AP IMPACT: CHINA OVERTAKING US AS GLOBAL TRADER

[dkf]

SEOUL, South Korea (AP) — Shin Cheol-soo no longer sees his future in the United States.

The South Korean businessman supplied components to American automakers for a decade. But this year, he uprooted his family from Detroit and moved home to focus on selling to the new economic superpower: China.

In just five years, China has surpassed the United States as a trading partner for much of the world, including U.S. allies such as South Korea and Australia, according to an Associated Press analysis of trade data. As recently as 2006, the U.S. was the larger trading partner for 127 countries, versus just 70 for China. By last year the two had clearly traded places: 124 countries for China, 76 for the U.S.

In the most abrupt global shift of its kind since World War II, the trend is changing the way people live and do business from Africa to Arizona, as farmers plant more soybeans to sell to China and students sign up to learn Mandarin.

http://bigstory.ap.org/article/ap-impact-china-overtaking-us-global-trader-0

[lalalu]

1. In the meantime there is reality and the real story.

Chinese warehouses stockpiled with good they can't sell and the Chinese economy tanking.
http://www.nytimes.com/2012/09/27/world/asia/chinas-politics-hinder-effort-to-shore-up-economy.html?pagewanted=all

http://www.forbes.com/sites/gordonchang/2012/08/26/omg-chinas-manufacturing-is-crashing/

http://www.zerohedge.com/news/china-has-become-one-big-stuffed-channel

[dkf]

2. If you read the first article you would note that it was largely due to the political changeover...

That has happened.

With the old guard leaving they wanted to leave more policy decisions for the new leaders letting them gain the confidence of the public. So China had been putting on the brakes. Now they can start growing again having contained inflation at a reasonable rate.

The Chinese have been very proactive in preventing large crashes such as the housing bubble we experienced. They will restrict the buying of second homes while we let house flippers run rampant. They will raise the reserve rates while we allow our institutions to leverage up to impossible amounts. Yes we fixed some of these problems but only after the crash. China steps in before it gets that bad and yes that does hurt a bit, but not as bad as us.

It's too bad our democracy doesn't produce better decision making. If we had smart leaders we could have prevented much of the latest mess.

[lalalu]

3. NO, the article clearly states the political takeover has

prevented them from dealing with the economic disaster looming. Go back and read again.

[dkf]

5. It's like a lame duck session...you leave the decision making for the new crew.

It helps their system if the new leaders can come in and execute the changes that produce results.

Their system demands results or risks being over thrown.

[lalalu]

7. The downfall started before because

their entire economic system is based on lies, manipulation, zero regulations, and subhuman treatment of workers. They have made themselves the world capital of debasing workers for corporate profit. They all forgot their system relies on workers having money to buy goods produced which is not happening.

It doesn't matter who they put in charge they are going to fall and it has already started.

[Ikonoklast]

8. You read the tea leaves with absolute clarity.

The coming China Crash will be devaststing to those who cannot, or more like, refuse to see it.

China has an entire economy based on the 'export cheaply made goods by even cheaper labor' model...which always fails.

[lalalu]

9. I am glad someone else can see what is going on.

[GeorgeGist]

4. Just for fun, Google 'Shin Cheol-soo'

[dkf]

6. Not seeing much. What am I looking for?