With few exports and high interest rates Europe will go into a deep recession?

Quote from Dogfish:


China and India will become the most influencial economies in the world whilst us in the western world will see wages plummet and be left to supply the service industry to the new superpowers.

Really?

USA GDP - 13 trillion
China GDP - 3 trillion
India GDP - 890 billion


How about you educate yourself about how globalization really works. US multinationals go out to China as it is a lucrative sweatshop state, set up contracts with local factory owners, put in their standards and pay them a sum that leaves for tiny profit margins. Then they slap on their sticker and resell the product realizing the cost savings.
Most of China' economy is controlled by the multinational corporations, most of which use USA's government & military as the muscle.
In case of India, it's just a scam, nothing more. Dependent on USA's financial & tech industry willing to play the offshoring scam.

Oh no, China is buying into US banks. The same entities full of financial engineering and paper upon paper. First of all, they will never have any real control of the bank, just own a % stake, just like Arab royalty owns stakes in major blue chips and have for decades.

Ever wonder why China fights to keep their currency artificially low? Marinade on that one for a little while.
 
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