Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (36169)	7/17/2003 9:28:31 AM
From: RealMuLan	Read Replies (2) of 74559

>>the idea that China can't also be rich stems from the idea that things will stay the same. It's possible to be really rich without owning an SUV and having enormous highways all over the place with traffic jams.<< Maurice, I personally agree with you, but a lot of Chinese do not<g>. Just watch numbers of cars being sold in the next 20 years, they will be huge. >>Individually occupied and rented superconductor maglev cars electronically controlled and moving at 200 kph would suit me much more than self-drive SUVs in traffic jams wolfing down tons of fuel a year and spending most of the time parked.<< Another negative side - environmental pollution. Most of cities in China now still allow the use of the gas with lead. It has been only 3 years or so since Beijing has banned leaded gasoline. >>All the Chinese and Indians and everyone else can own the swankiest cyberphones and biotech technology imaginable and it won't touch the environment or deplete resources. << You are obsessed with cell/cyber phones, Maurice. almost every single post of yours contains the word<g> >>Food of supercalifragilisticexpialidocious quality<< What are the examples of this sort of food? >>Wealth is cheap to produce. There's plenty for everyone.<< But you cannot deny there are so many raw materials cannot be regenerated. Once they are gone, they are gone. >>In the meantime, we can all bid for whatever is in short supply. If Chinese have the money, they can have the goods. Heck, the USA even refuses to buy NZ goods such as sheep and steel, so China doesn't have much opposition in the auction. The USA has defaulted.<< Agree. I read that now China has a big appetite for steel. "The USA has defaulted." - you don't mean literally, do you? By the way, I read some Chinese economists already suggest that the Chinese gov. stop buying the US gov. bond because if the Sino-US relationship gets rough, the US gov. can hold it without paying or even confiscate them. And I quite agree, although the possibility is very small. But China should be really careful to take on further debt from the US.

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