Seriously I do not know where these people come up with this crap. Why does anyone actually think China has suddenly all this money to spend, and I mean non government spending. They talk about this rising Chinese middle class, middle class compared to who other Chinese? China is a place of terribly super rich and dirt poor ( in most modernized top economic countries) Chinese middle class is not the $40k a year type we are used to seeing but rather a paltry $3000 per capita. This is why you hardly see individual Chinese taking trips abroad and spending lots of cash, simply because they don't have it folks. The Chinese you see show up always come in groups and they are those who are doing better than middle class for the most part.
I can't understand why the world tries to go gaga over China's economy right now, it is fake and a fraud and how people can't understand this is beyond my comprehension. Their economic machine is like an engine that requires premium fuel to run but they are trying to make it work using the cheapest knock off lowest grade fuel they can. Eventually the machine is going to stop working correctly and their is going to be maintenance costs that far exceed the money they generate in their economy. China simply can't survive being the worlds producer of shitty goods. The cost of doing business is rising fast in China and companies are starting to bail out of their. The people are demanding rising wages too because they are waking up to seeing that they have been underpaid grossly. Plus on top of it butt loads of Chinese continually try to and do leave the country for greener pastures throughout the world. It is much the same as with Indians too, proof that unless you actually have a sustainable economy, modernized and at least have your population in check, your best and brightest potential future stars of society will continue to flee. It is why you still see people who will be like oh i was a surgeon back home but now i am a taxi driver etc etc, because they actually make more money even despite the drastic cost of living difference. They also give their children a better and brighter future too.
Everyone can talk shit about the US all they want but the fact remains the majority of people trying to immigrate to another country still place the US as the #1 place. Even with our economic slump we still offer more opportunities on an equal scale than anyone else in the world. America truly is the land of equal opportunities, but it does not guarantee equal success for everyone. This is also why it is so critical that we steer away from socialist programs that try to spread the wealth to those who do little to deserve it. Europe is a ship sinking fast after their failed socialistic policies have bankrupted them far beyond you can even imagine and way more than they are telling you. I smelled that stinky dead fish from across the pond years ago and I openly questioned how can this charade of a shell game keep continuing and for how long. The funny thing is back to China and it is the Chinese who are buying up Europe's worthless debt, and I have a feeling it will be the catalyst that starts to break the so called Chinese economic machine. Europe will take decades to fully recover, unless they figure some way to manipulate and con the world into believing they are somehow stable again and refocus the worlds economic woes back on the US as they have tried to do to cover their asses. The funny thing for the US is that despite our economic downturn right now, we still manage to keep chugging right along.
Just remember too that during all this that the US has never lost its #1 status as the world economic super power, you can chuck all the lowered credit ratings and stuff out the window too. Simply put the US is #1 has been #1 for a shit long time and will continue to be #1 for the very foreseeable future too. The only difference that has ever happened is that other countries have battled it out for the other top spots and that basically the gap has closed more now than ever before. Other places might be getting closer, but getting closer and beating us is two different ball games.
So in closing, China may have a booming middle class within their own borders and you know what who cares. They always had a middle class and it probably has been the same % as it always has been, the only difference now is that the level of $ made is obviously more. China needs like a good civil war that could say eliminate about 1 billion people, then they would at least close the gap even further and actually be a player in the real global economy.
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