Quote (Hamsterbaby @ 7 Jul 2022 06:15)
within the next 20 to 30 years slim chance that they will overtake the USA as a economical superpower.
They've already overtaken us. You just haven't noticed it yet, because you're basing your view of the world economy on the USD and stock markets.
If you view the global economy in terms of production, and how one nation can cut off other nations from it's production to cause them to crash, China IS the world economic superpower. Today.
All that has held China back, really, has been their lack of innovation. Militarily, they're on par. When it comes to production, due to the willingness of the CCP to completely ignore details like "human rights" or "Climate Change" they're several steps beyond. The largest issue in China is that they lack innovation. They rely on western corporations utilizing Chinese land, labor, and resources to come up with new shit. China hasn't come up with "something new" since the CCP took over. Their trick is to take other people's shit, then modify or alter it for their own needs.
If the US went full isolationist today, China would simply step into the void and provide those goods and services the US currently takes care of, though not, I think, in a way that would benefit Europe. On the flipside, if China went full isolationist, there's a very good chance it would crash the global pharmaceutical, power, textile, auto, raw steel, and several other markets.
The problem isn't that Europe and the US cannot produce their own shit. It's that we don't, China does. To rebuild the factories, retrain the workforce, and bring ourselves back in a position of true bargaining power with China is difficult, but not impossible. However, when politicians can just get multimillion dollar payouts from China, when government officials can simply sleep with Chinese spies without so much as a raised eyebrow, and when China can just lower it's prices to a point where no on-shore labor in Europe or the US can possibly compete without cutting trade from them entirely, why bother to go through the effort?
Quote (Hamsterbaby @ 7 Jul 2022 06:15)
It is affecting my business in Hong Kong what Biden is doing.
I could have suffered a little bit during Trump's first term. But his second term I would have reaped more profits.
But Biden have to come in...wtf.
Sorry to hear about your business, brother. Hope the tide turns at some point, but hope you have some backup plans.
This post was edited by InsaneBobb on Jul 7 2022 07:28am