China's economy, and our debt to them

J

jemartinsen81

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Nov 30, 2007
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China has a very tightly controlled, pratically communistic, economy. Still, the USA is in heavy debt to them, having borrowed trillions of dollars. While we all know the reasons why the USA has to borrow money, I would very much like to know how China is able to lend us so much? What makes their economic system so "successful"? I know they have a very strong work ethic over there, but how is it possible to motivate people to work so hard, when they're practically owned by the state? I'd appreciate good explanations on this. Thanks.
 
Americans would be surprised that in many ways China has a freer market than America. And they tax less too. Their economic system is successful because there is less regulations and taxes, so that encourages entrepreneurship. Also, because saving is very important since there is no welfare state or Social Security in China, people have the money to be entrepreneurs and take risks in business. If China had our constitution, I think a lot of people would move there.
 
China being "communist" just means that there is only one official party in China, the communist party. That's similar to here, where there is a two party cartel that controls everything. China actually has capitalistic economic system, and a one party political system.
 
gaazn said:
China actually has capitalistic economic system, and a one party political system.
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LOL, we actually have a one party system too, it's just that they have made it look like it is a two party system.
 
Hmm, might be time to look into a move to Hong Kong. They speak English there for the most part, too.
 
tmosley said:
Hmm, might be time to look into a move to Hong Kong. They speak English there for the most part, too.
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When I was there, they were speaking some English, but most of the time, I couldn't understand what they were saying. In any case, it was a very strange place to be and I don't really think I would want to live there.
 
Dr.3D said:
When I was there, they were speaking some English, but most of the time, I couldn't understand what they were saying. In any case, it was a very strange place to be and I don't really think I would want to live there.
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Likewise. While I admire a lot about Hong Kong, its just not the sort of culture I would enjoy living in. I'm a western man through and through. I do hope that Hong Kong's success will influence us in the long run -- it'll be hard for politicians to turn down the cold hard facts about the success of capitalism there.
 
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