Future of World Powers

[daz h]

Have they sent anyone to the moon yet.

[Roy Scott]

Agreed. There will be another huge property bubble / crisis within the next decade but this one will originate in China, not the West.

Heatherns; Keynesian or Hayekian economics?

[TheHeathens]

Heatherns; Keynesian or Hayekian economics?

I don't think there's one school of economics that has been proven through all stages of the economic cycle and certainly not during times of financial crisis. I wouldn't advise Keynesian economics during an economic boom and I wouldn't advise Hayekian economics during a severe downturn.

Difficult question though and one I couldn't give a definitive answer to.

[Witton Park]

China are going through something similar to the Uk in the 19th century.

They now have power and influence second to none in the world. Where the EU and the USA preach to others, China is in there investing and working with them, signing trade agreements where we still have duties and quotas.

Factories that used to produce for the west are now picking up accounts in the new economies such as Brasil, who have as much buying power and less of the BS.

They still have many years to go yet before the bubble bursts.

Inflation is a problem if it is higher than your growth rate, that's the West's issue.