http://www.financialsense.com/fsu/editorials/schiff/2008/1112.html
Johne Browne has a pretty good article there. In it he points out that the stimulus package China is proposing, comparing their GDP to ours would mean we would have to spend $3 trillion to match it.
He has some other things to say that some here have been saying as well, about the U.S. and [...]
1. A country that has GDP consists of 37% export depends -significantly on international market. And don’t forget the downward spiral effect -> less export means lower income for workers which will lead to lower domestic spending as well.
2. China -needs- 8% growth in GDP just to keep up with labor force size growth. A [...]
WASHINGTON (MarketWatch) — The U.S. economic slowdown could cut China’s economic
growth by 1 percentage point, according to Fan Gang, a member of the monetary
policy committee of the People’s Bank of China, Xinhua news agency reported
Sunday. Fan told an economic conference in Boao, Hainan, that the U.S. slowdown
is cutting into trade and investment. The slump in [...]
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