|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
Stan Rogers
Joined: 20 Aug 2010
|
 Posted: Sat Nov 29, 2014 8:20 pm Post subject: American Superpower Status Weakening |
 |
|
http://english.yonhapnews.co.kr/news/2014/11/30/0200000000AEN20141130000800315.html
The U.S dollar's importance as a reserve currency is declining while the Chinese yuan is growing in significance. The Austrailains and Canadians have recently announced that they will no longer be using the U.S. dollar as an intermediary exchange currency and now the Koreans are about to do the same. |
|
| Back to top |
|
 |
GENO123
Joined: 28 Jan 2010
|
| Posted: Sat Nov 29, 2014 10:29 pm Post subject: |
|
|
The us is going down... so is everyone else.
Next up Asia is going to be in a currency war. And the us continues to be the best horse in the glue factory.
Korea, China, and Japan have terrible demographics.That means debt. Plus I can't see Korea and China cooperating together against the US. They don't particulrly like one another. |
|
| Back to top |
|
|
basic69isokay
Joined: 28 Sep 2014
Location: korea
|
| Posted: Sun Nov 30, 2014 12:39 am Post subject: |
|
|
Everyone knows the US is declining and will continue to.....except Americans haha.
Many arab states now demand gold instead of US dollars as payment. Russian and China too.
The 21st century belongs to China and later on, Russia.
Russia is the superpower that people don't know yet. Just in natural resources alone, its crazy. Oil,gold,timber,etc...China for the 1st few decades, then Russia IMO |
|
| Back to top |
|
|
Cave Dweller
Joined: 17 Aug 2014
Location: Seoul
|
| Posted: Sun Nov 30, 2014 1:57 am Post subject: |
|
|
What does Rusdia that Canada doesnt?
| basic69isokay wrote: |
Everyone knows the US is declining and will continue to.....except Americans haha.
Many arab states now demand gold instead of US dollars as payment. Russian and China too.
The 21st century belongs to China and later on, Russia.
Russia is the superpower that people don't know yet. Just in natural resources alone, its crazy. Oil,gold,timber,etc...China for the 1st few decades, then Russia IMO |
|
|
| Back to top |
|
|
basic69isokay
Joined: 28 Sep 2014
Location: korea
|
| Posted: Sun Nov 30, 2014 4:11 am Post subject: |
|
|
| Cave Dweller wrote: |
What does Rusdia that Canada doesnt?
| basic69isokay wrote: |
Everyone knows the US is declining and will continue to.....except Americans haha.
Many arab states now demand gold instead of US dollars as payment. Russian and China too.
The 21st century belongs to China and later on, Russia.
Russia is the superpower that people don't know yet. Just in natural resources alone, its crazy. Oil,gold,timber,etc...China for the 1st few decades, then Russia IMO |
|
Yea true but cmon its Canada!!! They just dont really have what it takes to be a world power. They're Canadian! Cmon eh? Don't be a hoser! |
|
| Back to top |
|
|
Cave Dweller
Joined: 17 Aug 2014
Location: Seoul
|
| Posted: Sun Nov 30, 2014 4:18 am Post subject: |
|
|
What I'm saying is, if Canada cant do it, how could Russia?
They have 4 times the people but 140 million people is a drop in the bucket. Maybe 11-12% of what China has.
| basic69isokay wrote: |
| Cave Dweller wrote: |
What does Rusdia that Canada doesnt?
| basic69isokay wrote: |
Everyone knows the US is declining and will continue to.....except Americans haha.
Many arab states now demand gold instead of US dollars as payment. Russian and China too.
The 21st century belongs to China and later on, Russia.
Russia is the superpower that people don't know yet. Just in natural resources alone, its crazy. Oil,gold,timber,etc...China for the 1st few decades, then Russia IMO |
|
Yea true but cmon its Canada!!! They just dont really have what it takes to be a world power. They're Canadian! Cmon eh? Don't be a hoser! |
|
|
| Back to top |
|
|
Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
|
| Posted: Sun Nov 30, 2014 3:00 pm Post subject: |
|
|
| GENO123 wrote: |
Korea, China, and Japan have terrible demographics.That means debt. |
I'm not always convinced of this. I think economists are too eager to apply a Western concept of retirement, work, and family model to East Asian social security.
Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). While East Asians do expect their government to live up to its pension obligations, those obligations might not be as strong as other nations and not require the same levels of maintenance.
