China's not a normal country - it's a huge empire, it's like the first world, the second world and the third world co-exist together
Andy Tsieh, "independent" economist
Precisely -Very well defined .
Is China a third world country ?
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Precisely -Very well defined .
How is this any different from the US, the EU or India. They all have first, second and third world regions.
I guess the best thing is to come and the "difference" for your self;then you will know . It is foolish to rely on others' "opinions .
You don't need much money to go to China for few moth or so . Good experience .
Canaduh
I guess the best thing is to come and the "difference" for your self;then you will know . It is foolish to rely on others' "opinions .
You don't need much money to go to China for few moth or so . Good experience .
Comparing the rural poor to the Shanghai elite is no different than comparing large parts of the southern US to NY.
Bad comparison, the spread between rural poor in China and their elite is far greater than southern U.S. and NY. China will be a third world country for quite a while, at least till they do some more growing.
That is nice, that alone will probably prevent some countries from making deals with them guess one way to slow down their grouth. Wonder what it is with "Pot", it grows almost anywhere.
The three worlds as they were separated during the Cold War era, each with its respective allies. Colors do not represent current economical development. First World: the United States and its allies. Second World: the Soviet Union and its allies. Third World: Non-aligned and neutral countries.
The surest indicator of wealth of a country is its per capita income. By per capita income, China ranks 97th in the world, India, 128. So in my opinion, both India and China are very much third world countries.
I think we are all mislead by the economic advances that both India and China are making. No doubt they have high growth rate, middle class there is prospering. However, both India and China have a huge underclass, there are literally hundreds of millions of people who are dirt poor, perhaps even starving.
So India and China are very much third world (if upcoming) countries.
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
I think we are all mislead by the economic advances that both India and China are making. No doubt they have high growth rate, middle class there is prospering. However, both India and China have a huge underclass, there are literally hundreds of millions of people who are dirt poor, perhaps even starving.
So India and China are very much third world (if upcoming) countries.
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
How about Detroit then, I'd rather live in some African or Asian hell hole than large parts of that city.
I have been there. While downtown Detroit is a busy, bustling place during the day time (especially week days), I don't think I would want to be there at night.
What has that got to do with anything? That only means that USA is in debt to China, that says nothing about whether China is a third world country or not. If you look at per capita income, that tells us that a great number of people in China and India are very poor, and that is the distinguishing feature of a third world country, not how much influence it has with USA.
SirJosephPorter, surely, you must be kidding.
In money exchanges it ALWAYS the richer person/country that lends the money. The one who has to borrow is poorer, the one who lends is richer. The one who lent the money holds the borrower by the (pardon the expression) balls.
Per capita income has absolutely NO bearing on the collective wealth - hence POWER - of a country.
Have you ever borrowed money from a poor person/institution?
In money exchanges it ALWAYS the richer person/country that lends the money. The one who has to borrow is poorer, the one who lends is richer. The one who lent the money holds the borrower by the (pardon the expression) balls.
Per capita income has absolutely NO bearing on the collective wealth - hence POWER - of a country.
Have you ever borrowed money from a poor person/institution?
The one who has to borrow is poorer? Now you are kidding. How do you think rich people become rich? They borrow and use other peoples’ money to make money.
Poor people generally do not borrow money, they just don’t have the collateral. Banks won’t lend to poor people, they are always eager to lend to rich people.
Indeed, look at banks. Poor, middle class people may have bank accounts, or perhaps GICs. That makes them lenders, they are lending money to the bank (for which they get a modest amount of interest).
Rich people borrow on the margin and invest the money in stock market. That is how they make the money. So rich people are the borrowers.
You cannot determine who is rich and who is poor by who is borrowing and who is lending.
Bull****. It's how much they have tucked away. How much of your per capita is going to taxes and debt?