Superpower nations:China/India

[Mr Rayon]

Hey, guys I heard that China and India may become superpower nations in the future...

 

My question is, if they do how will this affect the US/European economy as well as our way of life?

Are people anticipating any form of conflict to arise in the future due to the dominance of Asia?

 

Furthermore would there be any increase in respectable science career/employment opportunities in the future for the US/Europeans in China or perhaps in India?

 

Wherever you are do you see the rise of Asia as being a good thing?

[CaptainPanic]

LOL... you're asking for a complete and thorough geopolitical and (socio)economic analysis of the entire world?

 

Anyway, I think it will be brilliant for the world that these economies are growing so strongly.

We've all chosen to have a capitalistic system, which means that competition is an essential part of our economy. Well... China and India are going to become one helluva competition. They produce goods much cheaper, and more efficiently. And I think it's rather sad that Europe/US are complaining about it. They just need to move theirdecadent lazy asses, and reinvent their own economies rather than trying to protect the outdated business models on which they are based. In short: I think that China and India are moving the world into the 21st century, and that they will drag the rest of the world along.

 

p.s. I think we really should add South-America to the list of upcoming economies.

[michel123456]

China is already a superpower.

[Marat]

China is not entirely capitalistic, since its government is still officially communist, and it still exercises considerable control in managing the economy, which retains large state sectors. Recently the communist government announced that it would be introducing measures to ensure greater equalization of the distribution of wealth, which is exactly the opposite of what the typical capitalist country would seek to do (e.g., continue the Bush tax cuts for the richest 1% of the population in the U.S.; cut social programs for the poor to pay for the debt created by capitalist risks going wrong in 2008 in the U.K.).

 

India is also a peculiar country, since its economy is still quite primitive, with the nation intersected by absurd internal tariffs, commerce hobbled at every point by rampant bribery and corruption, and a judicial system that can take a decade to settle a minor contract dispute. Until these cultural and political problems are ironed out, and the infrastructure is improved, India is never going to be the economic power-house it should in theory be.

[Athena]

It is my understanding these superpowers have already changed our lives. The middle class in the US is loosing and may never regain the position of privilege they enjoyed for a relatively short time. This is crazy, we haven't had electricity and oil running our machines for that many years, and we act as through our way of life is eternal. It is not, and power is shifting to the oil countries, India and China.

 

While we are telling our middle class, "whoops, I am sorry, I know we promised you a nice retirement package, but we didn't budget for it, so you don't get it." And about your cushy government job, or private but government contracted job? Revenues are falling, and well you know how it is, we have to make cuts somewhere, so clean out your desk.

 

And like Rome, sorry there are not enough jobs, for those who are added to the job market, because they are coming of age, or have lost a job. Those jobs are being done by slaves, or in modern times, people over seas who cost a lot less. The boom towns built around gold and silver mines are now ghost towns. The oil revenues that made Texas rich are dwindling, so the individual income earners must make up the difference, while the need for their labor is moved over seas. Oregon was supported by the timber industry, and that has fallen, with still nothing to replace it. We just lost another major employer, so I am perhaps extra pestamistic right now. When the best revenue earner a state has is cheap labor, and India and China can offer even cheaper labor, things do not look good for the states, and what do the states have, besides cheap labor? Not gold, silver, or other minerals that were the bases of industrial economy.

 

I think our present student loan program is going to hit banking like the housing crisis. We are covering up the degree of unemployed people, by convincing people to get out of the job market and go to college, and they are living on loans made with no collateral, and they don't have any good job prospects. This is insane! These folks think they must have cell phones, Internet service, TV cable, private housing, private cars, etc.. They are living high on the hog, on loans, supporting our shaky economy, but sooner or later, reality is going to hit, and I don't think it will be pretty.

Edited May 31, 2011 by Athena

[lemur]

I don't understand how so much global business is profiting people in Asia but I never hear about how the west can cater to Asian demand. I also never hear what benefit Asia gets from servicing the west. It's a very strange global economic discourse, imo.

[thinker_jeff]

How do you define "Superpower Nation"? It seems that every post focused on economy only.

See the definition by Wiki: http://en.wikipedia.org/wiki/Superpower

[nec209]

It is my understanding these superpowers have already changed our lives. The middle class in the US is loosing and may never regain the position of privilege they enjoyed for a relatively short time. This is crazy, we haven't had electricity and oil running our machines for that many years, and we act as through our way of life is eternal. It is not, and power is shifting to the oil countries, India and China.

 

While we are telling our middle class, "whoops, I am sorry, I know we promised you a nice retirement package, but we didn't budget for it, so you don't get it." And about your cushy government job, or private but government contracted job? Revenues are falling, and well you know how it is, we have to make cuts somewhere, so clean out your desk.

 

Well part of problem of middle class disappearing in the US and only the have and have nots is lack of jobs in the US and low paying jobs.

 

Not sure about Canada if they are doing better than the US.But the middle class have and has been disappearing in the US to the have and have nots .

 

Not sure what they are going to do about it but it is hard to get jobs and jobs that pay good.

 

They say the US is going into more service sector economy.

Edited June 6, 2011 by nec209

[Athena]

Well part of problem of middle class disappearing in the US and only the have and have nots is lack of jobs in the US and low paying jobs.

