More than that, they have a better culture -- value hard work, education, and self-improvement. Same reason why I have never seen a homeless Asian in the US. As China gains more power and global influence, it will be interesting to see the CCP's views on racial equality and diversity in general. I suspect they won't give 2 shits about it.
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Jamie Dimon talks about income inequality
- Thread starter BMK
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More than that, they have a better culture -- value hard work, education, and self-improvement. Same reason why I have never seen a homeless Asian in the US. As China gains more power and global influence, it will be interesting to see the CCP's views on racial equality and diversity in general. I suspect they won't give 2 shits about it.
So if indeed that is true, would our 3.4% exactly double what China is spending. I think it is like $720B vs $220B. You sure can make it $720B vs $300B if you do not believe China's official figure. That is where we spend all the money in Iraq, Japan, Korea, Saudi, Syria and all other "friendly" countries. We guard Syria's oil, so Assad can't use it. And we guard Afghanistan presidential palace, so Taliban would not attach it. A lot more like that. And some man died because of a $20 bill.
But there's a big difference in that spending. China (and even Russia) spend far more intelligently on defense than the US. US spends a lot of money keeping US troops stationed full-time in countries that should be able to defend themselves (Germany) while China spends the money mostly on weapons and technology development. That's a far smarter strategy.
People have been predicating China or Communist China's demise for half a century or more. Yet, China is catching on to US. What other prediction we want to make?
Maybe demographics. That could be China's downfall. As countries become more developed / educated (and people have more things to do besides making babies), birth rates tend to drop. Also seems that they are having trouble getting past their one-child policy.
This is not new. There might be some true facts but the predictions have been around from quite a long time.