China economy picks up speed, sets some alarm bells ringing (AFP)

[Anchor Man]

http://us.rd.yahoo.com/dailynews/rs....yahoo.com/s/afp/20060420/bs_afp/chinaeconomyAFP - China's booming economy grew 10.2 percent in the first quarter, picking up from last year's already breakneck pace to spark a fresh warning the pursuit of growth for its own sake could lead to problems.


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[Max_DC]

yeah, China will pwn us all... sad but true....

 

[TurboSmoke]

yeah, China will pwn us all... sad but true....

Chinas economic growth can only be a good thing...

 

[TwinTurboJay]

I read a report this morning that the Chinese are under investigation for industrial espionage in Canada. They of course are denying it, but there apparently will be further investigative research.

 

[Danoff]

China has a long long way to go. But unbridled growth can lead to big problems. That's one of the reasons that the money supply has to be carefully monitored.

 

[TwinTurboJay]

I see a large market for organized crime there...anyone want to start a geeky non violent underground syndicate ?

 

[Max_DC]

Chinas economic growth can only be a good thing...

Nah not really. On the one hand : absoluly yes, on the other : not at all....
It is certainly good for the companies and the stock markets. But it's not always that good for the jobs of the western world....

 

[vladimir]

Nah not really. On the one hand : absoluly yes, on the other : not at all....
It is certainly good for the companies and the stock markets. But it's not always that good for the jobs of the western world....

uh, what about jobs and the living conditions in china?

 

[a6m5]

Way I look at it, I don't like more money in the pocket of communist country with big military.

 

[Max_DC]

uh, what about jobs and the living conditions in china?

Well of course that is great for China, but fact is, that many jobs are deleted in Europe, USA and Japan in order to produce in China ( and other former third world countries). This could kill our economies in longterm. Have a close look and you'll see the problems... A nation can't survive from the huge income of a few managers and a great stock market. Especially Germany Vladimir will get into big trouble soon, the recent financial problems aare just the beginning od a long way down. Or do you really think that we will get new jobs in industry production etc ?
Of course it's not only China... it's Mexico for the USA, and Romania, Ukraine etc for Europe and India for Japan and all mixed up.
There is no natural law that the Western countries can keep their living standart.

Way I look at it, I don't like more money in the pocket of communist country with big military.

That's the next thing, but then again... as soon as they try to use their military, they will lose their economic growth... I don't think that they'll risk it....

 

[a6m5]

That's the next thing, but then again... as soon as they try to use their military, they will lose their economic growth... I don't think that they'll risk it....

I doubt it too. It would be very stupid to, but there is an exception. They consider Taiwan as part of China, most Taiwanese don't. With the Taiwanese leaders testing the patience of China by hinting declaring official split from the mainland, China has threatened over and over for use of force to stop them.

 

[TurboSmoke]

Way I look at it, I don't like more money in the pocket of communist country with big military.

why?

 

[a6m5]

why?

Read my last post.

 

[TurboSmoke]

Read my last post.

i still dont get it, we are talking about ecomonic growth.

The Soviet Union was a large economically powerful communist nation with a massive army. Diplomacy kept them largely as an ally.

 

[TurboSmoke]

Chinese economic growth means payday for Euro and US business. In the short term we are seeing manufacturing close down and ship to China but in the long term these manufacturing plants and other businesses will be able to do good business with us.

It will be good for the world to have another super power. The break up of the Soviet Union had that one bad effect.

India is another growing ecomony, mainly on the service side rather than manuf. and of course has a large air force and army, strong British allies though and its always a pleasure to do business with India.

Also if it helps a mainly poor 3rd world country to release the shackels of poverty then who can possibly oppose that?

 

[a6m5]

i still dont get it, we are talking about ecomonic growth.

The Soviet Union was a large economically powerful communist nation with a massive army. Diplomacy kept them largely as an ally.

I guess you were probably in a coma during the Cold War, eh? j/k Soviet Union was a very powerful communist country with lots of resources and very big military. We were very, very afraid of them. I'm pretty certain that we came close to a ICBM shootout between the U.S. and the U.S.S.R. a few times, which would have effectively destroyed most of the world.

This "diplomacy" and "economic growth" is bringing in plenty of money and technology into China right now. Since, like forever, countries in the West has been keeping keen eye on high tech, especially computer related, from being stolen by the Chinese spies. I'm sure you can guess what the Chinese are trying to do with the latest chip they stole from the West, no, it's not for a new microwave oven they are working on.