 

Not sure about Canada if they are doing better than the US.But the middle class have and has been disappearing in the US to the have and have nots .

 

Not sure what they are going to do about it but it is hard to get jobs and jobs that pay good.

 

They say the US is going into more service sector economy.

 

Before anyone can buy services, they must sell something to have the money to buy services. May be I just think different, but I do not understand the logic of thinking a service economy could be a good one? One thing nations have plenty of is people. When an economy is dependent on human labor, it is not going to be that good, because human labor is cheap and easy to replace. A service economy is human labor economy, and these jobs can be done by machines or sent over seas. Same as many industrial jobs can be done by machines or sent over seas.

 

In the good old days, industry depended on resources like iron and coal, and was built where the resources were plentiful of at least could be easily accessed by railroad. Economies where built around gold and silver mines, iron ore and coal, aluminum and water, etc. . When these resources are exhausted, what is left besides ghost towns and economic ghettos? You can not destroy the industrial economy, and expect a service economy to be as good, because when the mill closes, who has money for services?

 

In away, China and others might be on a self destructive path, because they are building their economy on cheap labor, and this leads to a raise in wages, which sends the industry to the next country where labor is still cheap. The US has sent its industry over seas, and is now screaming about consumers not buying enough. How stupid is this? The US and Chinese economy depends on US consumption, but the people don't have jobs, so they can't buy. Perhaps some day the world will realize the stupidity of this capitalism that leaves behind ghost towns and economic ghettos.

[Marat]

While the private sector just seeks to maximize its own profit and thus neglects externalities (the costs of its profit-making on the surrounding population, social infrastructure, and biological environment), governments are supposed to protect their citizens against these externalities. Unfortunately, with the rise of neoliberalism, governments have adopted the corporate agenda as their own, so the damage corporations do to their infrastructure, environment, and population are simply discounted. Thus you get absurdities like Margaret Thatcher privatizing the British coal mining industry so as to maximize profits for those who became the private owners of it, while the cost to the nation in terms of abandoned mining towns where churches, roads, schools, libraries all became suddenly useless because the industry had moved to Portugal where the labor costs were cheaper was just written off as unimportant.

[rktpro]

China is already a superpower.

 

And India is not.

 

India is suffering from corruption and poverty. The poverty-cycle here is complex. Despite measures, the country is not growing at desirable rates. And as far as goods are concerned, labour in India is not that cheap. It is cheap in China.

But still, both these nations have a strong military.

[Marat]

But I thought that growth rates in India and China were 6% and 8% respectively. I have an option to invest in either or both countries, so I thought both would be the best option. Are you suggesting that India is not a good place to invest?

[mississippichem]

But I thought that growth rates in India and China were 6% and 8% respectively. I have an option to invest in either or both countries, so I thought both would be the best option. Are you suggesting that India is not a good place to invest?

 

It depends on which sector you are talking about. I know, In China for example, if you had invested in a company called Petro China (NYSE: PTR) in late 2008, you would be very happy right now. However, other sectors in the Asian markets have not fared so well. Many people are investing in the Chinese oil stocks now as they are putting massive capital into exploration. So...the risk is moderately high.

[rktpro]

But I thought that growth rates in India and China were 6% and 8% respectively. I have an option to invest in either or both countries, so I thought both would be the best option. Are you suggesting that India is not a good place to invest?

 

If you want to invest, invest in property there. The prices of property are sky-rocketing. And after an year you might have even double. But for it, you have to spend money.

[Dekan]

Wherever you are do you see the rise of Asia as being a good thing?

No, it's a bad thing for the future of civilisation and science. The so-called "Rise of Asia", is only happening because Europe and America are being forced down a path to destruction.

 

If Europe and America had been left to carry on, undisturbed by malign influences, they would have overwhelmed Asia by the superiority of Western culture, civilisation, and above all - science.

 

As it is, who knows what will happen. I think the USA is now a lost cause. Doomed to Third-World status by 2040.

 

I live in England, and hope that we will do better.

[rktpro]

No, it's a bad thing for the future of civilisation and science. The so-called "Rise of Asia", is only happening because Europe and America are being forced down a path to destruction.

 

If Europe and America had been left to carry on, undisturbed by malign influences, they would have overwhelmed Asia by the superiority of Western culture, civilisation, and above all - science.

 

As it is, who knows what will happen. I think the USA is now a lost cause. Doomed to Third-World status by 2040.

 

I live in England, and hope that we will do better.

 

Wrong. The rise of Asian countries is due to the fact that they are trying to overcome economical disadvantages, making defense effective. America and European countries aren't experiencing and down-grading. Americans and Europeans get all their goods made out in China because of cheap labour. Chinese aren't forcing them to get work done by Chinese labour. It is the Americans and Europeans that want to take advantage of the situation.

Saying that western culture is reminds me of Indian History. The Britishers had the same excuse for their colonialism over India. To them their culture was(and is) above all. But that has been proven wrong. Western culture lead to upliftment due to its educational criteria. Letting anyone enjoy science, and forcing anyone to learn a little is a bad thing. Scientists from east have done so well. Sir Raman, Praffula Chandra Ray, Bose etc. were great genius. And talent lay hidden, waiting to be explored.