[Trebbinsa]

The economy as we know is going down and many european countries are already nearing the bottom, and America is expected to follow soon.

At the opposite end asian countries like China and India are emerging, and with their culture that promotes education and hard work i expect they will keep going strong for a long time.

So how will this switch in power affect relations in the western multicultural society? Will people become more hostile towards asians as a result or will there be a positive attitude as more collaborations between the west and the east are likely to begin?

[joOEMcheapSOFTWARE]

North and Central Europe are doing well economically, in fact the problem that exists is southern Europe that is bankrupt.

[Snocioncilm]

There is no reason for being scared of China. Here's the proof:



These machines are able to do things cheaper, faster and better than the average chinese worker. Maybe, in 10-20 years we will have one of this in every neighborhood.

By the way, Chineses are hard-working but they are only capable of copying. Nothing to do with the great innovation of Japaneses. Nothing to do.

[iOqedeyH]

China and India are two separate cases. The difference is that India is much more democratic. So I'd rate that in the long run, India has better prospects than China. Democracy has many flaws but it makes Western societies have flexibility in overcoming crises. Europe and the U.S. have already defeated many crises. China has had a long period of prosperity, but no one knows how Chinese system will react to the crisis. And in the end China will be in a crisis, which can not be solved with tanks. Then we'll see how worth is the Chinese system.

[mikaelluioy]

Chinese economy dropped last month and it is negative for the west.

[VFOVkZBj]

Chinese economy dropped last month and it is negative for the west.

Yeah it dropped but the Chinese growth was still at the top, and i appreciate the replies but the question wasn't really about if or how the east would grow, it was mainly about how the west will react to the switch in power.

we can argue all day if it will happen or not, but statistics indicate that this will happen eventually..

So what im more interested in discussing, is how the general population will react to this, cause im already seeing plenty of complains that eastern companies are buying western companies and taking jobs from americans etc.

[vipbunter]

Chinese economy dropped last month and it is negative for the west.

the growth dropped somewhat to "only" 7.5%M or so, numbers we can only dream of.

---------- Post added 2012-07-14 at 20:50 ----------

The economy as we know is going down and many european countries are already nearing the bottom, and America is expected to follow soon.

what do you mean by "nearing the bottom" ?



So how will this switch in power affect relations in the western multicultural society? Will people become more hostile towards asians as a result or will there be a positive attitude as more collaborations between the west and the east are likely to begin? "Switch of power" is only a speculation, it has not happened yet, China is still a "copying" economy which is unable to innovate, it can copy and produce, nothing more than that.

[AlexanderDrew]

Yeah it dropped but the Chinese growth was still at the top, and i appreciate the replies but the question wasn't really about if or how the east would grow, it was mainly about how the west will react to the switch in power.

we can argue all day if it will happen or not, but statistics indicate that this will happen eventually..

So what im more interested in discussing, is how the general population will react to this, cause im already seeing plenty of complains that eastern companies are buying western companies and taking jobs from americans etc.

Maybe my post wasnt not explicit enough, redaction is not my strong point.

What i meant is last when the Chinese economy felt the west was affected, good for Asia, good for the west.

[enasseneiff]

Oh good, I think I spot an economic fallacy! You seem to be saying (although I may be wrong):

"If people in China are richer, we will be poorer."

Nope! If people in China are wealthier, then that will mean we are wealthier. Economics is not a zero sum game. If people in China have more money, then that means they can afford to buy more things from us.

Let's imagine there are 5 people living on a desert island.
One day, one of them discovers something very valuable to those 5 people (a huge amount of coconuts or something.) He decides to stash them away.

Relatively speaking, because this person is richer, the others are poorer. They only a have as many coconuts as they can collect in a day, which will be a lot of hard work, what with all the tree climbing.
While they are busy climbing trees, he is sitting on the beach supping rum and relaxing. A foot rub would be nice, he figures. So he gets one of the other islanders to rub his feet, and in return offers a one week supply of coconuts. Now they are both richer. Now they are both better off. Rubbing feet is much less work than tree climbing too.
The other 3 all find some other service to help the rich man, and in turn are rewarded with coconuts. Everyone is now much better off, even though relatively speaking, one is richer than the others.

By the way this also shows how manufacturing jobs are replaced by service jobs, which proves the fallacy of Chinese workers stealing all our jobs to be wrong also.

---------- Post added 2012-07-15 at 21:50 ----------

By the way, two bullies who don't like each other fighting it out is much better than one bully beating up all the little kids.

---------- Post added 2012-07-15 at 21:51 ----------

By the way, by the way!

[brurdefdoro]

Johny and imagine China rises to the level of Northern Europe/US etc, (unlikely but imagine), what do you think is going to happen to the oil and other commodity prices should every Chinese own a car and have a high level of consumption ?

[Illirmpipse]

Johny and imagine China rises to the level of Northern Europe/US etc, (unlikely but imagine), what do you think is going to happen to the oil and other commodity prices should every Chinese own a car and have a high level of consumption ?

Most likely rise. At some point the market will want to find and use new sources of energy, such as solar or nuclear power. The more this happens, the more will be invested. The more is invested, the cheaper it will be, until we stop using oil and start using solar power on a wide scale, potentially at a much cheaper price than oil is now.

Oil is terribly inefficient really. But they have governments in their pocket.

Of course it is possible that China will spend a lot of money on finding and extracting more oil in which case it may remain fairly stable.

[Snocioncilm]

Oh good, I think I spot an economic fallacy! You seem to be saying (although I may be wrong):

"If people in China are richer, we will be poorer."

Nope! If people in China are wealthier, then that will mean we are wealthier. Economics is not a zero sum game. If people in China have more money, then that means they can afford to buy more things from us.

Yeah that is not what i was saying, The western economy is going down while the economy of asian countries like China and India are growing, i know these events are independent from each other.

And while the asian growth can have many positive consequences for the west, there are also some negative ones that the citizens are already complaining about, like taking jobs since they offer cheaper labor, and that the native companies are bought and owned by foreigners.

China getting richer might boost American economy but i dont think most people will be happy that they will have to be more dependent on foreign countries. To give a comparison, most of the large and successful brands in Sweden today are owned by foreign companies because the native country does not have the resources to market and produce them internationally. This has both positive and negative effects but results in large changes in how these companies are run.

However what i really wanted to discuss was when/if this happens will the population in the west have a negative reaction towards asians, will the higher competition lead to conflict? or not?