This.They also have more than 3x the population... of course they should be the largest economy. They are, however, still rather poor on a per capita basis.
The idea that China doing poorly is good for the US would be pretty bizarre. There's no prize for being the largest economy, whereas the export industry is pretty huge. Wealthier Chinese means more demand for US products, which is good for the US.
What are you smoking? We exported millions of our jobs TO China.Sorry, but the great Socialist experiment isn't working. China has embraced capitalism, we've gone the other direction, and this is what you get.
I'm not an economist, but their economy is larger only when you calculate production based on PPP; if you use actual dollars/yen/whatever produced, the US is still almost twice as large. I don't know what that means, is the PPP the relevant metric? Or absolute?Sorry, but the great Socialist experiment isn't working. China has embraced capitalism, we've gone the other direction, and this is what you get.
Woah, I missed that entirely... it's not even GDP, it's GNI adjusted for PPP that has exceeded that in the US. That's largely a worthless measure for comparing economies: it includes income earned by Chinese from investments abroad (e.g. in the US), then multiplies it by some factor to account for lower prices in China.I'm not an economist, but their economy is larger only when you calculate production based on PPP; if you use actual dollars/yen/whatever produced, the US is still almost twice as large. I don't know what that means, is the PPP the relevant metric? Or absolute?
To be fair, I said "more than 3X."And their population is 4.25 times the US, not "almost 3X". Their population is over double the US and EU combined.
We all knew it was going to happen, but we had like 70 years as #1. Now that its happened, I'm shocked, even though we knew it was coming.They also have more than 3x the population... of course they should be the largest economy. They are, however, still rather poor on a per capita basis.
The idea that China doing poorly is good for the US would be pretty bizarre. There's no prize for being the largest economy, whereas the export industry is pretty huge. Wealthier Chinese means more demand for US products, which is good for the US.
He's been on my ignore list for the last year, so I honestly don't know (or care).Who knows more Keg or Lyrical? Discuss...
This article goes over both sides of the argument.I'm not an economist, but their economy is larger only when you calculate production based on PPP; if you use actual dollars/yen/whatever produced, the US is still almost twice as large. I don't know what that means, is the PPP the relevant metric? Or absolute?
And their population is 4.25 times the US, not "almost 3X". Their population is over double the US and EU combined.
Is this sarcasm, or absurd stupidity? China remains the more socialist country. It's not even within the realm of debate.Sorry, but the great Socialist experiment isn't working. China has embraced capitalism, we've gone the other direction, and this is what you get.
China has practiced a form of naked capitalism over the last ten years that has been scary. This is a good exampleApple faces fresh accusations over China worker 'abuse' - Telegraph. There have also been allegations of the government turning its head the other way, while pollution is pumped in people's drinking water. A few years back, the toymakers were getting hammered for poisonous toys, made where? China. It is very much caveat emptor there.Is this sarcasm, or absurd stupidity? China remains the more socialist country. It's not even within the realm of debate.
Not to mention the subsidization of countless other businesses so they can crush overseas competitors.I wonder which part of massively subsidizing the real estate market and governmental ownership of the financial sector is naked capitalism.
^I wonder which part of massively subsidizing the real estate market and governmental ownership of the financial sector is naked capitalism.
Report Alleges Worker Abuses at China Toy Factories - Risk Compliance - WSJ^
Lol, absurd stupidity it is.
What does this have to do with socialism or capitalism? Whether it is a government owned business or a privately owned business, China does not care about safety or workers rights, period. Your stories illustrate this, but nothing to do with government control of business over there, which would show socialism v. capitalism.Report Alleges Worker Abuses at China Toy Factories - Risk Compliance - WSJ
Since you probably won't read that, workers worked up to 120 hours a week, were not paid what they were owed, and operated heavy equipment with fake safety training. There have been countless reports of this over the last ten years, coming out of China. Try watching the news some time. The attitude over there has been if someone dies while working, just roll their body out of the way and find someone else.