Washout22 t1_jaafivm wrote on February 28, 2023 at 12:38 AM

Reply to comment by Malevin87 in The bearish arguments of 1907. Swap earthquake with covid and many of these points could be recycled today by CreepingFog

China is not as strong as many think.

Their demographics are terrible, and they have a huge debt and currency problem while the usd is getting stronger.

Bad for all other currencies.

Malevin87 t1_jaam9x6 wrote on February 28, 2023 at 1:27 AM

Its just that America is not as strong as many Americans think they are. In fact in Asia, many would rather welcome Chinese than Americans as Americans no longer have the wealth. They also rather choose Chinese companies to build infrastructure for them. Not because its cheap, but its quality as well. America have nothing to show for except military. This is why their common folks are suffering.

RedditsFullofShit t1_jaangzf wrote on February 28, 2023 at 1:36 AM

Common folks have always suffered everywhere.

It’s not like 50 years ago there wasn’t poverty in the US. The poverty has always been there. And in capitalism there will always be those who suffer.

The US is so advanced in warfare that economics don’t really matter. If it really came down to it the US would go to war and win.

Washout22 t1_jaao9ro wrote on February 28, 2023 at 1:42 AM

North America has plenty of food and other natural resources. Lots of navigable rivers, and better demographics.

We have more purchasing power per capita.

China is in for a world of hurt as the USA and West decouples.

Globalization helped China immensely. They're now trying to pivot to a service based economy with half the population in poverty.

I have no issue with China, but they're not in a good spot