| In a not so shocking revelation, China has passed Japan as the 2nd Largest Economy in the world: http://finance.yahoo.com/news/China-Passes-Japan-as-nytimes-2766831302.html?x=0&.v=1 The recognition came early Monday, when Tokyo said that Japan’s economy was valued at about $1.28 trillion in the second quarter, slightly below China’s $1.33 trillion. Currently the U.S is still the world's largest economy at around $14 trillion GDP. However, now that China is #2 is seems the world's fastest growing economy is quickly turning into the world's second great super power behind the U.S. |
| I always thought China was #2... |
| China has potential to be #1 in the long run. |
| China's fast progress has have serious implications on their country's environment but they are slowly getting the message. |
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zharnotczar said: I always thought China was #2... I thought so too. |
| AMERICANS HAVE TO DEAL WIth THE OIL SPILL IT IS NOT FAIR OTHERWISE AMERICA WOULD'VE BEEN #1 UNTIL 2050 AT LEAST!!! |
apple said: AMERICANS HAVE TO DEAL WIth THE OIL SPILL IT IS NOT FAIR OTHERWISE AMERICA WOULD'VE BEEN #1 UNTIL 2050 AT LEAST!!! I don't mean to be biased when I say this, but; nobody can accurately predict what will happen 40 years from now, we could very easily have WWIII, all types of other nonsense. Right now the U.S is in one of it's lowest points EVER, and China is in one of it's highest points ever, don't you think that this could be turned around, after all, the U.S has always been a resilient country. |
| if eric cartman reads this. he'll prolly freak out xD |
mrjag said: Go to hell capitalism!!! Er, what? Market liberalization is why China is prospering. : / Also, this news is getting more attention than it deserves. It's more of a psychological barrier than a really influential, world changing one. |
Achiuakuna said: WW3 huh? Good luck to them when they try to find soldiers to fight for them, when they don't even provide people heating during winters. It's really ironic that the news is all about how China is becoming all mighty and powerful, but when you pay it a visit and see how average people actually live their lives, you don't see any of the supposed prosperity. I AM IN CHINA. PEOPLE ARE POOR AS SHIT. K THANKS :( |
| I have a sneaking suspicion that China is currently in a bubble. Bubbles essentially stay moving so long as people keep faith in them, so they do have a slight advantage in that they have a command economy and state-controlled money, but the bubble WILL eventually pop--it's just a matter of time. The real-estate market in China is probably going to crash, IMO. Not to say that China will disappear when that happens, but they'll take a hit big enough to possibly knock them back down to 3rd place. The difference between China and Japan is that Japan's economy, while stagnating, at least seems fairly stable. They have debt problems and are struggling with deflation, but I don't see that their manufacturing and export-based-industries are going anywhere, and they have a significant domestic consumer base as well--something that China lacks (at least in regards to expensive goods). China has wild growth, but also the possibility of wild contraction from recession or depression. |
| "When he will, the weary world Of the senses closely curled Like a serpent round his heart Shakes herself and stands apart." - A.C., Equinox I/I |
Hoppy said: ...has have serious implications on their country's environment.. x.x |
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Lightyear8684 said: I know it's almost a trivial difference, but I don't think it's "China", per se, that is responsible for the cheap products, but rather the Chinese manufacturers who have not implemented sufficient quality control yet, although they are getting there. Fifty years ago, Japan was in much the same situation China is in today -- their manufactured goods were largely considered cheap crap. Only a change at the top emphasizing total quality control allowed the Japanese companies to begin to compete on even terms with firms in Germany, France, and Switzerland, who held domain over precision machinery at the time.but I always hated and will hate chinese products they always make crap which is worth nothing, that's why its cheap, japan always made reliable products But China is also different in the sense that many of the companies in China are not actually Chinese. Half a century ago, where something was made was very important because it was indicative of the companies that made it. German companies made things in Germany and only Germany. Japanese companies made things in Japan and only Japan. Not so today. All you have to do is look at Guangdong with its variety of Japanese plants like Toyota, Honda, and Nikon, and you'll realize that a lot of what's being manufactured is held to strict foreign quality control. I'm guessing that many native Chinese companies will eventually get to the point where they make products that roughly approach Japanese quality, although it might take a while before this is ingrained into the corporate culture. My own personal sense is that China is about where South Korea was around the late 80s, back when Hyundai was considered just one step above a Yugo. I'm no apologist for the Chinese, but their trajectory in this regard is not dissimilar to cases we have seen in the recent past. rTz said: I very much agree with this. China is in a race right now to develop a domestic economy of scale before countries like Bangladesh, Vietnam, and Pakistan are able to outcompete them for the role of providing the outsourcing sector of richer economies. Salaries have already grown to such an extent that their competitiveness in this area is starting to show some weakness.and they [Japan] have a significant domestic consumer base as well--something that China lacks (at least in regards to expensive goods). China has wild growth, but also the possibility of wild contraction from recession or depression. |
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Hoppy said: Except the US (and pretty much anywhere else) was like this when they were in their industrial and post-industrial period.China's fast progress has have serious implications on their country's environment but they are slowly getting the message. Anyways, I read somewhere that China's economy is already "cooling" say, in the auto and even the oil industry. |
| Eventually predictable, yet it caught me by surprise. China has enormous growth potential while Japan is stretched to it's limits. |
