This is why China is looking to secure the islands in the South China Sea. They have built themselves up on a fiat currency through stimulus, low wages, and large workforce and unless they start making some serious deals that time will soon be over. America became a super power during the age of the gold standard and further expanded. China has built its entire financial status on a fiat system, it cannot last. America has only lasted this long because of its former status and because we are a country of consumers, the Chinese are still a very rural society not as interested in material things so the country needs a change in the nature of the people if they want to continue this way as well as take off the restrictions that are placed upon them. If a country like the Philippines can start producing at even lower prices than China may not be the go to country anymore and if this happens this is when they need the acquisition of the islands rich in natural gas and other resources or they will need to start convincing the other BRIC nations to legitimize themselves further
Posted on: Wed, 25 Sep 2013 13:55:25 +0000
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