The Soapbox

copenhoogan

Joined: 04/06/2016 Posts: 141
Likes: 35


Interesting that China now produces over half of world steel --


-- the world's biggest producer, obviously. We can propagandize ourselves all we want to keep living in our pink fog about China having this problem or that problem, and their growth rate being only 5 or 6% -- 'only,' that's a laugh -- when was our growth rate 5 or 6%. They're nearly at the top in car sales. General Motors makes around 40-50% of it's sales profits worldwide from business in China. The top four banks in the world in Accuity's latest rankings of world banks are *Chinese,* and 5 of the top ten. That's unprecedented. All the old European and US banks are slipping down. Morgan is 6th and that's our best, and they used to compete for the top. And etc., etc.

That behemoth is still growing, like it or not, and is right on track to being on top of the economic heap by mid-century, if not sooner.

Link: http://www.bbc.com/news/business-36457781


Posted: 06/06/2016 at 12:23PM



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