therefore all G7, G4 or G2 are myth ...
if G1 matters, then it has to be USA because their currency is the most favoured one. if that is replaced they will be out of any Gs because they are the biggest debtors.
except to keep buying T-bills of yankees, Chinese government are doing whatever he can do to subvert the hegemony of US dollars,from currency swap agreements to buying up resource on the earth.......
but why you guys have bought into american debt. now you have put yourselves in a corner. they can play around with you. you will be the biggest loser.
well, in fact, we are buying up the hegemony of yankees.
you are risking yourselves. check this fine article i posted on the world economy thread.
You don't get it, do u ! What Known_Unknown meant that what you are claiming about economic powerhouse is that you guys supply cheap labour to every industry which attracts them as it helps them to cut their costs in the world market and stay competitive ! But what is lacking is true innovation, building an industry from scratch, that is what is essential in the long run. The Tatas are able to buy Jaguar,Land Rover, Corus Steel, Tetley Tea and market Tata Nano cars in the world market independently as they have earned the respect of international business community for being able to create a world class organisation form scratch with very modest resources. We don't just supply cheap labour but we also innovate side by side in crucial fields so that we can create an industry at our home and market our products competitively in the world market . Look how we turned into at IT powerhouse within 2 decades !
No, G1 = India, I insist, reaons:
Maybe the word "myth" is over-exagerrating. Much of its GDP is financed by debt, and boosted by govt spending (e.g. defence, war), but no doubt US is still truly a power ahead of others due to its uniqueness (huge immigrant country, size, political stability), just that its relative advantage has much reduced. But US will still be a member of G-XX or whatever we talk about.
in fact, Yankees are sitting on the time bomb...and we chinese are holding the blasting buttons.
sarcastic yeah?
that is not G2, that is one hirer and one mercenaries.
in your own interest you can't do it. holding US$ at a respectable level is in your interest. even if you start selling part of your asset of the bills, $ will tumble because everybody will start selling too fearing the fall. your exports will suffer like really bad.
India is truly innovative ... just look at the patent!
Agree.
Occidental - Wikipedia, the free encyclopedia
Your fortune teller is telling a current fact, bad job, mine is telling future, he says India Shines ... G1
Yes, and is it any different in today's China? Farmers being thrown off their land without compensation, hundreds of villages drowned under the 3 Gorges Dam, people disappearing for complaining against the authorities, cultural genocide of minorities, etc etc.
That's your response?
what a good job CNN-style medias does with you....that is why I always insist that CNN be the cousin of CCTV.
my point is that every country has to begin with the cheap low-end goods ,then climbing the value-chain gradually and eventually become one of high-tech club.
Certainly thanks for disclosing such a difference. Hey, you know, now a days CNN is also broadcasting tales of Chinese kids like you whereby CCTV is feeding cartoons to kids of your mentality which often shows Original CNN news as propoganda to make you happy and sleep well at night.
Your point is perfectly right, we can clearly seen the difference between CCTV cartoons effects on your v/s that of CNN.:thumbs_thmbdn:
