A decline in consumption in the developed nations means that China and India will not be able to get rid of their surpluses in a not too distant future. If the US had to resort to exports to keep its economy going while the population was still rising and is nevertheless undergoing strategic economic troubles, China and India will reach that ominous milestone too, but much sooner than the US did. China and India have no chance of ever developing fully like the US, Europe, or Japan because they will not be able to find vast virgin markets to fuel their economies to the level of a developed nation. The only reason people in Holland and Sweden live well today is that they subsidize their lifestyles with income from developing nations. If the developed countries of Europe depended solely on local consumption, their economies would have already disintegrated a long time ago.
Posted on: Tue, 09 Jul 2013 10:03:35 +0000
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