A great bunch of lads.

0byme75341jo28

http://www.businessinsider.com/china-overtakes-us-as-worlds-largest-economy-2014-10

I'm off to China, feck the lot of ye.

To be honest I'm surprised it's took this long considering America's population is 25% smaller than China's. Shows what I know, I'm a thick f*cker.

Sir Arthur Daley

Fair play john joe enjoy

Gyalist

Saoirse Bald Punk wrote: »

http://www.businessinsider.com/china-overtakes-us-as-worlds-largest-economy-2014-10

I'm off to China, feck the lot of ye.

To be honest I'm surprised it's took this long considering America's population is 25% smaller than China's. Shows what I know, I'm a thick f*cker.

Huh? i think you mean that the US population is just about 25% of the Chinese population.

BlaasForRafa

I hear you're a racist now

0byme75341jo28

Gyalist wrote: »

Huh? i think you mean that the US population is just about 25% of the Chinese population.

Ah g'way. It's late and I'm busy changing my name to Xing...

wazky

Will I be able to receive financial advice with fly rice now?

Sir Arthur Daley

wazky wrote: »

Will I be able to receive financial advice with fly rice now?

you will of course.

Lalealynn

Saoirse Bald Punk wrote: »

http://www.businessinsider.com/china-overtakes-us-as-worlds-largest-economy-2014-10

I'm off to China, feck the lot of ye.

To be honest I'm surprised it's took this long considering America's population is 25% smaller than China's. Shows what I know, I'm a thick f*cker.

It's the world's biggest bubble economy. They build ghost cities to keep the building trade going. It will continue until they balance the economy and it will have to slow down or it will collapse and BOOM.

One trick economy ..exports.

Yurt2

Lalealynn wrote: »

It's the world's biggest bubble economy. They build ghost cities to keep the building trade going. It will continue until they balance the economy and it will have to slow down or it will collapse and BOOM.

One trick economy ..exports.

There are signs of asset bubble in peripheral cities yes. The Coastal metropolises (and Beijing Chongqing) will be fine. They have enough firepower to stave off any crises.

China as an economic power is here to stay. If you've been there and seen the long term investments in infrastructure and education you'd change your mind.

China at a national level is actually incredibly well governed, the genuinely smartest people are running affairs. If they can root out localized corruption (a not insignificant problem) it will be China's century for sure.

The (largely peaceful) economic rise of China is one of the greatest economic achievements of the last few centuries. A billion odd people pulled out of peasantry and poverty. It's not a popular opinion, but the Chinese Communist Party have actually done a hell of a job.

mickrock

https://www.youtube.com/watch?v=EgMqHL7kCtc

MadYaker

Yurt! wrote: »

There are signs of asset bubble in peripheral cities yes. The Coastal metropolises (and Beijing Chongqing) will be fine. They have enough firepower to stave off any crises.

China as an economic power is here to stay. If you've been there and seen the long term investments in infrastructure and education you'd change your mind.

China at a national level is actually incredibly well governed, the genuinely smartest people are running affairs. If they can root out localized corruption (a not insignificant problem) it will be China's century for sure.

The (largely peaceful) economic rise of China is one of the greatest economic achievements of the last few centuries. A billion odd people pulled out of peasantry and poverty. It's not a popular opinion, but the Chinese Communist Party have actually done a hell of a job.

A billion people haven't been pulled out of peasantry and poverty. Their economic revolution has largely been confined to urban areas. Only about 19% of adults in China own a car. They are doing well but they have a long way to go.

I also don't believe that the chinese people as a whole will put up with the way the government operates for much longer. A growing educated middle class are going to look around them at other first world countries, realise they are being sold short and demand proper democracy soon enough.

Yurt2

MadYaker wrote: »

A billion people haven't been pulled out of peasantry and poverty. Their economic revolution has largely been confined to urban areas. Only about 19% of adults in China own a car. They are doing well but they have a long way to go.

They most certainly have dragged that amount of poverty. Compare a large Chinese city to an Indian one. There is an incredible difference between visible poverty (you rarely see absolute poverty in China), infrastructure, goods in shops. People have money to spend in China. Every kid on the subway has a smartphone gos to a decent school and is well dressed. Public healthcare, while not exactly the NHS serves people well. Even in rural areas there's decent schooling and remittances from urban areas mean the standard of life there is not that bad. Compare that to India (which is a rancid corrupt hellhole despite being 'a democracy'), and well.... there is no comparison.

