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Australia predicts China passes US by 2015

  1. Aug 24, 2005 #1
    Source: China boom sets our course


    China's output
    1980: $US420bn ($A556 bn)
    2005: $US8092bn.
    China is now the world's second-largest economy, twice the size of Japan.

    China as per cent of world output
    1980: 3.2%
    2005: 13.6%
    Last year China generated a quarter of the world's economic growth, more than the US.

    China's average growth rate
    1980-2005: 9.5%.
    2005-15: (forecast) 10%-plus.
    On current trends, China will over take the US by 2015 to become the world's largest economy.

    Australian exports to China/Hong Kong
    1982-83: $983 million.
    2004-05: $15,672 million.
    One in every eight export dollars we earn comes from China and revenue is growing at 24 per cent a year.
  2. jcsd
  3. Aug 24, 2005 #2
    Good....I wish China was already the worlds biggest economy.
  4. Aug 24, 2005 #3
    Keep voting republican then.

    Four more wars! ... Four more Wars! ... Should just about bankrupt you. :devil:
  5. Aug 24, 2005 #4
    Good...then all that wealth in China will disappear and it will send the world in a massive economic recession. Of course since China will have the worlds biggest GDP it will be up them to pay for the recovery and growth of the US economy. It would be nice to have someone else work to pay taxes and help me out for once. :smile: I could buy a new car and put a down payment on a house for all the money I have paid in taxes so far....of course now that I am a full time student I could use some free money too. Too bad I managed to keep a savings account for my college years....

    Sorry if I cannot bring myself to vote for having my liberties and my money taken away in name of equality of result and democracy......not matter how hard I try I just cannot do it.
  6. Aug 25, 2005 #5
    How does strengthening corporate rights protect your liberties?

    If more liberty and less taxes is what you want you should vote libertarian.
  7. Aug 25, 2005 #6
    All the indicators point to China becoming the next world power.

    Now I understand the strategy of using all the oil up as fast as we can to limit their access to cheap energy.

    They don't waste their wealth on expensive military programs either. Instead they have cost effective counter measures to all our advanced weapon systems.

    What will happen when they stop buying T-bills?
  8. Aug 25, 2005 #7


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    Let's hope no further encumbrances emerge. Textile exports proved to be a massive blow for the Chinese.
  9. Aug 25, 2005 #8


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    With over a billion people, all that land mass, and one of the world's highest national IQs, it's about damn time.
  10. Aug 25, 2005 #9


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    Highest national IQ?
  11. Aug 25, 2005 #10


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  12. Aug 25, 2005 #11


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    That's great. So The Smoking Man should hold a party by now.

    Sorry I misread your post, but could you please tell me about the other countries with high IQs?
  13. Aug 25, 2005 #12


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    Staff: Mentor

    Interest rates will increase to attract capital.

    Mortgage rates will increase - including adjustable rate mortgages, which will lead to 1) fewer people able to afford houses, which will cause 2) over-valued real estate prices to drop, and 3) more homes will go into foreclosure.

    (The long term concern for #2 is that aggregate debt in the US could exceed the ability to pay the debt.)

    Business profits will decrease as debt burden increases.

    Unemployment will increase.

    Perhaps a deflationary recession?

    There is also a concern about further revaluation of the Yuan, which would have the same effect. If OPEC countries start sell oil in Euros instead of dollars, watch out!

    Good reason to pull capital out of the US, which some folk have been doing quietly for a while.
  14. Aug 25, 2005 #13
    Very interesting! Does anyone have the corresponding US statistics to those for China?

    Not your liberties... maybe more of your money though. Believe it or not, however, opposing systems actually wouldn't take your money and burn it, or run off to Patagonia with it. They'd redistribute it, use it for the general public, social works, etc. They'd have more control of economic dealings in the country, but I don't know why that would bother anyone, given we can vote and make sure the money is used in good ways, but oh well, that's the basic ideology conflict.

    By the way, China is still officially communist, although I admit they've pulled back an enormous amount. I think they do make the point that individualist economy with a lot of freedom to exploit, speculate, etc. is not good on the long term, while a more general, national outlook is ultimately profitable.
    Last edited: Aug 25, 2005
  15. Aug 25, 2005 #14


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    Officially yes, but I am not sure what that means.

    It would seem China is more like a large corporation, and the Communist Party is the management team, and the highest level officials are like the Board of Directors.

    Well, that also seems like the old Imperial order, but the Emperor is replaced by the Chairman of the Communist Party. That doesn't seem like anything like 'communism' as Marx or others envisioned it.
  16. Aug 25, 2005 #15
    I'm not sure if people are understanding what is going on here.

    Maybe this article will help:

    It is not the Chinese who are suffering. It is the people who have IMPORTED the goods. It is up to an importer to ensure the goods they order are 'cleared'.

    (And yes that is the same Peter Mendelson responsible for the 'Dodgy Dossier' in the UK)
  17. Aug 25, 2005 #16
    :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

    You people....no matter what I say the liberals on PF are content to make stupid assumptions so I might as well not say anything at all.....

    You just let me know what I say and do for me and then you can go ahead and tell me what I need to do and what is wrong with my arguments....ok
  18. Aug 25, 2005 #17
    Since you are the only constant in the equation, perhaps it is what you say not how we interpret it.

    I was simply inferring that voting Republican was voting to strengthen corporate rights. Not suggesting that is what you meant.

    And from this statement you seem to be most concerned with personal liberty and less taxes, which are the major themes of the Libertarian party.

    I don't know if you vote Republican or not, I was just responding to what you wrote.
  19. Aug 25, 2005 #18
    Short-Term wise this might seem like a good thing due to the spike of real estate prices because of the Home-Improvement fab recently (at least in Canada it is)
  20. Aug 25, 2005 #19
    Don't try and backpedal dude......You were not merely responding to what I said you were in fact suggesting that I was going to vote republican. If you did not make any assumptions then what the hell are you doing telling me to vote libertarian when based on what I said I think it is pretty clear that I plan on doing just that. It is like If I told you, you should vote democratic... :rolleyes:
    Last edited: Aug 25, 2005
  21. Aug 25, 2005 #20
    Did I just walk into a Monty Python Sketch?

    Reduced to it's bare essentials this debate just got reduced to ...

    M: Ah, Is this the right room for an argument?
    A: I told you once.
    M: No you haven't.
    A: Yes I have.
    M: When?
    A: Just now.

    Townsend, do you truly understand, ad hominem?
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