From: Steve Davies (steve365@btinternet.com)
Date: Tue Jan 21 2003 - 11:08:27 MST
This is nonsense is the simple answer, for two reasons. The trivial one is
that while China on current trends will become much richer, it's GDP per
capita will still be behind that of the EU and US for some time. The more
serious reason is that arguments like this fundamentally misunderstand the
nature of exchange relations/economics. The underlying assumption is the
mercantilist one that economics is a zero sum game so that growth in China
will have a "devastating effect" on other parts of the world. In fact the
opposite is true, as economics is a positive sum game the richer China
becomes (or to be more accurate the richer people living in the part of the
world called China become) the richer we become due to greater opportunities
for exchange. So it's fantastically good news for everyone. Steve Davies
----- Original Message -----
From: "Nathanael Allison" <jubungalord@hotmail.com>
To: <extropians@extropy.org>
Sent: Tuesday, January 21, 2003 3:13 AM
Subject: china's economic impact
>
> I have read and heard from several different sources that china will have
a
> devastating effect on american and many other nation's economy in the next
> ten years or so. How much of this is true?
>
>
>
>
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