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Really? Seems obvious to me that its the opposite. The US can always find other countries that manufacture things for cheap. China can't find other customers
by JPKab 7y ago
Really? Seems obvious to me that its the opposite.
The US can always find other countries that manufacture things for cheap. China can't find other customers. The domestic demand isn't remotely high enough to propel their mercantilist economy, ironically due to the fact that the currency manipulation of the yuan has suppressed the wealth of Chinese citizens by devaluing their savings.
The idea that Americans are too weak and whiny to tolerate inconveniences can be refuted by every natural disaster here. People band together, and grin and bear it. Just like every other nation.
How a nation where most of the older generation have only 1 child to support them will fare with an economic crash is uncertain, because the one-child policy was an experiment that's never been attempted before. I think it certainly boosted wealth, but I suspect it created a society that is less resilient.
- AstralStorm 7y agoChina already has other customers and a big and growing internal market. Of course, USA is one of the bigger customers but not the only. On the other hand, USA cannot import enough copper, aluminium and iron... (It's mined in China and Chinese controlled territories...) And create and staff factories out of thin air.
- mymythisisthis 7y agoI'm sure those minerals are mined elsewhere.
- AstralStorm 7y agoIn copper, top 3 are: Chile, (one fifth) China, Peru (similar to China). In iron: Australia, Brazil (half of former), China (similar to Brazil). In aluminium: China, Russia (similar to China), Canada (tenth of former). So except for aluminium, this would be very problematic but not insurmountable. I bet Russians won't sell their aluminium to US without many strings attached.
- JPKab 7y agoAustralia and Guinea both have more bauxite than China, it's just that China currently refines more bauxite into aluminium than the former. Iron is incredibly abundant in the USA, and regarding copper, see here: https://www.usgs.gov/faqs/how-much-copper-has-been-found-world?qt-news_science_products=0#qt-news_science_products https://www.usgs.gov/faqs/how-much-copper-has-been-found-wor... "Of the identified copper that has yet to be taken out of the ground, about 65% is found in just five countries on Earth -- Chile, Australia, Peru, Mexico, and the United States. "