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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (59501)	1/26/2005 2:02:13 PM
From: RealMuLan	Read Replies (2) \| Respond to of 74559

>>China is developing by exporting its way out of poverty.<< Will not do it as much as China tried! Haven't you paid attention that the poor Chinese living below the Chinese poverty level (something like with an annual income of <$80) has increased after China joining WTO by close to a million? Although the things may get better from 2004, when the gov. start to subsidize the farmers. If Wen-Hu had not changed some of the national strategy for economic development from late 2003, instead of being rich, China would have some revolution. From 2005, China will have a total trade deficit, what being rich by exporting? China now is buying expensive (raw materials) and selling cheap. It cannot go on much longer! And many sweatshops in Guangdong/Fujian get a net profit of 0.5% (half penny on a dollar!). You call that rich, elmat? Europeans and the US got rich because of the colonization and WWI and WWII, and now they will keep getting rich by re-enforcing their IP right. Brazil will (maybe) get rich by selling raw materials and agri. product to China. Whether India will get rich remain to be seen. I highly doubt it. Please do not mix up bet. a small handful elite getting rich and the majority of ordinary people getting rich.