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To: RealMuLan who wrote (14418)	10/31/2004 8:26:38 PM
From: RealMuLan	Respond to of 116555

Only about 10% cars bought on loans in China now, while 60%-80% cars are bought on loans in Europe, not sure what is the percent in the US

To: RealMuLan who wrote (14418)	10/31/2004 8:31:39 PM
From: philv	Read Replies (1) \| Respond to of 116555

Industrialization surely causes loss of jobs whether it be in USA or China. However, I wonder if all the spin off industries and jobs, from small producers to transportation, storage, etc. are considered. Obviously, if one loses manufacturing jobs and infrastructure, regardless how many jobs are involved in that particular endeavor, it is the other's gain and thus can't be discounted. But of course, according to Greenspan, we don't really have to make anything, because we can conceptualize better than anyone else! gg

To: RealMuLan who wrote (14418)	10/31/2004 10:46:06 PM
From: GraceZ	Read Replies (1) \| Respond to of 116555

It is incorrect to say rising productivity creates jobs. What is correct to say is that it creates higher income, on average. If the average worker in country X has five times the average income of workers in country Y, it is safe to say that given the capital, education, raw materials, intellectual property, infrastructure available to workers in country A they are, on average, five times as productive as workers in country B. Rising incomes and increasing wealth are the natural outcomes of rising productivity. This is a basic economic truth and the reason behind why one country is poor while another is wealthy, differences in productivity.