Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Julius Wong who wrote (59667)	1/30/2005 11:29:44 AM
From: RealMuLan	Read Replies (1) of 74559

The author Diamond is too one-track minded in saying "developing-world living standards to reach the Western level"<g>. Living standard is not a stable thing, it changes with the flow of the wealth. The living standard for many in the West will decline in this capitalism-dominated global economy, whether they like it or not. And the living standard for some in developing countries will go up substantially (at the cost of some in the West and a lot of less well-to-do people in their own country). This has already been happening, and the trend seems irreversable. As for global warming, the ones who suffer more are those who live in the West, since they have more to lose to start with. Sea level rising is especially harmful for those coastal cities so it is a good idea not buy a new house by the sea side or at a low sea level.

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