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Some of the reason for the huge CASH MOUNTAIN in the NEW MIDDLE KINGDOM is the result of hard productive work, while lacking the consumption culture of the developed world such as the British Club, European Union and United States.|
The Trade Route states remains very productive even when it has high consumption per capita stakes. This has been achieve solely by severe depreviation kongfu. Latin American states, even some Asian states like Phillipines has been there before, due to inability to mint or have advanced banking, investment market......has seen severe declines in their economies after hitting the US$5,000 per capita mark, or what it was in the 1970's.
endless financial crisis due to balance of trade, and the resultant balance of payment marked their stagnation and even downfall.....
Unlike the Trade Route States which depends on the Amerikan Regime and now even the European Union economic zone allowing continuation of the prosperity, MAINLAND CHINA cannot take the same route because it just have too large a population. Mainland China is luckier than India, in having a much larger nation with so much more resources compare to over crowded India.
Tiger economies such as Malaya, Thailand, Indonesia and Korea has fallen into the same Latino American trouble when trade balance becomes defisit, making payment balance the same......with Indonesia into stagnation, Korea dependent on the Amerikan Ekonomik Zone, while Malaya, Thailand just become more productive to keep ahead of their consumption. (rather fortunate for Malaya because of high resource, good logistics and low population + unique culture, keeping 50% of the population with moderate consumption habits)
New Middle Kingdom
[ Last edited by greendragon at 2008-11-17 01:00 PM ]