Comments by "" (@craigkdillon) on "China Observer"
channel.
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Technically, China is experiencing "collapse", not decline.
"Decline" implies part of a cyclical economici cycle, like a recession or even worse depression.
Both "recession" and "depression" suggest that they will end as an economic cycle works its way through, and comes to an end.
All recessions and depressions are followed by booms and expansion.
China is NOT experiencing that, IMO.
China is going through profound structural change.
Whole industries are being affected, with some disappearing.
Today's China is a shadow of what it was just a few years ago.
In 10 years, China will be unrecognizable from the booming China we knew for 30 years.
40 years ago, poverty was universal in China. It was everywhere. Poverty was normal, and the Chinee people accepted it. It was part of life. It was their life.
B U T --- the Chinese of today don't remember that poverty. All they knew was boom and prosperity. Abject poverty will hit them hard.
They will be angry.
I wonder who they will blame??
Hmm, anyone have an idea/??
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@offiz Every now and then, some American banks go bust, that is true.
In fact, in 2008-09, more than a few went under.
BUT -- not one person lost their savings, or even a portion of their savings. Can the same be said of Chinese bank failures??
The American system is flexible, and can take big hits. It bends, but does not break.
That is its biggest virtue, IMO.
Some who hate the US, are now predicting disaster, just because there are some issues. There will always be issues.
Debt, or inflation, or deflation, or recession, etc. etc.
But, if you look at history, the American economy and system just sailed on through.
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@youxkio I presume they would try their hardest, and would get a percentage, but much less than the 100% they get in peace time.
Oil would be a bad problem. However, if a pipeline can be built from Iran, that might solve that problem.
Biggest problem would be food.
Fishing would be almost totally stopped.
Other imported food would be stopped as well. China is now a net importer of food, so that would be its greatest problem, I think.
If is a big rice producer. Is that enough??
War is horrible, and seems to never work out as leaders think at the start.
Civil War, WW1, and WW2 were supposed to be short wars, as thought by the ones who started them. The wars were long, and they lost.
Wars do tend to favor the ones with greater resources. So, US would likely win.
But, that doesn't always work out -- look at our Revolutionary War. The weaker side won that one.
War?? Best to avoid one.
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