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Is the U.S still the economic power of the ?

Trajan Octavian Titus

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nkgupta80 said:
China's definately not in the pre-industrial state. They're fullly in the industrial state, desperately trying to make it into the post-industrial state. Russia on the other hand is chock full of resources that are left untapped, its one of the things that would give it an edge. I think that if Russia had undergone a slower change towards open market and democracy like china is kinda doin rite now, it would have succeeded much better.

I know that they're industrialized you misinterpreted my meaning which was that their economy is at the same point as the U.S.'s was before the industrial revolution.
 

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Trajan Octavian Titus said:
I know that they're industrialized you misinterpreted my meaning which was that their economy is at the same point as the U.S.'s was before the industrial revolution.

If they are industrialized, how can their economy be at the same point as the US's before our industrial revolution? That makes no sense.
 

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Trajan Octavian Titus said:
Their living standards and average wages for starters.

Wages weren't all that high during and immediately after our own industrial revolution. Neither were living conditions for that matter. Regardless, a pre-industrialized and an industrialized economy are completely different. You can't compare the two.
 

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Kelzie said:
Wages weren't all that high during and immediately after our own industrial revolution. Neither were living conditions for that matter. Regardless, a pre-industrialized and an industrialized economy are completely different. You can't compare the two.

That's what I meant their economy is like the U.S.'s was directly prior to and at the start of, our industrial revolution, even the growth rates are similar, but they still have about 150 years before they even catch up to where we are now.
 

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Trajan Octavian Titus said:
That's what I meant their economy is like the U.S.'s was directly prior to and at the start of, our industrial revolution, even the growth rates are similar, but they still have about 150 years before they even catch up to where we are now.

Oh sure. That makes sense. Except for the fact that they're already industrialized and their economy is nothing like ours was at the beginning of the industrial revolution. Other than that you're right on.
 

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Kelzie said:
Oh sure. That makes sense. Except for the fact that they're already industrialized and their economy is nothing like ours was at the beginning of the industrial revolution. Other than that you're right on.

The living standard is the same, the average wage is the same, the growth rate is the same etc etc.

And I'm not the first one to make this comparison and it's really not a put down it's actually more of a keep it up kind of a deal:

The second industrial revolution


Shanghai has been the template for many of the developments
The biggest mass migration in the history of the world is under way in China, and it is creating what some are calling the second industrial revolution.


http://news.bbc.co.uk/2/hi/asia-pacific/3701581.stm
 

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Trajan Octavian Titus said:
The living standard is the same, the average wage is the same, the growth rate is the same etc etc.

And I'm not the first one to make this comparison and it's really not a put down it's actually more of a keep it up kind of a deal:

Except that had nothing to do with what you were talking about. And the living standard and wages are the same in China as they were after our industrial revolution. Not before.
 

Trajan Octavian Titus

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Kelzie said:
Except that had nothing to do with what you were talking about. And the living standard and wages are the same in China as they were after our industrial revolution. Not before.

Enh, actually they are similar to what they were to ours during the industrial revolution not after.
 

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Trajan Octavian Titus

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Kelzie

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Trajan Octavian Titus said:
*ahem* now adjust for inflation. And I'm willing to bet that $240 back then would buy more than $1517 today.

Except you can't adjust it for inflation since you claim their economy is at the same level. And that's $1500 in China which buys a hell of a lot more than $1500 here. In conclusion, you lose. Again. Thanks for playing.
 

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Kelzie said:
Except you can't adjust it for inflation since you claim their economy is at the same level. And that's $1500 in China which buys a hell of a lot more than $1500 here. In conclusion, you lose. Again. Thanks for playing.

In conclusion China's living standard is sh!t, and is comparable to ours pre-industrial revolution.
 

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The real 'comer' is India, where you will find a huge middle class (larger than our entire population), a 'rule set' (laws and mechanisms for enforcing and resolving business disputes - something that is still in its infancy in China), and an educational system equal to any in the world. Some social/religous aspects were a bit of a drag, but those seem to be getting worked out.

China's coastal provinces are going like gangbusters, but the inner provinces aren't participating nearly as much, prompting a bit of a troublesome migration to the coast and the few big cities where there is opportunity.

China and India may actually find themselves competing head to head quite soon in terms of econ performance as well as energy supplies.
 

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Trajan Octavian Titus said:
In conclusion China's living standard is sh!t, and is comparable to ours pre-industrial revolution.

Are you incapable of processing new information or do you just not want to?
 

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Kandahar said:
China is indeed growing very quickly and may very well overtake the United States (although not in 25 years). Japan's growth is slow but steady. Middle Eastern countries are riding a wave of high oil prices, and will crash and burn when the oil dries up or falls in price.

China will never overtake the US for one reason i just thought of. Not just in 25 yrs., but the next 60 yrs. They are going to be facing the same problem that we face today in about 20 yrs. Their population will become very much full of older ppl. They, as you probable know, have made it illegal for parents to have more than one child. This means that a majority population of older ppl will be supported by a minority population of younger ppl. They will be in the same bind as us and our social security and medicare (which it will be worse for them because they have no programs to help). To further my point they will have a larger number of men than women. SO, they will face a period of high population that will be followed by a period of low population. They will end up having large cities that have half the population of today in 40 yrs.

COBRA said:
Hi,:2wave: my first post here @ DB. I have been reading alot about how China & japan along with other middle eastern countries are growing @ an insane rate economically ? Do we Americans still have what it takes to compete with those countries ?
kap.gif
or can we expect in 25 years for China to rise to the #1 spot ?

China- not gonna happen like i said above
Japan- they are like what many call the real estate market. A bubble. Their economy has been rising, but where is it going to go now?
 
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