Unfortunately China has a fast growing middle class. China is still a developing country. This would counter all the debt ridden centrally controlled bureaucratic mess. Just look at the stats. China has so much to grow. If they weren't communists, China would have already beaten USSA. It'll take some more time for China to bite the dust.
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Why do you think they are getting away with keeping their currency so undervalued?
Because they are exporting and basically have no trade deficit with anyone.
No political pressure to change things.
Why bother to tell China to correct its currency value if that means you have to buy at more expensive prices and internally; why protest against Communist government when import taxes don't affect you because you are buying Chinese products only?
Good point. But they are cheating, no?
Both Dot-com and housing bubble went on for years. This is a muti-trillion dollar economy. If we add the fact that USSA is in decline, China can keep cheating for a decade at least.
@granunic0rn said the same things that I was going to say. I'd also like to add that Tax rates in china is lower than USSA (with the exception of income tax in states that doesn't have a state income tax)
Thanks for your perspective. What is USSA? Thanks for connecting on here. I hope you have a WONDERFUL day!! 😝 😛
The USSA is the communist united states led by the demon overlords Henry Kissinger, Hillary Clinton and formerly Barack Obama.
And yes, technically China is cheating, but they Elites in China are mostly cheating the average consumer in China to enrich themselves. So, no news there.
Thanks for the explanation! I hope you have a WONDERFUL day! 😀 😃 😄 😁 😆
http://www.urbandictionary.com/define.php?term=USSA
It's a term I picked up from this blog: http://nomadcapitalist.com/blog/
It had such a lot of great articles. Give it some reading time.
Have a great day!