Feb 25, 20163 min
The Chinese, as we know from history, are very calculating and very patient. They take their time to achieve their desired goals. When you total up all imports and exports of goods, China is now the number one trading country on the entire planet. China now has the largest new car market in the world, and residing in Asia as I am, when I am in China, I see all kinds of Ferraris, Lamborghinis, Aston Martins, and many exotic cars on the streets in China. China has more foreign currency reserves than any other country on the planet, and is the number one gold producer and importer in the world. (Note: China is set to serve as another global reserve currency with IMF backing as of October 2016).
Over the past decade, the Chinese economy has grown a staggering seven times faster than the United States economy. But this shouldn’t be too much of a surprise, as the United States has lost 32% of its manufacturing jobs since the year 2000 (Note: Trump pledges to bring these jobs and dollars back to the U.S.) Many of those jobs have shifted over to China, and now are even going to other low-cost producing countries such as Cambodia, Vietnam as the global power shift continues. The United States has lost an average of 50,000 jobs per month since China joined the World Trade Organization, along with over 56,000 manufacturing facilities over the past eleven years.
According to the Economic Policy Institute, America is losing 500,000 jobs to China every year. China now produces twice as many automobiles as the U.S. (It’s no wonder they are making bi-lateral trade agreements with oil producing nations to try to get their oil). China produces eleven times as much steel as the United States, and over 90% of the global supply of rare earth elements. Shockingly, China is the number one supplier of components that are critical to the operation of the U.S. Defense System.
The average household debt in the United States is 136% of U.S. household income. In China, the average household debt is only 17% of average household income and China is beginning to buy large amounts of real estate in an attempt to reduce some of their U.S. Dollar holdings and acquire real tangible wealth. In 2011, one out of every ten houses sold were sold to a Chinese individual. The Chinese are the second largest block of home buyers in the United States. This is staggering to consider, as these are not temporary layoffs. These are structural changes in the economy, and those jobs will not be coming back to America anytime soon, or anytime at all. For that to happen, the standard of living in Asia will have to increase, the standard of living in America would decrease and when it equalizes, jobs could potentially come back to the United States, but that will take decades or even centuries. Ladies and gentleman the global shift of power is underway with major triggering events yet to unfold. Be prepared. You must act in order to survive and thrive. It is not business as usual I can assure you of this.
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