seriously.. Why are all these Socialist places like Canada, japan, China and Australia booming right now? Month after month they report record growth and record job creation.. I thought Capitalism was the best thing ever, why is our economy here in the US lagging while these other socialist countries are booming?
I thought republicans said socialism is bad, am i missing something here?
ColonelDrakePS3
Australia has had record growth for the past several years because CHINA, where I am living right now and have lived for the past 14 years, is expanding their extremely capitalist economy so fast that they need all the raw materials they can get their hands on. That's why China props up regimes like Sudan, Iran etc. because they need their resources. The australian economy is heavily reliant on mineral exports (mostly to China) which wasn't hurt too badly by the recession. Japan has been stagnant for over 15 years, with near 0 growth, an aging demographic and occasional bouts of deflationary currency.
China is a longer story (or at least I know more about it) and can't really be answered in 1 post. BUT, A) Chinese people love to save. Why? Because China has NO, NONE, ZERO social safety network. Like as in, if you can't pay at a hospital they won't operate despite you bleeding out on their floor. (I know because we took this kid to a hospital that had been hit by a car once and they wouldn't operate until my friend's mom agreed to pay for him). B) They have a HUGE trade surplus, which means the government has buckets of cash and so do most companies. And since the economy is heavily interfered with by the government, when the recession hit they put something in the neighborhood of 200-300 billion dollars into the economy to keep things running. Those are just two reasons that I can think of off the top of my head.
As for Canada, who knows why those canooks do anything?:)
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