Interesting news clip on how much control China has on our economy

[nullzero]

http://www.cnn.com/video/player/player....ss/2007/05/05/vause.china.mortgage.cnn

 

[BoomerD]

Which is exactly why I believe the US will NEVER do anything about the piracy going on in China...we don't want to piss off our owners...(Kind of like the Chinese "Disneyland" as discussed in this morning's OT threads.
http://forums.anandtech.com/messageview...atid=38&threadid=2043536&enterthread=y

 

[nullzero]

Yeap China owns us.... the corrupt system setup in the U.S. with the Federal Reserve, IRS, Corporate control through special interests.

 

[pradeep1]

Interesting, but this has been happening for a while. We got in bed with the Chinese in what, the 80's? My biggest fear is what will happen if their banking and financial systems crash. It still amazes me that a country as heavily centrally controlled and as heavily corrupt as China can sustain this heady economic growth.

 

[Termagant]

Originally posted by: pradeep1
Interesting, but this has been happening for a while. We got in bed with the Chinese in what, the 80's? My biggest fear is what will happen if their banking and financial systems crash. It still amazes me that a country as heavily centrally controlled and as heavily corrupt as China can sustain this heady economic growth.

When four times the number of people in the US are suddenly thrust into a market based international economy, where they can buy foreign goods for the first time, and produce goods cheaper than anyone else in the world, the amount of growth is going to be stupendous.

 

[jrenz]

Originally posted by: Termagant

Originally posted by: pradeep1
Interesting, but this has been happening for a while. We got in bed with the Chinese in what, the 80's? My biggest fear is what will happen if their banking and financial systems crash. It still amazes me that a country as heavily centrally controlled and as heavily corrupt as China can sustain this heady economic growth.

When four times the number of people in the US are suddenly thrust into a market based international economy, where they can buy foreign goods for the first time, and produce goods cheaper than anyone else in the world, the amount of growth is going to be stupendous.

That and the massive devaluation of their currency, and all around bad trade deals that have been put in place years ago.

 

[MicroChrome]

Originally posted by: pradeep1
Interesting, but this has been happening for a while. We got in bed with the Chinese in what, the 80's? My biggest fear is what will happen if their banking and financial systems crash. It still amazes me that a country as heavily centrally controlled and as heavily corrupt as China can sustain this heady economic growth.

I don't buy it....

I think the USA is just as if not more corrupt then China. Yes this has been going on for quit some time now... I for one am happy to see China rise up and take the dollars away from America, they are investing funds into their educational budget... This will flip the tables with America. Tech and Engineering will slide in China's Favor making the US look like a third world country. We are screwing ourselves essentually. Tho, I'm all for less religion BS and more for inovation and leadership. China will lead the wold to the robotic stage and hopfully into space... The world needs this type of aggressive stand towards tech, engineering and research. I hate to say it but the USA is at a stand still and it's not a pretty picture.

The sad part is once the tables do start to turn it will happen quickly... Turning them back will not be easy. If not impossible since I fear in the next 10 or so years the USA will be out of options and funds...