Will China Overtake the US as the Number One Economic Superpower?

[Grace]

Yes.

 

[Publius1787]

Yes.

How do you figure?

 

[Brutus]

The rest of the world can consume as much as they like and can generate as much wealth as they like too. One thing they will never take away form the US is the US's ability to control the world's markets

You just don't get it. The resources upon which all "wealth" and consumption is based are drawing to a close.

The entire history of the industrial revolution has been based upon exploitation of virgin resources. There are almost no first class virgin resources left to exploit anywhere on the planet.

The US already consumes something like 830% of our equal share of world resources. This can not be maintained, period. Game over.

actually resources are getting cheaper and more plentiful. For example, there are 7 billion people now who on average are living better than an average person 50 years ago when population was only 4 billion. Now there are 5 billion cell phones, and customers who can afford them, with rare earth metals, for example.

Liberal fools have been worried about running out of resources for 1000 years. You've been brainwashed by liberals who want to use scaracity as an excuse for collectivism. THey wanted to use global warming much the same way before they were exposed. Now you know too. This is a huge day for you.

 

[konkon]

I found the transitional speech in China quite interesting, and I'm going to add a few comments to some of the points raised in the speech.

The following comes from: Excerpts of Hu Jintao's speech to China Party congress | Reuters followed by my comments after ie quotations.

"We should enhance our capacity for exploiting marine resources, resolutely safeguard China's maritime rights and interests, and build China into a maritime power."

Accompanied with this was reports on Twitter that China may arm its submarines with nukes. But on the quote above, China is seeking world domination through control of the seas, slowly at first, within its own region and it will seek to expand from there. It, I think, will try to dominate the skies too with its capable abilities using aircraft like stealth long range planes and fighters. This was not in the speech, but it's on the cards.

China will also try and dominate the electromagnetic world, via enhanced electronic communications and electromagnetics in general. Next generation type of stuff too. It's getting a head start on this, as opposed to the sea and sky initiatives, although the electromagnetic 'stuff' is crucial for enhanced developments in these fields too.

Why would China need to arm submarines when you have some of the nicest people on Earth, who are pleasant to ie do business with, within the South East Asia region. How comfortable are most of these nations, excluding perhaps Vietnam and Cambodia, with China's push for such technology? Oh, and how does this sit with us here in Australia? Just asking.

China will need to continue to dominate the export markets, like it has done so, for most of this to happen at a much speedier pace than what others might want. If China loses its export prowess its plans above will be quashed to a large extent. It has a growing population, in many respects, that will continue to use up a high percentage of its capital. It needs its export markets to service all of the above. Its eggs are in one basket on this one.

another quote:
"We should act to meet the new requirements of China's national development and security strategies and ensure that the armed forces fully carry out their historic mission in the new stage in the new century."

Some key words here are 'new', 'armed forces', 'fully carry out', 'historic mission', 'new stage'. Well just about most of it! This one doesn't sit well with me at all. Are we too busy using imported products to pay attention to such a statement? Why did they (the powerbrokers behind the carefully crafted speech) need to include armed forces, for example, here. Where's the threat? 'Historic mission' ?? ehh? It's amazing how the media didn't bother with this at all. The use of the phrase 'armed forces' makes this much less ambiguous. Same with 'carry out their historic mission'.

"We will never allow any person or force to separate Taiwan from China by any means."

Clearly. The person by any means is interesting. And force by any means is also interesting.

"We should step up efforts to transform to a new growth model and work hard to improve the quality and efficiency of the economy"

This is not something that they would openly admit to. Clearly, there are problems here, irrespective of what their 'statistics' indicate. Patches of their economy must be faultering. Large and established cities that are being serviced by the export industry and reinforced with wealth (models) from within, are being less affected, although there must be a fair bit of overcapitalisation and bubbles present.

"We will continue to encourage domestic companies to accelerate their steps to make outbound investments."

This is needed for their ambitions to dominate the world of finance into the future, and to help make the yuan a reserve currency later on. I often wonder why many including those from the US push for this too, given the structure of China's system that is oppressive and totalitarian. One should make a distinction between the great, intelligent and wonderful people of China and the systems that are enforced on them.

"We should firmly maintain the strategic focus of boosting domestic demand, speed up the establishment of a long-term mechanism for increasing consumer demand, unleash the potential of individual consumption, increase investment at a proper pace, and expand the domestic market."

Well, free up the labour markets and pretty much everything else, while you're at it. Oh, this may screw up your export prowess, especially with a slowing global economy.

"We must never let words act in place of the law or (personal) power replace the law; nor will we allow the ignoring of the law for personal benefit."

Absolute rubbish especially on the last bit.

"If we fail to handle this issue [corruption] well, it could prove fatal to the Party, and even cause the collapse of the Party and the fall of the state."

They'll get even more corrupt for many reasons; money to be taken for one, black markets of all kinds and shadow banking practices for two, a destabilizing (scientific!) socialist/communist system that is inherently flawed for three, mafia style matters to deal with for four, no real central oversight across the whole country for five .. ..

There are plenty that want the collapse of the party and the fall of the state, so they are giving them excuses to be more corrupt, cash up and hope to get a head start if the system gets changed later on. Wonder if this was going on in the Soviet Union prior to its collapse?

Combine corruption with some other key elements that can bring down this system and you have a real problem. Try and oversee this whole process from as many angles to help combat ie corruption, and you risk slowing China's real growth and putting a dent into other (future) initiatives. Communism just doesn't work.

more soon. bit tired