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Crazy economic growth of China

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darkjedi:
I did look at it. Losing 1/3 of the world's buyer is indeed catastrophic but at the same time we also have 1/4 less exports to buy off from them. Tough job, yes, but not completely unrecoverable, because we have another example of the same kind of major economic shift that the world survived; the fall of U.S.S.R. In both cases the world survived (or would survive) because there were other economic superpowers who could draw away the economic pressure from the superpower experiencing it. I do admit that the U.S. is the one of the most important component of the global market, but it wouldn't be the only one. Both E.U. and China and other major economic superpowers will have their own contingency plans in case one of them plunges from the global market, and at least in China's case it helped to deliver. It's only that E.U.'s higher confidence in U.S.'s apparent economic stability put them off guard when the economic shift came from an unexpected source. (it came from fraud they say  ::)) SK and Japan suffered a lot because U.S. dragged them along in their failures, but if U.S. did completely disappear neither of them will hesitate to be dragged on by E.U. or China instead, and either of them will be able to pay for Japan's and South Korea's exports. (potentially problem: the E.U. market. They might refuse to trade with us as major partners and choose Russia or Canada instead. I have little things to say for that matter) Besides, their automobile industry at least is flourishing (in SK's case, I don't know about Japan) in this brief relapse from U.S.'s overwhelming waves of expensive cars. We wouldn't really know the effect of another superpower's disappearance in the modern economy, but that's it, really. We don't know. Coming from a foreign country, I tend to put more confidence in the E.U. and Asian markets than Americans do in Obama, even if all I know are from hearsay. It's what made me interested China's economy in the first place. It's one potential superpower capable of absorbing the shock of U.S.'s continued decline, in case the recession continues, in my opinion. I didn't live in Europe so I wouldn't know how bad things are in Ace's place, so my ideas will be different from his. I'm not completely denying the possibility of global economy crashing, but I believe more in 'slow recovery' scenario because I don't really like thinking about bleak futures....  :-\ You should excuse my conviction when I insist that the world will survive even if U.S. dies. I'm using the relatively cushioned effect of U.S.S.R. downfall on world economy as the counterweight argument against the implication of U.S.'s own downfall.

mgz:

--- Quote from: AceHigh on July 13, 2009, 08:33:56 AM ---If China becomes a first class economy, then they may lose the biggest advantage: cheap labour.

--- End quote ---
if and when that happens you will see india and taiwan become much larger economic powers as the shift will come to them, or shift further depending on how things go in the middle east and result in afghanistan or iraq or something being farmed by US companies for piss cheap labor and dubbed as supporting growing democracies

and on a seperate note ide like to see what darkjedi's opinion was like if he was from bosnia instead of SK. For some reason IMO it seems like he thinks way to high of his country of origin

sdedalus83:
Taiwan?  China's got a hell of a long way to go before its cost of labor is even close to Taiwan's.

darkjedi:

--- Quote from: mgz on July 13, 2009, 05:58:57 PM ---and on a seperate note ide like to see what darkjedi's opinion was like if he was from bosnia instead of SK. For some reason IMO it seems like he thinks way to high of his country of origin

--- End quote ---

That's probably it, and rightfully so. I was born when South Korea was a third-world country, when it was going through the IMF crisis in the 1997, and I've seen how much economic hardship it put on my family. It's changed, of course, and very fast; 2001 and on I've seen so many new things in my suburban district alone every year, and that's a very small part of Korea. When I saw just how much the metropolis Seoul and Incheon developed from the year before, I was flabbergasted. (When I saw the Incheon airport for the first time, fucking shit...) Suffice it to say I wanted to be confident in the economic growth of South Korea because it will be a good thing to me when I grow up. I didn't always have the chance to experience what we call 'top-notch' environment (that's what we SK oldies called the Western and Japanese environment before) even though we weren't exceptionally poor. But anyway, it backfired. Now SK is one of the most corrupt country in the world with the parliaments literally fist fighting with each other to see who gets to get the most money, and while they are practicing wrestling in a political ring prospective college students like me are left to rot in the Army or doing some other odd jobs as NEETs. Can you bear the fact that half of SK live under $4 per hour minimum wage deals when its GDP per capita is $30,000? Anyway, I learned English precisely because I didn't want to come back to Korea if I didn't need to. But actually I want to go back, because I remember SK being a dreamworld for me when it climbed the ladder from one of the most minor country in the world to the world's 10th largest economic superpower in mere 10 years. I have a lot of attachments. I'm being optimistic about SK's economy because it means much to us. Call me nationalistic if you want, but I don't think it's a shameful thing to be proud of one's country's achievements, especially when they are good.  ;)

AceHigh:

--- Quote from: darkjedi on July 13, 2009, 10:07:56 PM ---Call me nationalistic if you want, but I don't think it's a shameful thing to be proud of one's country's achievements, especially when they are good.  ;)

--- End quote ---

Nationalism is not a bad thing, but labelling it as superpower even in economical aspect just makes you look ignorantly biased.

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