Finally, take a look at how the Chinese government treat their own citizens. At times, they act like North Korea with bit of U.S. influence. As long as the current administration is in charge, I do not trust them. With their economic power rising, they will be able to influence other nations with money, also. They already started pressuring Taiwan with this, just week or two ago.

P.S. Big communist military in Far East might not be any threat to you, since you live in Scotland. Put your self in the shoes of Taiwan or Japan, which are in territorial dispute with China. Chinese Navy vessels, subs are invading our EEZ all the time. Richer, both financially and technologically, China is very intimidating to some.

 

[TurboSmoke]

you make some good points, but i still maintain that in the grand scheme of things, the waking of the Sleeping Dragon is more of a good thing than a bad thing.

the cold war was a political struggle rather than a direct military one, most of us were safe (incuding soviets and americans) as longs systems were in place to head of any major confrontation. Both were a detterrant to the other. I dont think were close to all out war, neither side had anything to gain by annialation of the other.

if China does try to recliam Taiwan or Nepal or whatever else it wants then this wil surely be of concern to the international communuty. China would have to be in a strong position to contemplate that which is unlikely for a long time in my opinion. No nation can defeat the current US and her allies in all out war and China knows that.

I would like to see China open up more, flourish and become more environmentally responsible. A strong ecomony is the only way to do this.

I guess you were probably in a coma during the Cold War, eh? j/k Soviet Union was a very powerful communist country with lots of resources and very big military. We were very, very afraid of them. I'm pretty certain that we came close to a ICBM shootout between the U.S. and the U.S.S.R. a few times, which would have effectively destroyed most of the world.

This "diplomacy" and "economic growth" is bringing in plenty of money and technology into China right now. Since, like forever, countries in the West has been keeping keen eye on high tech, especially computer related, from being stolen by the Chinese spies. I'm sure you can guess what the Chinese are trying to do with the latest chip they stole from the West, no, it's not for a new microwave oven they are working on.

Finally, take a look at how the Chinese government treat their own citizens. At times, they act like North Korea with bit of U.S. influence. As long as the current administration is in charge, I do not trust them. With their economic power rising, they will be able to influence other nations with money, also. They already started pressuring Taiwan with this, just week or two ago.

P.S. Big communist military in Far East might not be any threat to you, since you live in Scotland. Put your self in the shoes of Taiwan or Japan, which are in territorial dispute with China. Chinese Navy vessels, subs are invading our EEZ all the time. Richer, both financially and technologically, China is very intimidating to some.

 

[Max_DC]

Chinese economic growth means payday for Euro and US business. In the short term we are seeing manufacturing close down and ship to China but in the long term these manufacturing plants and other businesses will be able to do good business with us.

It will be good for the world to have another super power. The break up of the Soviet Union had that one bad effect.

India is another growing ecomony, mainly on the service side rather than manuf. and of course has a large air force and army, strong British allies though and its always a pleasure to do business with India.

Also if it helps a mainly poor 3rd world country to release the shackels of poverty then who can possibly oppose that?

To a certain degree that is wishful thinking and we all will experience the consequences in midterm.
What is your good business ? Tell me ! That is an illusion. They will invent and produce their own stuff . That's how it will work. They won't buy our goods, and even if they do, then they buy European/American brands - made in China or India.
Or take the USA... economy growth rate at 5% or sth like that. Sounds great, but fact is that they have a huge gap between imports and exports. They outsell their country - hundrets of billions every year... which works fine as long as the world keeps on investing in the USA.

The majority of the population in the western world is very likely to lose finacial power and influence, some finacial tycoons are the exception.
We also lose population. Less working population and less jobs and many old people...
Oh the "poor former third world countries" will own us big time. Watch it !

 

[TurboSmoke]

To a certain degree that is wishful thinking and we all will experience the consequences in midterm.
.....
Oh the "poor former third world countries" will own us big time. Watch it !

there are other benefits to a strong China, just think of the tourist potential. There is only one Statue of Liberty, Grand Canyon etc...when the Chinese start visitng your country in thier billions i am sure you'll see a significant rise in tourism revenues.

If i were American i would get my arse (ass) down to Mount Rushmore and set up my stall selling Chinese made plastic souvineers. Oh and dont forget the sign "We Accept Yuan"....you'll make a fortune...