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It is also experiencing sick growth. So huge that it has to slow down otherwise it's not maintainable. The middle class alone in China is bigger than the enti
by martinced 14y ago
It is also experiencing sick growth. So huge that it has to slow down otherwise it's not maintainable.
The middle class alone in China is bigger than the entire eurozone!
And it is not a "lot poorer", china's GDP is only half that of Europe and they have much more room for growth than us.
It's just a matter of time before they pass both Europe and the US.
The "western" world is really in trouble. For example France is expected to lose its status of "World's fifth power" to Bresil before 2017. It is even possible that if Hollande is re-elected in France by the end of its second mandate France would be out of the G8!!!
Many countries are resting on their laurels and "cheating" the economy with endless money printing. Meanwhile other countries are purposely under-valuating their money and closing the gap quickly.
The world is changing and its changing quickly.