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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: mistermj who wrote (174318)	11/5/2005 7:01:06 PM
From: neolib	Read Replies (2) \| Respond to of 281500

What a great time to expect growth in the future as the largest middle class in the world is built. Yes, but the problem is that our excellent lifestyle is built on their backs for two reasons, 1) cheap goods and services, and 2) loans for us to buy #1. The world should be thanking America for the leadership and the example we have shown to make this happen. It is not a model that India and China (at almost half the worlds pop.) can follow, AFAIK. There is no other large source of cheaper labor and sufficient credit for them to follow our lead. The problem for us, is when the model changes, we may be in a world of hurt, since the universe from our perspective is no longer expanding.

To: mistermj who wrote (174318)	11/6/2005 11:45:26 AM
From: Noel de Leon	Respond to of 281500

" We can't even begin to imagine the goods and services they will need." They can not afford US goods and services. The myth that because Chinese markets are open then the US will be able to sell goods and services to China in quantities that allow a balance of trade or even something close to balance is just that, a myth. In other words Clinton's vaunted treaty with China allowing China special trading status has its costs. In addition the pollution levels across China are forcing the Chinese government to revise there use of coal to fuel there economy. Up to 20% of the "boom" in China is being swallowed by the damages caused by pollution so overall the vaunted Chinese economy has weaknesses that are not being discussed in the West to any extent.