China And the Global Economy

[Tamujiin]

http://news.yahoo.com/fed-clears-chinas-first-us-bank-takeover-012927575.html

 

This is going to be a sign of the times. I doubt during the Cold War this would have happened. I will not be using a bank that is associated with China.

China is the Largest consumer of oil, and the largest exporter in the world. A lot of crazy things are happening, like our naval fleet moving into the area, "to defend" against, "a possible Chinese threat". Yet here we are allowing Chinese banks into our country, just another way china can get the upper hand on the worlds economy in my view. It has to me, many similarities to the causes leading up to the Attack on pearl Harbor.

 

I have a huge opinion on China, that i will not discuss yet, because i do not want to blatantly insult that country itself here, I do believe China has a right to do these things, but i am also afraid of what could become of it, being that China shares certain views that don't fit well together, with the idea's of freedom the U.S.A "supposedly" share. But i am interested in the "mature" point of view of you all.

Edited May 10, 2012 by tamujiin

[csgators]

http://news.yahoo.com/fed-clears-chinas-first-us-bank-takeover-012927575.html

China is the Largest consumer of oil, and the largest exporter in the world.

 

I'm not a huge fan of China either but they do have 20% of the worlds population vs the US's 5%. It would only make sense they consume the most oil.

 

They aren't the largest consumer however, the US uses more than double what China does.

[Marxist ßastard]

Um, Bank of East Asia is headquartered in Hong Kong. It's been a Chinese bank since HK came under Chinese rule in 1997.

 

How is it a "sign of the times" that we've allowed one Chinese bank to buy stock from another Chinese bank?

Edited May 10, 2012 by Marxist ßastard

[Tamujiin]

A sign of the times, by allowing a communist country to own banks in our country, which is good. The things that are going on though, that are quite the contrary to such things, like our navy shifting to that part of the world. To "prepare for a Chinese threat", or the war rhetoric from China because we owe them 2 trillion dollars, they "blab" about attacking us.

 

Cs perhaps you are right. I forget sometimes we are the most over weight land in the world, and such. Give it a few years though, China will out do us :)

 

I have nothing agaisnt China, i just have strong views, as to if we start doing things like this, where is it going to end?

[dazzerfong]

@ tamujin:

 

If you've seen the 'real' China, you'd completely change your mind about China being the 'the most over weight land in the world'. A lot of the country still operates on agriculture.

[Tamujiin]

i was refering to the U.S.A. there dazzerfong. We are getting fat and lazy, as a nation, i suppose our technology does that to us.

[dazzerfong]

No, I was referring to your 'give it a few years though, China will out do us'.

[JimboUK]

Their exports is all China really has so attacking one of their export markets makes no sense at all. They're going to end up owning the west anyway and we've only ourselves to blame, we keep electing politicians who promise to provide extra goodies at no cost to us, the money for these things has to come from somewhere so they've been borrowing. We've also been more than happy to buy cheap goods made in China, we could of boycotted those companies who have outsourced their manufacturing to China but we didn't. It's a crazy cycle, China need to export to keep going but the people who they've been exporting to are now broke so they end up lending to those very people who then can then continue to buy their goods.

[Tamujiin]

totally get you there Jim_uk. Just a repetative cycle. Lend, sell, borrow, buy. I think that idea has been around since money came into existance.

[HeyYou]

Trouble is, it isn't sustainable in the long run, and we are starting to see the backlash from that......