Thirty years ago the average person in China or India could afford almost nothing beyond basic food and almost nothing beyond basic food and other simple necessities of life. That poverty was a problem for all of us. With so little spending power in the developing world, the global economy was dependent on handful of wealthy nations, especially the U.S. Today however China and India have
become a new source of growth for the global economy.
Hundreds of millions of Chinese and Indians can now splurge on Sony LCD TV's, Australian steaks and Apple iPhones. Last year, Indians and Chinese bought 19.9 million new passenger vehicles, 70% more than Americans did according to J.D Power. This new bonanza for consumer goods increases demand for copper, cotton and other natural resources; the machinery to manufacture those goods; the ships and trucks to transport them; and the people to design and sell them.
The result in higher sales and bigger profits for companies such as Boeing and Rio Tinto, as well as more jobs.
While I read this four or five times to make sure that I understood, not the meaning, but the implications, I could not believe it. The days of international mortgage and banking scams in the first world seem forgotten.
The article does not mention electricity, food, housing, health, education and fresh water for Chinese and Indians. The cultural defects defining USA are evident. Buy and sell. Everything else will be solved by itself.
Besides all this bonanza being hypothetical, the truth is that cheap labor is what developers are constantly searching for . Cheap labor, cheap natural resources.
What is next? A house with a picket fence with a lawn, a TATA in every driveway, hamburgers, tbones and hot dogs for every Chinese and Indian?
The sad reality is that ironic or not, that may be the intention. When I check housing projects in the third world, (what better example than my wrapped in concrete/asphalt fatherland) ALL are the same no matter where on earth.
Forgotten are cultural values, the toxic fumes, the 24/7 traffic jams, the impossibility to construct enough highways for the vehicular volume. I have seen a traffic jam in China in some frontier, a hundred miles long during one week in the news.
Development is always the same, less arable land, less food, less water. Opportunities for insignificant percentages of the population with total destruction of the environment. Puerto Rico have set a great example in every department mentioned. .
Unfortunately, the imbeciles making it possible: lawyers, bankers, engineers, architects, academicians and politicians still speak/write and sing about the beauty of this asphalted hell without any quality of life, where traffic jams, floods, crime, unemployment dominate the islanders life.
that is that
Dario apagueis la luh.