http://www.crikey.com.au/2012/11/12/welcome-to-the-asian-century-chinese-dragon-roaring/ now with extra source Tue, 21 May 2013 05:30:22 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2012/11/12/welcome-to-the-asian-century-chinese-dragon-roaring/comment-page-1/#comment-227847 The Pav Mon, 12 Nov 2012 06:39:45 +0000 http://www.crikey.com.au/?p=330041#comment-227847 1) The new China leadership cannot afford instability so they will find a way to stimulate growth with or without the USA & Europe 2) Given 1 above the fact Europe going guts up, whilst obviously will have an impact, good old Aussie will sail on and we will be able to do ABC ( Another Bl@@dy Church or another Bl##dy Castle) tour on the cheap as the AUD stays relatively strong 3) The fiscal cliff in the USA will keep getting pushed out and out and eferred until eventually it sort of fades away. There will be more than a few scary moments but Uncle Sam will escape disaster...just 1) The new China leadership cannot afford instability so they will find a way to stimulate growth with or without the USA & Europe
2) Given 1 above the fact Europe going guts up, whilst obviously will have an impact, good old Aussie will sail on and we will be able to do ABC ( Another Bl@@dy Church or another Bl##dy Castle) tour on the cheap as the AUD stays relatively strong
3) The fiscal cliff in the USA will keep getting pushed out and out and eferred until eventually it sort of fades away. There will be more than a few scary moments but Uncle Sam will escape disaster…just

]]> http://www.crikey.com.au/2012/11/12/welcome-to-the-asian-century-chinese-dragon-roaring/comment-page-1/#comment-227770 Hamis Hill Mon, 12 Nov 2012 03:24:57 +0000 http://www.crikey.com.au/?p=330041#comment-227770 Adam Smith identified wages as returning capital, that is wages return when the goods encompassing those wages are sold. China like Japan before it has a vast fortune of returned capital from foreign sales of its manufactured goods. In other words foreigners have long paid the wages of Chinese workers. Now it is time for Chinese authorities to start paying the wages of their own people instead of enabling its own capitalists to keep exploiting China's low wages. Develop its own domestic economy with what is now its own money. Something new for China? Paying its own way in its own world now that North America and Europe can no longer continue to beggar themselves (by returning wages to China, instead of to their own employees) for low wage, Chinese goods? What prospects of an equal, wages playing field? Adam Smith identified wages as returning capital, that is wages return when the goods encompassing those wages are sold.
China like Japan before it has a vast fortune of returned capital from foreign sales of its manufactured goods.
In other words foreigners have long paid the wages of Chinese workers.
Now it is time for Chinese authorities to start paying the wages of their own people instead of enabling its own capitalists to keep exploiting China’s low wages.
Develop its own domestic economy with what is now its own money.
Something new for China?
Paying its own way in its own world now that North America and Europe can no longer continue to beggar themselves (by returning wages to China, instead of to their own employees) for low wage, Chinese goods?
What prospects of an equal, wages playing field?

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