When it comes to Numbers....the 21st century will be "dominated" by any developing nation playing catch-up to already developed nations. That means Asian and African places that are consuming/buying food, resources, energy, technology...as necessary commodities. Those are the billions of people who will dominate trade and growth for everyone else.Originally Posted by Veldan Rath
It's a tricky dance when it comes to China. Their cheap labor and imported "stuff" has made it easier for the US to maintain our standard of living without raising wages. That means even poor people can afford a cell phone, microwave, big TV, and plenty of shoes. It's the Walmart Effect.
*It's also tricky for Romney to dance this tune. On the one hand, he wants to clamp down on China as a currency manipulator (even though the US does the same), and accuse the Obama Administration of not upholding trade agreements (even though they have).
On the other hand, he's been capitalizing on "emerging markets" that include China, and can thank much of his success to financial engineering. Either in hedge funds, corporate buy-outs, private equity leveraged loans, carry-trades or preferred tax status, plenty of his profits run through China. Reminiscent of the Silk Trail.
Romney wants to play both sides, but hopes the American voter won't notice. He just promises "more good jobs and better wages for the middle class"! The crowds cheer and wave tiny flags. Tax Cuts and less gov't spending (except when it comes to military spending), the standard GOP mantra, without specific numbers. He's making a pretty big "bet" based on loose facts and visceral voting.*
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