Don’t Look Back- It’s China
One of the attitudes of the USA, is a myopic view of others. We believe, we are the biggest, brightest and best. We have been, and may be at this moment. But, we may have slipped over the zenith and be headed for a rough patch. The problem has been generated from within. Want a hint, “look at our leadership.”
They say a fish rots at the head first. The old adage is applied to business, in my opinion, it can be used to government. The number of congressional professionals who face or have been fraught with ethics violations is staggering to me. And look at the jr. admin. from IL if you want an example of inadequate leadership.
China has about a zillion people. Maybe not quite that many, but multiple times the number in our country. Even with all the undocumented workers we can’t match the cost per hour of Chinese industry. Our citizens would be thrust into depression era lifestyles if we were to compete with China for low wage manufacturing.
As China matures, they will continue to face struggles with their massive unskilled labor force. But, because of the sheer numbers they will be able to educate many millions to high technical levels. The sheer numbers in their skilled/unskilled labor forces will make the the country at the top of the economic heap.
(Reuters) – China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.
Depending on how fast its exchange rate rises, China is on course to overtake the United States and vault into the No.1 spot sometime around 2025, according to projections by the World Bank, Goldman Sachs and others.
China came close to surpassing Japan in 2009 and the disclosure by a senior official that it had now done so comes as no surprise. Indeed, Yi Gang, China’s chief currency regulator, mentioned the milestone in passing in remarks published on Friday.
“China, in fact, is now already the world’s second-largest economy,” he said in an interview with China Reform magazine posted on the website (www.safe.gov.cn) of his agency, the State Administration of Foreign Exchange.
