A wealthy nation made up mostly of poor people overtaking Japan?

Friday, August 20th 2010 - 02:36 UTC

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Where world economy is concerned, August 16, 2010 will go down history as a significant date. On this day, Japan quietly ceded to China the coveted title as the world's second largest economy which it had held for four decades. Read full article

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JoseAngeldeMonterrey
China´s rise poses some serious challenges to the world.
1. It is not a democracy, but a totalitarian, militarized regime with nuclear weapons.
2. It´s growth is based on cheap labor, on denying its hundreds of millions of workers basic freedoms like free and independent labor unions, etc.
3. China maintains its currency artificially undervalued in order to make goods manufactured in china more competitive than in other countries.
4. China maintains the US Dollar artifically overvalued by acquiring massive amounts of dollars every day.
Aug 20th, 2010 - 03:29 am - Link - Report abuse 0
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Nicholas
“Small countries such as Finland, Switzerland, Sweden and Australia, on the other hand, enjoy very high per capita incomes and excellent quality of life despite their relatively small GDP. This is what we should really explore.”

Yes, it's worth to explore those nations, but I can tell you (experienced in Holland, similar as Finland, but better)...do not copy their socialist welfare schemes that will eventually break them when there are more old people collecting their inflated pensions, less young, who are fed up paying more and more taxes and getting less in return.
Aug 20th, 2010 - 03:50 am - Link - Report abuse 0
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harrier61
Please bear in mind that whilst China may be the second largest economy, China itself says that it is nowhere near the second largest economic power. The Chinese know they have a long way to go.
Aug 20th, 2010 - 04:55 pm - Link - Report abuse 0
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Cadfael
All very true guys, but China is moving FAST!
Look how much they already own in Africa, they know precisely what will happen there!
You think British colonialism was bad?
You aint seen nothing yet!
Africans will be little more than coolies in their own country.
One good thing that could happen is the return of Rhodesia, once one of the richest, now one of the poorest!
Aug 21st, 2010 - 07:34 am - Link - Report abuse 0
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