China has a monstrous-size population...millions beneffited from globalization. Basically China remains an agrarian society and industralization needs time to grow...it's doing everything in its power to modernize its economy. Until China does modernize, American and western countries profit from their labours, but when they truly become a first-world country, their standard of living will meet or exceed standards in the countries that previously profitted.

The UK dominated the world for a very long time, but other countries overcame the disparity. One hand washes the other and continues to do so in less developed countries. Globalization shrank the world. People are moving from one country to another and in some instances working in one country and maintaining homes in another.

But that's pretty close to what the average American worker pays on taxes for the defense budget. At least China gets an industrialized base and an infrastructure from their policies.

“Stop throwing the Constitution in my face. It’s just a goddamned piece of paper!” - George W. Bush

China has always been the richest country of the planet, only to loose when they where kinda colonized by the europeans and japanese.
But that situation could nt endure. Since China is a very "patient" country it can afford to wait a generation or two before it assimilates whatever come's at it.
Bet you it won,t be too long before they start collecting the borrower and regain their economic historical status.
Further more the chineese government know all but to well that if it tries to reach the same level of consumption as the west, it,s the end of China "and the world". So they invest in knowledge and now as the rich countries can do start to think in greener environmental terms, they will be ready when the new economy kick,s in, then they'll show their stuff.

Can you imagine what you'd do if someone was borrowing 22% of your income a year and forcing you to endure a lower standard of living in the process?

Sounds like my relationship with my three teenage daughters.

Actually, when I read that I was tempted to offer a link to the IRS. But they don't borrow it, they take it. And 22% would be quite frugal for them.

owe me for everything I bought that broke. Pissonem.

http://mauberly.blogspot.com/

Perot, where the hell are you when we need you? When you ran for president the National Debt was less than half of what it is today.

4000 dollars owed to Chinese people each, does not mean anything rather than our government should feel disgraced to our Chinese people. the west profit on the developing countries, that 's very true.

Can you imagine what you'd do if someone was borrowing 22% of your income a year and forcing you to endure a lower standard of living in the process?

Yes, but as an American, I WISH my tax rate was just 23%.