| I'd like to see Central Asia get a little less poor. And that the other former "Communist" Russia, is not doing so well, also saddens me. Also, I really don't believe that Communism/Equality makes for bad economy. But the political corruption of those so called Communist countries did. I've heard nothing great about the status of the Chinese proletariat in recent year. |
 Old avatar and sig retired for now. |
| The Chinese proletariat are suffering in poverty :< |
alexcampos said: In a not so shocking revelation, China has passed Japan as the 2nd Largest Economy in the world. 1) What took them so long? LOL 2) Japan is more screwed than evar. apple said: I AM IN CHINA. PEOPLE ARE POOR AS SHIT. K THANKS :( So, the people should start deposing the government. Go promote Tienamen Square or something - and lead some protests. >:D ukonkivi said: Also, I really don't believe that Communism/Equality makes for bad economy. Let me know when someone actually implements a true Communist system... |
KyuuALAug 17, 2010 8:36 PM
| Click on this. I dare you. | MAL Fantasy Football League | Currently Watching List RWBY Club. RWBY is anime. Deal with it. |
KyuuAL said: Let me know when someone actually implements a true Communist system... And the multitude of them that believed were of one heart and of one soul: neither said any of them that ought of the things which he possessed was his own; but they had all things common. - Acts 4:32, KJV And all that believed were together, and had all things common; And sold their possessions and goods, and parted them to all men, as every man had need. - Acts 2:44-45, KJV Neither was there any among them that lacked: for as many as were possessors of lands or houses sold them, and brought the prices of the things that were sold, And laid them down at the apostles' feet: and distribution was made unto every man according as he had need. - Acts 4:34-35, KJV |
| "When he will, the weary world Of the senses closely curled Like a serpent round his heart Shakes herself and stands apart." - A.C., Equinox I/I |
| Hey... I spoke in present tense, not past tense. XD Oh and thanks. Your knowledge of Scriptural text is superior to mine. I tip my hat. :D |
| Click on this. I dare you. | MAL Fantasy Football League | Currently Watching List RWBY Club. RWBY is anime. Deal with it. |
| It won't be the first time America has won a Cold War >_>. |
Defiance said: It won't be the first time America has won a Cold War >_>. America isn't as stupid as Russia. We won't endlessly spend money on the military while caught in hopeless wars against Islamic fundamentalists in Afghanistan. Oh wait. |
| "When he will, the weary world Of the senses closely curled Like a serpent round his heart Shakes herself and stands apart." - A.C., Equinox I/I |
KyuuAL said: Let me know when someone actually implements a true Communist system... It's one of those things like Anarchism, if the ultimate goal is truly possible, I don't think it's something that can be achieved quickly. Real revolution takes a long time, and the whole process has to be done with tender care. Something that definitely didn't happen in Russia and China. Or maybe I'm using the term "revolution" wrong, but when I think of a proper Left Revolution, it wouldn't be some typical violent one like you hear about in France, but a really slow and well done cultural change. Communism sort of has to be treated like Democracy, something that has to be constantly worked towards to make it at close to Democracy as possible. The United States could have more democracy than it currently does right now. I'm with the Libertarians in that, no matter is possible, I think it's best to widdle down the state as much as possible. And with the Leftists in thinking we out to widdle down the "bourgeois". It's all just the same really, concentrated organized power held from the masses. And you don't have democracy in a system like that. Not true democracy. Loads of people don't have jobs even at all in a recession like this in my country, and the system won't hire them because this little fake system of Capital doesn't want to hire them because a person is only so good as they are profitable in the corrupt system. Loads and loads of people could be producers and truly hold their weight in society. But people don't equip people towards something that would actually make everyone as working toward the future and the betterment of society and themselves because they're all too caught up in the spiderweb of Capitalism. apple said: The Chinese proletariat are suffering in poverty :< Pretty much. When people are always judging economies, it's not how everyone's doing. It's all judged by the profits of the bourgeois. People in Capitalist countries are all like "hooray, China is moving away from communism and it's citizens with be happier with all the money they have from it's economy". Yeah, right. It's just proletarianization and building up the bourgeois. Lots of people are in awful working conditions, that's one thing the West hears about that they get right, and then of course there's loads of people out there like "Brother Sharp", who nobody has fixed the lives of because they don't look like a celebrity... |
Old avatar and sig retired for now. |
| Then you compare the population sizes of China and Japan to give those raw numbers some context. |
| Why am I not surprised? |
rTz said: Defiance said: It won't be the first time America has won a Cold War >_>. America isn't as stupid as Russia. We won't endlessly spend money on the military while caught in hopeless wars against Islamic fundamentalists in Afghanistan. Oh wait. You take war lightly. For the US it is a lucrative business. Stupid Soviets didn't have money to afford war, but in American case they have a way: printing dollar (it's one of the strength of dollar - it can stand inflation pressures, which was impossible for the Soviet currency). And don't forget American share in world's arms industry is 41.5 %. Yet it's unfortunate that you lowlife lower classes don't have share in this business :) |
| I tought China was #1 already. I'm so biased in terms of international economy... |
 Waratte Oemashou Sore ha Chiisana Inori |
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| made in China Never expect good stuff from this Logo @KyuuAL (post below) true, can't really blame anyone but our self ^^ |
MorningGloryAug 18, 2010 10:51 AM
| Anyways, if China manages to take over the world... we'd have ourselves to blame. XD |
| Click on this. I dare you. | MAL Fantasy Football League | Currently Watching List RWBY Club. RWBY is anime. Deal with it. |
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