On cars, well China is now the largest car market in the world after overtaking the US a few years back. Don't worry, they're getting there.

MadYaker wrote: »

I also don't believe that the chinese people as a whole will put up with the way the government operates for much longer. A growing educated middle class are going to look around them at other first world countries, realise they are being sold short and demand proper democracy soon enough.

Talk to young Chinese people in China. It's really western arrogance and wishful thinking to be willing a revolution and instability on China. And the Chinese view it as such, Western hubris and jealousy at what they've done in such a short time. They'd most likely tell you to keep your Western views out of their business and that China will do things their own way. They get pissed off about local corruption yes, but they don't want to turn the country on it's head, and they're proud of what the country has achieved. They know Europe and North America are scared of their economic rise.

Not to pull rank but I've spent a good amount of time in China working and studying and speak passable Mandarin. Go there, see for yourself. China is a confident country going places. You can wish a crash on them all you want, but they're too educated and too determined to go backwards. The malaise in Europe compared to China is a huge contrast after spending time there. Things move so much faster, there's economic activity and value creation everywhere you look.

Again, the CCP isn't everyone's cup of tea, but they have a long term strategy and vision for the country that you only wish our politicians could have and have served the people well.

The main worry I'd have about China is pollution, which is off the scale and it's the CCP's largest failure. That's the only thing that will knock the country off course.

Lalealynn

Yurt! wrote: »

There are signs of asset bubble in peripheral cities yes. The Coastal metropolises (and Beijing Chongqing) will be fine. They have enough firepower to stave off any crises.

China as an economic power is here to stay. If you've been there and seen the long term investments in infrastructure and education you'd change your mind.

China at a national level is actually incredibly well governed, the genuinely smartest people are running affairs. If they can root out localized corruption (a not insignificant problem) it will be China's century for sure.

The (largely peaceful) economic rise of China is one of the greatest economic achievements of the last few centuries. A billion odd people pulled out of peasantry and poverty. It's not a popular opinion, but the Chinese Communist Party have actually done a hell of a job.

Thank you for the info.

But I think it's deceptive.
China has highchild malnutrition rates in comparison to the states.
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20120505000021&cid=1503

7% of china's children are underweight because of malnutrition.

The standard of living for most Chinese is still far below most in the US.

Yes it's better much better in many ways. But just look at what is happening in Hongkong right now.

Xeyn

Having just been to china I have to say I was really impressed. We had an absolutely brilliant local guide with us and so much of 'real china' as well as the usual touristy stuff.
There were a few other Europeans with us and we were all really surprised at how 'un communist' the country was. As in all the propaganda caricatures for communism that the west has spat out doesn't exist in china.
And there wasn't this underlying feeling of an oppressed people. I've never seen such a happy population.
They don't seem to care that they can't access google/YouTube/Facebook (they have local versions of them)
The children are the most well behaved children in earth I've come to believe and the parents seem more in love with them than I've seen in any western country.
If it's all a facade, it's an elaborate and quite brilliant one with millions of conspirators.
A real eye opener. I hope they can continue to progress.

Lalealynn

Xeyn wrote: »

I hope they can continue to progress.

As does everyone, but towards democracy also.

Xeyn

Lalealynn wrote: »

As does everyone, but towards democracy also.

Indeed yes. I have a very narrow view having only seen a relatively small part (five cities) in china but I got the impression of -we are doing well, leave well enough alone.
But like Hong Kong (very different from mainland china) if opposition starts it will be in the lecture halls and dormitories. The price you pay for a well educated youth.

Yurt2

Lalealynn wrote: »

Thank you for the info.

But I think it's deceptive.
China has highchild malnutrition rates in comparison to the states.

7% of china's children are underweight because of malnutrition.

The standard of living for most Chinese is still far below most in the US.

Yes it's better much better in many ways. But just look at what is happening in Hongkong right now.

That appears to be a Taiwanese source and I doubt you'll find a positive spin on anything coming out of the mainland on it. Not disputing the figures btw.

