With that title, it is obvious I have gone stir crazy from this past snowstorm. Is that statement really that outrageous. Haven't we come to expect China to save the world economy. Wouldn't the US economy collapse if China decided not to buy our t-bills anymore. In reality, aren't they really feeding our drug habit (Printing Money). Other countries have become Chinese drug addicts as well, selling off their industries to the Chinese as fast as the Chinese can unload the bags of cash. Yet, the World wants the Chinese to change. They want the Chinese to move from an industrial superpower to a consumer society. Except in major Chinese cities, there is little, if any, consumer spending. The Western World needs that to change as they will have to pay the Piper shortly and curtail spending. Who will pick up that slack. We need the Chinese to buy our goods. Even the Chinese government realizes that it has to transform itself from a cheap wage manufacturing economy to a consumer/service economy. Rising wages in China has resulted in some industries actually moving their operations to a lower wage country. To accomplish this goal, the Chinese government will have to devote more resources to education and technology. Advances in technology usually results in higher paying jobs in the short term. Higher wages will increase demand for foreign goods. This will open up the Chinese economy. Saved again by the Chinese. Isn't it ironic that an atheist country is the New Messiah.
Signing Off
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