a reply to:
Luthierbrown
a reply to:
Luthierbrown
Who are the buyers of the VAST MAJORITY of Asian produced goods?
What are the biggest consumer markets on earth?
the US & and the EU.
The west's age as the sole hegemonic power is over no doubt.
However the regions with the biggest purchasing power and highest median income levels will be Europe and North america + Japan, Korea and
Australia/NZ for at least the next 50 years.
Yes the Net wealth of China is great, but the Chinese economy is on the brink of a major correction.
Have you seen the asset bubble which exists there now?
Have you seen the vast cities built on debt which are uninhabited?
China has so many structural problems and corruption problems. I do not doubt that it will be and nearly is the most powerful nation on earth, however
the average Chinese person or Russian person for that matter will be substantially poorer than the average European or North american for a long time.
Hence these will remain the largest consumer markets & also the dominant forces with regard to scientific research. What I think is a great move is
shifting the European economies to knowledge economies, this is the only way we can retain our high income status by focusing on what we do best,
science.
I think the US has a lot more problems than Europe, I do worry that the US will implode in the near future, however its people will still be richer
than then Chinese.
The thing is, as soon us Europeans crack feasible fusion technology, then hydrocarbon wealth will be obsolete, this will occur within the next 15-30
years.
The future is 100 science, not resource extraction economies, the nations who succeed are the ones which realise this!
China have realized this, but Russia have not, they still plough all resources into resource extraction (the ones which arent embezzled) and neglect
their education system which is a massive mistake, they will rue this in good time.
Education is the key to future economic growth, the nations which have the most ingenious scientists will be the richest and most prosperous. And when
the technology of those nations reaches a certain point it will become near impossible for countries which neglected education to catch up, this is
the reality.
As we can see from this data regarding scientific papers published, the Russians still lag WAY behind the west, Whereas China is second top. A
misjudgment by the Russians