The American Dream Is Alive in China
nytimes.com
The American Dream Is Alive in China
1–10 of 37 posts
Re: The American Dream Is Alive in China
#2I love the irony of this headline so much I want to make a poster of it and put it in my office.
I think my favorite critic of The American Dream™ is our old friend George Carlin: "The reason they call it the American Dream is because you have to be asleep to believe it."
Re: The American Dream Is Alive in China
#3Most people judge based on their life-time experience. Being the average person is about 40, they typically judge based on the last 4 decades. China's history is full of violent revolutions. A big economic slump could snowball into political and social catastrophe. The gov't could grow complacent and/or out-of-touch and try to solve social unrest with ham-hands, making it worse. As the investment disclaimer says, "Past (near-term) results are not a guarantee of future results."
Re: The American Dream Is Alive in China
#4It would be great to compare the growth China kicked off in the 80s with the growth the USA kicked off after WWII. See if its the same trend, feel weird comparing growth of a country with another that had a 40 year head start.
Re: The American Dream Is Alive in China
#5I have been telling people this for over 15 years. Catches include: we economic migrants have reduced access to the market, less progressive regulatory stance, shifting and complicated bureaucratic visa/banking/tax processes to deal with, and even difficulties getting capital out again. One summary is: it's relatively easy to make big money in China, but hard to make a liveable salary - this affects Chinese people more than migrants. Macro economically, lots of cash was recently won on real estate (like in many developed economies recently, such as my native Sydney), and prior to that outright corruption, though both avenues are now closing and priority is being placed upon technology IP by the government (read: free government handouts for local competitors, foreign companies generally excluded).
Re: The American Dream Is Alive in China
#6Give China another 20 years and they will surely have overtaken the USA in world leadership.
Consider their new Silk Road initiative. 3rd world/developing countries and America's numerous enemies alike are lining up to ally themselves with China.
Meanwhile the USA shits on its closest allies.
Re: The American Dream Is Alive in China
#7These flurry of NYTimes favorable articles on China, the last few days, is....fascinating. It's almost like those with vested interests knew a huge crash is about to come to China in 2019, and is trying to unload some investments.
However, the ever connected world is not blind, and can see the dramatic fall China has suffered in the last 2 years in terms of stock market, yuan weakness, capital outflow, human rights, massive debts, international relations, factories leaving, fake GDPs, and much more. $250B in tariff on Chinese imports in January 2019, followed up with potentially rest of the $600B in tariff on Chinese imports in 2019, will crash China.
Re: The American Dream Is Alive in China
#8Give China another 20 years and they will surely have overtaken the USA in world leadership. Consider their new Silk Road initiative. 3rd world/developing countries and America's numerous enemies alike are lining up to ally themselves with China. Meanwhile the USA shits on its closest allies.
People have been saying this for 40ish years, if not more, and it's never been close to happening and still isn't. China's relationships with developing nations tend to be predatory/parasitic, not an alliance.
Re: The American Dream Is Alive in China
#9No it's not, the world speaks English, not Chinese
Doesn't mean the destination is America though.
Ps. Why would big Chinese companies translate their open source in English and have research hubs outside of China
Re: The American Dream Is Alive in China
#10It's a mistake to say we're rich because our GDP or even GDP per capita is high. What matters is PPP - purchasing power parity with a basket of goods weighted towards the essentials of life: housing, transportation, food, water, child care and medical insurance. By that measure, I don't think the US is as rich as we think we are. but i would like to see things measured and quoted in that regard, it would be more relevant and accurate for comparing wealth.
Such an analysis would also be useful for comparing the rich and poor within a country. here in the US: someone earning 100k in the midwest is much wealthier than someone earning 150k in palo alto. Of course, if your basket of goods comparison is how many apple cell phones they can buy, it's not gonna be an accurate comparison