Anyone that went to Japan knew they would never stay long at the top. I had to go visit automobile companies during the 80s, in Asia and in Europe and here. Japan was a bubble. 100 million people in land the size of CA. But it was a good model of bottom up input in manufacturing.
China owns our debt. Without them buying our debt, we cannot maintain. We do not have job creation. We created jobs in he 80s by rebuilding manufacturing plants, redoing union rules. But even then, it wasn't enough because union workers want a certain level of lifestyle. Workers in Mexico expect a lot less. And we have NAFTA. The US peaked in the 60s. Many nations have been world powers, peaked and gone down. Spain, Britain, France, Russia under Catherine. Happens.
Not to say China won't have mishaps. But DD is learning Spanish also but that is part of her curriculum at school.
Anyone listen to our Fed Chairman the other day? We will have high unemployment for a long time. That is not good. I think many of our kids will have "nowhere" to go if they don't have options. And even if I am wrong, I think DD will be better off knowing Mandarin than not.
Ren
