Interesting article:

Will China's Economy Eclipse US?

 

It could happen, especially if they expand drastically with big ticket items/durable goods. But, there are always growing pains too. Right now they are bringing online one new coal-fired power plant each week. They are building nuclear plants, as if they were Walmart. They likely will surpass us in Greenhouse gases within a year or two. They will not allow themselves to be shackled by any global rules or regulations. Nobody will stand in their way either. Most troubleling to me is the supposed rise of nationalism and national pride, which may impact on their willingness to import finished goods or concern themselves with trade balences. Plus, they can grow enormously just trying to meet their internal consumption demands.

 

We stumbled upon a program called "The People's Republic of Capitalism" on the Discovery Channel. They already showed 2 parts of 4. It is led by Ted Koppel reporting from the Chinese city of Chongqing. The remaining 2 parts will be shown tonight and tomorrow night.

http://dsc.discovery.com/convergence/koppe...highlights.html

[QUOTE]The American and Chinese economies are irreversibly intertwined. The common complaint that the Chinese are taking jobs away from American workers is in many cases true. China's cheap and abundant labor attracts manufacturing from all over the world. Still, American economists estimate that the U.S. is as much as $70 billion richer each year because of its relationship with China

 

I'll point back to T Boone Pickens article and say think about all that growth and how much fuel they'll use.
I reiterate it is a urgent matter of national security that we get alternative sources on line as fast as possible, and I''m not talking about oil.

 

I still remember a conversation with my dad when I was in my teens. He predicted that before the end of the 20th century China would be in an economic class by itself, dominating the world economy. Turns out they are a little behind schedule but not much. My dad is a smart guy. (Smart enough to hang onto my mom for 60 years.)

 

Blogging stocks now Val? If you get any good tips, lets us know. I am tired of taking it in the fanny with all this fanny/ freddie stuff going in the crapper. I keep wondering if I should get in to Pacific stocks more but I never take the time to look into it. tof, has you 'smart' dad got any tips?

 

Westinghouse Nuclear Research is building a new facility here in the Northern Suburbs. Hiring 4,000 new engineers. Reason: 21 new nuclear facilities in China! When we will wake up (not political)

 

Every engineering discipline has cycles. right about now I'm wishing I was a power engineer.
The field is definitely going to be coming back to them.

 

As many of you may remember, Jerry and I were in China at the same time last October. I was here again in May and am writing this from the Beijing Hilton. I just arrived this afternoon.

I am amazed at the changes I have seen just since October. It seems that every hotel has expanded for the Olympics (I'm assuming). The Hilton opened a new executive tower on July 1st. I know there was a new Marriott being built, and I bet it is open now.

The new International terminal is open at the airport, and it is huge and bustling. When I was here in May, the International terminal was very empty, but not now.

I am working on a process to remove sulfur from gasoline. The process was purchased by Sinopec last year, and they have plans to build 10 units in the next 2 to 3 years. For comparison, it took ConocoPhillips 7 years to design and build 7 units.

My point is that once the Chinese decide they want to do something, they make it happen.

I don't want to leave the impression that all is happiness and light here in China. It is still a totalitarian regime, but the interesting thing is that I hear middle-class people talk about "when Communism is over" here in China.

Anyway, I'm rambling - jet lag will do that to you.

 

^^ We're seeing a similar thing here. Areva is hiring engineers and workers for nuclear work in Europe and China. China is somehow managing to do in a month what takes several years here: building nuclear power plants. hmmmm, I wonder if they are as concerned about disposal of waste and environmental impact as other countries? I find myself in light of recent revelations about defective products, checking to be sure anything I buy is not made in China.