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11/09/24
10:33
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Originally posted by moorookamick:
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The end of empire, among other things, usually involves the accumulation of debt. Perhaps we are seeing that now with the USA? I guess the China sceptics may have a point in that Japan rose rapidly post WW2 to challenge US manufacturing and trade just as China is doing today. That said, IMO China is a different economic/political model to that of Japan which aped the the USA when in the late 80s a recession and a property bubble burst stopped it in its tracks which led to the accrual of massive debt and 2 decades of economic stagnation. IMO China today has learned from its Mao period, the demise of the USSR and the economic stagnation of Japan so this is why I think that it won't meet a similar fate.
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“It is the will, the cohesion, the stamina, the discipline of its people, and the quality of their leaders which ensure it an honorable place in history.” Raider Lee kuan Yew