No doubt there's poverty in China. What I'm saying it's relative poverty and not absolute, and a far less visible than other developing countries. I spent a bit of time in a rural part of central China with a friend and it's not as bleak as many would make it out to be. The standards the West hold China to are frankly unrealistic. It's a country of a billion and half people (BILLION!) that had been ravaged by famine, war, colonialism the cultural revolution (one of the most bizzare and brutal events in history) and the worst economic experiment the world had ever seen. It's got back on it's feet and has brought poverty to it's lowest level in perhaps it's history, is a genuine global player and all the West can do is give it a kicking in the media and make out like it's still like it was under Mao. It's silly, the CCP has done a remarkable job and the average person is more clued in through social media and the internet than the BBC or whoever lets on. Since I've been there I've learned to ignore 90% of what the Western media says about the country, so much of it is nonsense and is outright Sinophobia. A stable prosperous China is an overwhelmingly good thing for her people and the world in general.

Yurt2

Lalealynn wrote: »

As does everyone, but towards democracy also.

This is an unpopular opinion again, but compare China to India. Similar sized countries, with a history of famine and colonialism. One with a full democratic franchise and one is a single party autocracy.

Our Western goggles and logic tells us that India should be far better governed than China but it's not even nearly true. Indian political corruption and graft is far far worse. Absolute poverty, disease and food security are still unbelievable problems. Hindu nationalism and sectarianism is on the rise and large parts of the country aren't even governed by Dehli (been under a Maoist insurrection for decades). It's an absolute shambles of a country. I actually don't sense that most Chinese have an appetite for democracy as we know it (Tienanmen square students in 1989 weren't pro democracy as much as we wanted them to be). Would it actually improve China? I'm not so sure, the risk of instability is just so large, and the government and the people are determined to avoid instability. Historically it's meant revolution, chaos and starvation. They are the lenses through which the Chinese view political change.

kneemos

There's a lot to be said for a bit of autocratic leadership,it gets things done and maybe it is the most effective way to run such large populations.
Just look at our own little patch and the politicking that goes on for the simplest things.How many times have you wished they'd just go and do what their planning without talking about it for years?

Wompa1

I don't think anyone can really comment on the affairs of China, in fairness. What you'd get from Western media about them can't be trusted and what you see in the country also can't be trusted...they play their cards close to their chest. It seems as though, Australia is starting to fall off a little...don't know if that's an indication of anything

mandrake04

Yurt! wrote: »

That appears to be a Taiwanese source and I doubt you'll find a positive spin on anything coming out of the mainland on it. Not disputing the figures btw.

No doubt there's poverty in China. What I'm saying it's relative poverty and not absolute, and a far less visible than other developing countries. I spent a bit of time in a rural part of central China with a friend and it's not as bleak as many would make it out to be. The standards the West hold China to are frankly unrealistic. It's a country of a billion and half people (BILLION!) that had been ravaged by famine, war, colonialism the cultural revolution (one of the most bizzare and brutal events in history) and the worst economic experiment the world had ever seen. It's got back on it's feet and has brought poverty to it's lowest level in perhaps it's history, is a genuine global player and all the West can do is give it a kicking in the media and make out like it's still like it was under Mao. It's silly, the CCP has done a remarkable job and the average person is more clued in through social media and the internet than the BBC or whoever lets on. Since I've been there I've learned to ignore 90% of what the Western media says about the country, so much of it is nonsense and is outright Sinophobia. A stable prosperous China is an overwhelmingly good thing for her people and the world in general.

I have to agree, I been to Shanghai a couple of times on business and China is not the poor 3rd world country most people think it is. I work in Nuclear Medicine and the business is growing astronomically in China as healthcare is becoming big business. I mean I have worked in their public hospitals and I can hoenstly say the equipment they have would put Ireland to shame.

Price of a import beer is the same as Sydney and I found genuine clothes and electric goods more expensive. Sure you can go to rip of markets and buy a pair of Nikes for $30 but if you go to the Nike store and buy the real ones they are $200.

I think there's more billionaires in China than the rest of world put together, Chinese are buying up investment property and houses in Australia despite not even having a visa to live there.

In saying that one of my Chinese colleagues says there are people in rural China are not able to feed themselves.

MadYaker

Theres a huge difference between rural and urban areas.