Asia’s Recovery Highlights China’s Ascendance

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Just some food for thought but if US debt blows out all these economies holding US debt ; the manufacturing will return to USA along with prosperity returning and with military presence, global dominance.
 

Koji

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Where does it say that China has single-handedly pulled out Europe out of recession. :wink:
Here:

Indeed, after the French and German economies shocked most economists this month by turning in positive performances for the second quarter, the normally conservative Deutsche Bank released a report titled, “Eurozone Q2 GDP: Made in China?”

For now, the answer seems to be yes. “It’s quite amazing, because usually Asia doesn’t play such a big role in European exports or output,” said Gilles Moec, senior European economist with Deutsche Bank in London.

French exports to China and other East Asian economies rose 18.7 percent in the second quarter, according to customs data, a sharp turnaround from the 16.2 percent drop recorded in the previous quarter. Overall exports to the region from the 16 countries that use the euro currency increased 6.3 percent in the second quarter, reversing a 6.2 percent drop in the first quarter, Mr. Moec said.
 

Daredevil

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Here:

Indeed, after the French and German economies shocked most economists this month by turning in positive performances for the second quarter, the normally conservative Deutsche Bank released a report titled, “Eurozone Q2 GDP: Made in China?”

For now, the answer seems to be yes. “It’s quite amazing, because usually Asia doesn’t play such a big role in European exports or output,” said Gilles Moec, senior European economist with Deutsche Bank in London.

French exports to China and other East Asian economies rose 18.7 percent in the second quarter, according to customs data, a sharp turnaround from the 16.2 percent drop recorded in the previous quarter. Overall exports to the region from the 16 countries that use the euro currency increased 6.3 percent in the second quarter, reversing a 6.2 percent drop in the first quarter, Mr. Moec said.
It has a question mark, so they are not sure about it. Rise in french exports by 18.7% also includes east asian nations not just China. So to say China alone single handedly pulled Europe out of recession is disingenuous.
 

advaita

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Are you kidding me? The stories are so similar that it's eerie. In fact, much of Asia's richest countries have already completed the path China is taking. Japan and Taiwan both were the world's factory for manufacturing needs in the past.
See i am not talking about the manufacturing base.
When Japs started out:
(1) They had the world fighting the economic war alongside them. The future was nothing but rosy.
(2) There economic output was easily absorbable in the vast US and European markets.
(3) They were selling Honda 350 cc in a market that was used to 700 cc plus bikes, and selling Honda cubs to the poorer economies (speaks something about there ability to think and deliver different).
(4) Their managers were daring enough to take on manufacturing in other parts of the world (to manage currency fluctuation)
(5) They were carrying a big chip on the shoulder, they had to prove a point.

Absolutely all the points are exactly in reverse gear for the Chinese today.

Though I am sure everybody will learn a lot from this phase.
 

advaita

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Just some food for thought but if US debt blows out all these economies holding US debt ; the manufacturing will return to USA along with prosperity returning and with military presence, global dominance.
US wont blow out.
These guys have a lot of human potential. Human potential is all one needs to win. They will be powering the present century too, even without manufacturing.
 

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