And right now Chinese college graduates are having a lot of trouble finding jobs.
Good luck in Russia Su, you will need it with Putin in charge, and your countries record on Human Rights.
I can only assume you are trolling.
Lets all calm down i will admit america is not in the best position i will not agree that russia is now the best nation in the world nor that it is more free then america.
America is still hands down the most powerful nation in the world, in terms of its economy, technology, military, education, quality of life (compared with other nations of similar scale, not those tiny West-Eurpopean countries with less population than a major US city), etc. And I don't see any other nation in the world overtaking the US, or even coming close to overtaking the US in my lifetime (and I plan on living for at least another 50 years).
China
Right now the Chinese government is afraid that the country's economy is gonna completely collapse, maybe as early as later this year.