BS: China

Subject: BS: China
From: Ed T
Date: 13 Dec 14 - 04:12 PM

""The International Monetary Fund has noticed that the U.S. is no longer the world's No. 1 economy. We have slipped to No. 2, behind China, a Communist dictatorship. China becoming the world's largest economy comes as no surprise. In the past two decades, as China moved away from a centralized economy to a communist version of free-market capitalism, it was no longer if China would become the world's largest economy but when. it's official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet. It just happened — and almost nobody noticed.""


China surpassed USA 

Subject: RE: BS: China
From: GUEST,Rahere
Date: 13 Dec 14 - 04:50 PM

Never forget in such balance sheet calculations, there is the other side which comes wth it...there's every likelihood the US is no longer the world's largest debtor either, and the Chinese just love to gamble...

Subject: RE: BS: China
From: Ed T
Date: 13 Dec 14 - 04:56 PM

""According to the U.S. Treasury Department, at the end of August 2014, more than a third of the debt was owned by foreign countries (34.4%). The largest foreign holders of U.S. debt were Mainland China (7.2%) and Japan (7.0%).

The percentage of debt owned by countries that are less friendly to America is about 10%. This includes China, several oil exporters (Ecuador, Venezuela, Iran, Iraq, Libya, etc.), and a few others. ""

Subject: RE: BS: China
From: Ed T
Date: 13 Dec 14 - 05:02 PM

Chinas debt versus western countries:

China's debt 

Subject: RE: BS: China
From: Stu
Date: 13 Dec 14 - 05:04 PM

"and almost nobody noticed."

Lots of people noticed. They were either too poor to do anything about it or too interested in short term financial gain to address with the issue and decided to kick the problem into the long grass. In the case of the latter, we'll all be hoisted by their petard. Gotta love capitalism.

Subject: RE: BS: China
From: Ed T
Date: 13 Dec 14 - 05:06 PM

China-the Economist 

Subject: RE: BS: China
From: Ed T
Date: 13 Dec 14 - 05:10 PM

From The Huff. Post:

""The fall in oil prices affects the US economy. As a significant energy consumer, the US would benefit from low oil prices. Consumers would gain in terms of lower gas costs and resultant higher real income that may motivate them to increase their expenditures. Again, businesses would benefit in terms of lower cost of production and higher profits. Combined with higher demand, businesses may increase their level of production. Therefore, the falling oil prices may accelerate the recovery of the US economy. It would boost the economy that may lead to higher business activity and employment in the US economy. However, the falling oil prices may adversely affect the US shale industry. It may make energy projects economically unfeasible and lead to production becoming financially unsustainable. Therefore, the low oil prices may be unfavorable for the states that are dependent on fracking, and the US shale industry and related industries. Overall, the falling oil prices is expected to help the US economy, and revive employment and business activity.

The low oil prices is predicted to benefit other oil importers like the European Union and Japan. Both the EU and Japan are trying to recover their troubled economies through expansionary monetary policies. The falling oil prices may help them in their recovery by boosting domestic demand and revamping business activity. Also, it may improve their exports as lower oil prices would mean that exporters' cost of production would decrease, making them more competitive in the export destinations. A similar trend would be observed in China which is also an oil importer. The low oil prices may help it to increase domestic demand and production that would help to stem its dampening economic growth.

The low oil prices are harmful for oil exporting countries. It would lead to lower oil revenues for these countries. It would be particularly difficult for the countries that are mostly dependent on oil revenues for maintaining their social programs while the ones with immense oil wealth can ride out the reduced oil prices.""

Subject: RE: BS: China
From: GUEST
Date: 13 Dec 14 - 07:20 PM

"China is a communist dictatorship [that practises] a communist version of free-market capitalism." Well now there's an amusing juxtaposition of words that, if nothing else, seems to demonstrate that someone's head is firmly up that same someone's bottom.

Subject: RE: BS: China
From: GUEST,Steve Shaw
Date: 13 Dec 14 - 07:21 PM

Bejaysus, I was that guest.

Subject: RE: BS: China
From: Ed T
Date: 13 Dec 14 - 07:30 PM

"Bejaysus, I was that guest."

Which one, the bottomer, or the bottomee-or both.
;)

Subject: RE: BS: China
From: Ed T
Date: 13 Dec 14 - 07:42 PM

Or, as they say in Berlin, "Stecken dein Kopf in deine Arsch",.
:)

Subject: RE: BS: China
From: Ebbie
Date: 13 Dec 14 - 09:24 PM

As long as China thrives so will Walmart. And vice versa...

Subject: RE: BS: China
From: Rapparee
Date: 13 Dec 14 - 10:12 PM

Others see China's economy differently. For example:

NASDAQ,
The Economist,
Several stories in China Daily,
Foreign Affairs.

Subject: RE: BS: China
From: Ed T
Date: 14 Dec 14 - 07:42 AM

"Others see China's economy differently."

Specifiically, how so, Rapparee?

Subject: RE: BS: China
From: Musket
Date: 14 Dec 14 - 09:35 AM

Something our friends in The USA don't always remember.

Capitalism by its very existence means nobody has a right, God given or Mao given, to be the biggest or best.

Turning the largest population into consumers however is cast iron guaranteed to win a pissing contest by several courses of brick.

Subject: RE: BS: China
From: Ed T
Date: 14 Dec 14 - 09:46 AM

At a minimum, the two largest world populations did a little economic "catching up" as western countries, led by the US of Oil, mired their finances in the historic chaos of the Middle East.

Subject: RE: BS: China
From: Ebbie
Date: 14 Dec 14 - 09:02 PM

Today, on television, they are running a documentary on the Korean conflict. It is difficult to watch. No wonder the Korean War memorial in DC is the most affecting to me; someone did a really good job at capturing the cold and the fear and the courage in spite of it all.

Subject: RE: BS: China
From: Ed T
Date: 18 Dec 14 - 01:42 AM

Beauty company Avon has been fined $135m (£87m) by the US Securities and Exchange Commission for paying out bribes and gifts to Chinese officials.

Avon's Chinese subsidiary paid out $8m from 2004 to 2008 in order to obtain a direct selling licence, 



Beauty company Avon has been fined $135m (£87m) by the US Securities and Exchang 

Subject: RE: BS: China
From: Bonzo3legs
Date: 18 Dec 14 - 03:17 AM

Behind the wall 2000 miles long
There's a race 600 million
Waiting for the moment when
They blow is all into oblivion

Al Jesus Price 1965!!!

Subject: RE: BS: China
From: Musket
Date: 18 Dec 14 - 05:06 AM

Naw, its easy. Just ban spitting in the street. They'd be stopped in their tracks.