A sign of China's rise: Its prime minister recently lectured the United States like a first world country nervous about the health of a third world economy.
“Request the U.S. to maintain its good credit and guarantee the safety of China’s assets,” Wen Jiabao said.
China has even pushed for dumping the dollar as a world currency and replacing it with something new and, they suggest, more trustworthy.
China's economy is still small compared to the United States, but as the economy of the United States shrinks, China is still booming and still on track for the long term.
“They’re thinking about a 40- or 50-year time span,” said China expert Arthur Kroeber. “It’s quite clear at the end of that time that China will certainly be one of the major economies in the world, with the U.S. being the other one.”
What Americans aren't buying - made-for-export items from speakers to socks to sewing machines - are being snapped up here. And if at least China's economy is humming, that's good for the United States.
“This is one of the few remaining hopes that we can prevent the global recession from plunging into a great depression,” said Victor Gao, a China economic specialist.
But China has problems that could stunt its growth. With per capita income of only $3,000 dollars a year, its own people aren't rich enough to buy all the products it once sold to the world - so many factories are shuttered. An estimated 30 million are unemployed out of nearly 900 million workers. Six million more of this year's college graduates crowd job fairs fearful they may join the jobless. -----------------------------------------------
Mrs. Earth has run out of Titty Milk,she will start rationing her Milk starting with the lazy fatass shiftless masses of asses wasting thier Milk supply. As of this moment Ladies you will not waste any FOOD!
Both parties are now on the take from the same corporate lobbyists.
The jobs report is out, it's worse than expected. The national jobless rate rose past 8.5%. These #s don't even factor in under-employment. Most people have settled for lower wages, less hrs & fewer benefits. Underemployment is worse than unemployment. It's around 16%. This is madness! we keep bailing out & pumping billions into the lavish execs, ceos n cfo's. Their theory? it ($) will trickle down. They will be nice enough to give people loans. Washington is continuing to ignore outsourcing & free trade ('cause their global corp. buddies "rake in" higher profit margins, sending our jobs overseas). The upper management lives like kings w/ slave wages,no regulations,no quality control hassles, no worry about polluting,no social security,no benefits, dump your toxic waste in the rivers. Saves $. ............& our borders are still a joke. hhhhmmmmmm...wonder why? I've got news for you Washington! people won't be standing in lines buying up those cars & houses! We need to get control of our gov't immediately. Remove all lobbyists! Remove all corporate funding in campaigns. let them vote like "we the people" I'd bail from the market, nothing is regulated anymore. The SEC can't even enforce a reg- sho proposal. Nobody even knows how many outstanding shares are "really" in your stocks anymore. The SEC is one of the worst depts in the gov't. It's overpaid! & completely useless! I doubt they even show up to work 50% of the year. Nothing is being fixed, we're just spending a whole bunch'a $ & the top 2-4% of the wealthiest "bloodsuckers" in the world are circulating it amongst themselves. They have siezed total control! This is the largest class separation in history. Don't be surprised to see increases in welfare/or tent cities! I guess they will section 8 their gluttonous housing grab. They still haven't imprisoned the pigs who profited off of toxic CDO's,junk mortgage backed securities,flooding the mkt w/pools of toxic assets,rubberstamping tripple A ratings,writing out credit default swaps til no end. This AIG fiasco! (the black hole of spending) w/ trillions in credit default swaps outstanding! They were even greedier than Maddoff!
ps. you may want to look into bank regulations. The Glass-Stegal act was put in place in 1933 to avoid greedy wallstreet banking & taken out in 1999. Allowing bank execs to run wild! commercial banks are now "corrupt" Wallstreet banks. also the CRA "loose loans" act of 95. It basically takes out numerous rules of home buying n selling. Sound familar Fanny? Freddy? They are either incompetent or on the take in Washington. They have not put any regulation back in! Regulation that they took out. It's allowing rich criminals to steal so much, it's effecting the whole world!!