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Old 27th November 2006, 05:35 AM
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West must prepare for Chinese, Indian dominance: Wolfensohn

West must prepare for Chinese, Indian dominance: Wolfensohn

http://news.yahoo.com/s/afp/20061126...aeconomygrowth

IMO, it won't take till 2050 - Wolfensohn forgot to factor in currency changes. That alone will shorten the time required to 2030.

Hang on to your single words chinese generics, they are going to be useful for that retirement home.

Last edited by touchring; 27th November 2006 at 05:43 AM..
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Old 27th November 2006, 09:15 AM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

Quote:
Originally Posted by touchring
West must prepare for Chinese, Indian dominance: Wolfensohn

http://news.yahoo.com/s/afp/20061126...aeconomygrowth

IMO, it won't take till 2050 - Wolfensohn forgot to factor in currency changes. That alone will shorten the time required to 2030.

Hang on to your single words chinese generics, they are going to be useful for that retirement home.
Actually, he is already saying 2030, but even this I think doesn't correctly present the enormity of the challenge.

The US and indeed all Western Nations need to be asking themselves some serious questions. Where can Western Nations excel where China and India won't be able to compete? Well, from where I am looking not many areas. With Airbus, China is even getting firmly into manufacture of passenger jets, they are certainly taking the electronic hardware manufacturing by storm. There appear to be few if any areas that that are not capable of addressing. The UK prides itself on financial services, but China is effectively already the US Government's Bank.

What people don't understand is the picture is already drastically understated because of exchange rate differentials. Japan climbed from nowhere in a very short period of time. In terms of Japanese Yen, it didn't grow any faster than China, it simply achieved much of the growth in dollar terms through currency appreciation.
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Old 27th November 2006, 09:29 AM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

Quote:
Originally Posted by Rubber Duck
Actually, he is already saying 2030, but even this I think doesn't correctly present the enormity of the challenge.

The US and indeed all Western Nations need to be asking themselves some serious questions. Where can Western Nations excel where China and India won't be able to compete? Well, from where I am looking not many areas. With Airbus, China is even getting firmly into manufacture of passenger jets, they are certainly taking the electronic hardware manufacturing by storm. There appear to be few if any areas that that are not capable of addressing. The UK prides itself on financial services, but China is effectively already the US Government's Bank.

What people don't understand is the picture is already drastically understated because of exchange rate differentials. Japan climbed from nowhere in a very short period of time. In terms of Japanese Yen, it didn't grow any faster than China, it simply achieved much of the growth in dollar terms through currency appreciation.

I think this isn't a zero sum game as the bush administration has always said, an emerging indian and chinese economy will provide additional markets for American corps (not sure about British though).

But the problem is, it's the corps that earn, not the ordinary people - http://www.usatoday.com/money/2006-0...-richest_x.htm ( Sheldon Adelson from his Macao casinos).

Last edited by touchring; 27th November 2006 at 09:40 AM..
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Old 27th November 2006, 09:42 AM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

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Originally Posted by touchring
I think this isn't a zero sum game as the bush administration has always said, an emerging indian and chinese economy will provide additional markets for American corps (not sure about British though).
Absolutely right, business is never a zero sum game.

Energy resources will be until we manage to develop new technologies to overcome the looming bottleneck. Never mind George has secured Americas share in Iraq, even if he is alienating much of the Middle East.

The British have had to learn to be a lot more pragmatic than the Americans. Consequentially, their current mindset is a lot more suited to adapting to a changing world. We are also not quite in the financial hell hole that the US is. The full scale of the problem will not be intimated to the American people until after the next US election has been rigged.
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Old 27th November 2006, 01:15 PM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

Quote:
Originally Posted by Rubber Duck
Absolutely right, business is never a zero sum game.

Energy resources will be until we manage to develop new technologies to overcome the looming bottleneck. Never mind George has secured Americas share in Iraq, even if he is alienating much of the Middle East.

The British have had to learn to be a lot more pragmatic than the Americans. Consequentially, their current mindset is a lot more suited to adapting to a changing world. We are also not quite in the financial hell hole that the US is. The full scale of the problem will not be intimated to the American people until after the next US election has been rigged.

From my understanding, the Brits are surely pragmatic, money comes first, even KGB money. :p

Yup, the chinese had catered for higher oil prices, subways for 16 cities. Reduced dependency on motor vehicle.

http://www.skyscrapercity.com/showth...t=subway+china
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Old 27th November 2006, 05:20 PM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

Yes, I dont think they can pull enough oil out of the ground fast enough to sustain that growth, and this also doesn't take into account the coming potential effects from global warming.
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Old 27th November 2006, 05:26 PM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

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Yes, I dont think they can pull enough oil out of the ground fast enough to sustain that growth, and this also doesn't take into account the coming potential effects from global warming.

They are now burning coal to drive the power stations and trains, and making China a bad place to live in. I dunno, i got a small sinus prob and i get very irritated whenever i'm in china during winter time. The worst i've experienced was Shanghai in winter, cold air so my sinus problem worsens and turns black.

The money that went into real estate, scrapers should go into nuclear power stations instead. But then, coal is cheaper and there's like an unlimited supply.

The situation in India is not better, if not many times worst. Wehn i went to Calcutta last time back, the air is 10 times as bad as Shenzhen or Shanghai. One needs an oxygen tannk to survive on the street! Even white clothes turn black if you stand by the streetside long enough. The trees on the streets were all grey in color, covered with filth.

Last edited by touchring; 27th November 2006 at 05:44 PM..
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Old 27th November 2006, 06:59 PM
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Re: West must prepare for Chinese, Indian dominance: Wolfensohn

Word is China opens another coal fired plant every 8 days.

USA is planning similar - "At least 94 coal-fired electric power plants - with the capacity to power 62 million American homes - are now planned across 36 states."
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