Sunday, September 6, 2009

Being Financed Globally

Is it not extraordinary that a developing nation, China, is financing America, a once great industrial nation, through products we buy at Walmart, increasing the debt immeasurably? Globalization sucks.

6 comments:

DB said...

There's never going to be....

There's never going to be a man on the moon. There's never going to be a black president. There's never going to be another depression. Not in this grand old U S of A, the greatest nation on earth.

In China students are learning English. Ever since the discovery of oil in the middle east, the Arab world has become one of the most important areas on earth, politically and economically. And yet when we went off to Iraq nobody in the governement knew Arabic. Now the question is, why aren't they learning Chinese.

There's a prophesy that many people believe which says that it is the destiny of the world to be ruled by the English speaking peoples. Another way of stating that prophesy is that it is the destiny of the world to be ruled by people who are learning to speak English.

DB

Judith Ellis said...

Thanks, DB. I think I get your point about the importance of learning Chinese. But I still wonder about the core cost of globalization. It really would not matter if the Chinese learned English or not would it if we were not financing their economy while increasing our debt? They see a great advantage in it. I am all for cultural exchange. I speak three languages. I am also for true fair trade. But it seems simply foolish to build another nation while ours diminish.

DB said...

Foolish it is, indeed, Judith. A banker in New York told me one day that when a Chinese client came looking for a loan to open a business the loan was almost certainly guaranteed with out much fuss. Moral: Chinese people make excellent businessmen.

I am not irrationally suspicious of China as some people are but I have to ask why we have surrounded the coast of China with battle ships and aircraft carriers when the Chinese can blow up one of their own satellites?

Judith Ellis said...

With 1 billion people, many are irrationally fearful of China. I am not. There need not be dominance of any nation over another. Numbers, in and of themselves, as it relates to progress, do not necessarily matter. Africa proves this particular point. What matters most is the intellectual, innovative, and creative minds behind the numbers and how these ideas are propagated and processed. The Chinese bought Hummer from GM. I assume that there will be many Americans in China developing manufacturing processes.

Bonnie Bonsai said...

I agree. But it's the ideology of some American think tanks Judith to bring out globalization into the limelight involving countries that they have never given due attention before because they already knew where their economy is heading: downhill. Don't panic, for a hoity toity nation will be humbled. And so far, they now realize that. Please don't be offended by my word. It is not my intention to demean your country. Infact, it is only my understanding now that things are happening in America. Even the British government acknowledge the same. But don't forget the promise is given to You people out there. I don't know how much you have realized this.

I am following the prophecy of the promise the Eternal has covenanted with His people. Little did you know that it's right there in your midst.

Judith Ellis said...

Hi Bonnie - I would like to respond to your comment, but I'm afraid I don't quite understand it. Can you re-phrase it?