In my mind, there is absolutely no doubt that China will overtake USA, and become the biggest and maybe even the most powerful economy in the world!
The fact alone, that they have a population that is almost 4 times bigger than USA.
Looking at the Chinese schools, and education system, they are probably the ones who have come the furthest, when you look at the skills that the children are learning at an early age..It scares me to see the education system in my own country, where the main focus is to get everyone through, not really taking care of the children who have special skills...making sure that the country is provided with a workforce with special skills...Another worrying focus is the teachers...their main concern is their salary..basically not caring about creating the best learn space for the children...That is where China i way ahead of us!
In the western economies, the workforces are paid too high salaries to compete in the long run...the chinese are able to hire three for the price of one..and they can sell the manufactured goods at a much lower price..
So in the long run, the western economies are being left behind...sad but true!
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I agree with what you say but as one who understands the different classes in economics.....why (if i was apart of the working poor) would i want to work for a lower wage? Do you think the lower wages are a result Chinese citizens wanting to be more competitive in the global economic market place or because democracy and freedom aren't as important to the Chinese status quo?
Also i find it ironic that China literally has laws preventing the number of children a family can have whereas in America we just use subtle indirect methods of population control like gun violence, drugs and disease.....
No, they don't choose the low wages voluntarily..it's just how their economy works..Things are generally cheaper, people don't need that much money to live..that keeps the wages down...so democrazy..or the lack thereof..
Well, they have to have the one-child policy..otherwise there will be no work, not enough food produced in China...Then they would have to import more...putting an upwards pressure on prices...making them less competative..
They really got it figured out..
Absolutly correct. And also what i experienced that even in the poor wester europian countries the education is better. Why? Because they are poor. So if they have a good education they can work abroad.
No, because education is their main concern..Not to get better working hours, union trouble or higher salaries..
We, in the west are far too spoiled!
in roughly the same amount of land, is that an advantage?
Well, it means that they have to be far more efficient with everything they do...That effectivenes makes them very competative..
Land size means nothing in this matter, but of course ressources could be a problem..
There is a population of untreated mentally ill people in China as large as the American population. Of course their lack of resources is a disadvantage. China has to import human manure for their crops already.
Didn't hear that one with the manure🙂 The Chinese workforce is enormous...people working from the age of 5 till 75 or more..With all the child labour, it's no wonder they can keep the salaries down..
They import it by the shipload from Hong Kong. They have to also import a lot of their energy and raw materials, they are resource poor. I was assembling grills one time and occasionally we would find tiny footprints in the dust on the sheet metal.