Of course on the other hand, East Asia is at the worst end of the demographic crisis so all of that might just mitigate things and make them in line with everyone else. |
|
| Back to top |
|
|
atwood
Joined: 26 Dec 2009
|
| Posted: Sun Nov 30, 2014 5:26 pm Post subject: |
|
|
| Steelrails wrote: |
| GENO123 wrote: |
Korea, China, and Japan have terrible demographics.That means debt. |
I'm not always convinced of this. I think economists are too eager to apply a Western concept of retirement, work, and family model to East Asian social security.
Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). While East Asians do expect their government to live up to its pension obligations, those obligations might not be as strong as other nations and not require the same levels of maintenance.
Of course on the other hand, East Asia is at the worst end of the demographic crisis so all of that might just mitigate things and make them in line with everyone else. |
SR posted:
| Quote: |
| Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). |
These are all stereotypes that for the more developed Asian countries such as Japan and Korea don't hold all that true anymore.
As for Asians working into old age, that's more a sign of poverty that a sign of economic strength.
To the OP, why does the dollar continue to strengthen, even with all these attempts to dethrone it as the world's reserve currency?
How are the Asians going to sell their exports if they can't manipulate their currencies to make their products cheap? Currency wars, as noted above, indeed. |
|
| Back to top |
|
|
Stan Rogers
Joined: 20 Aug 2010
|
| Posted: Sun Nov 30, 2014 6:00 pm Post subject: |
|
|
| atwood wrote: |
| Steelrails wrote: |
| GENO123 wrote: |
Korea, China, and Japan have terrible demographics.That means debt. |
I'm not always convinced of this. I think economists are too eager to apply a Western concept of retirement, work, and family model to East Asian social security.
Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). While East Asians do expect their government to live up to its pension obligations, those obligations might not be as strong as other nations and not require the same levels of maintenance.
Of course on the other hand, East Asia is at the worst end of the demographic crisis so all of that might just mitigate things and make them in line with everyone else. |
SR posted:
| Quote: |
| Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). |
These are all stereotypes that for the more developed Asian countries such as Japan and Korea don't hold all that true anymore.
As for Asians working into old age, that's more a sign of poverty that a sign of economic strength.
To the OP, why does the dollar continue to strengthen, even with all these attempts to dethrone it as the world's reserve currency?
How are the Asians going to sell their exports if they can't manipulate their currencies to make their products cheap? Currency wars, as noted above, indeed. |
Lots of Asians work into old age because many of them worked all their lives and simply hate the idleness of retirement. It's not only about money.
Currency valuations go up and down. The dollar strength is no different. What I was talking about s a structural change that makes the dollar no longer as necessary which makes it less valuable over the long term. This is a structural shift in power. |
|
| Back to top |
|
|
atwood
Joined: 26 Dec 2009
|
| Posted: Sun Nov 30, 2014 7:01 pm Post subject: |
|
|
| Stan Rogers wrote: |
| atwood wrote: |
| Steelrails wrote: |
| GENO123 wrote: |
Korea, China, and Japan have terrible demographics.That means debt. |
I'm not always convinced of this. I think economists are too eager to apply a Western concept of retirement, work, and family model to East Asian social security.
Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). While East Asians do expect their government to live up to its pension obligations, those obligations might not be as strong as other nations and not require the same levels of maintenance.
Of course on the other hand, East Asia is at the worst end of the demographic crisis so all of that might just mitigate things and make them in line with everyone else. |
SR posted:
| Quote: |
| Since East Asians are much more likely to accept living with their family, work into old age, seemingly age better and are more physically active (especially the Japanese), and have a very strong work ethic ("work hard" and social shaming and status does have its benefits). |
These are all stereotypes that for the more developed Asian countries such as Japan and Korea don't hold all that true anymore.
As for Asians working into old age, that's more a sign of poverty that a sign of economic strength.
To the OP, why does the dollar continue to strengthen, even with all these attempts to dethrone it as the world's reserve currency?
How are the Asians going to sell their exports if they can't manipulate their currencies to make their products cheap? Currency wars, as noted above, indeed. |
Lots of Asians work into old age because many of them worked all their lives and simply hate the idleness of retirement. It's not only about money.
Currency valuations go up and down. The dollar strength is no different. What I was talking about s a structural change that makes the dollar no longer as necessary which makes it less valuable over the long term. This is a structural shift in power. |
Lots of Americans do as well.
"Asians" covers a lot of ground. Do Filipinos, Thais, Cambodians, Indonesians, Chinese and yes Koreans have such a work ethic? The many, many Korean teachers retiring early would seem to say no.
Until the dollar become less valuable, power hasn't shifted. Your claim of a "structural shift of power" is empty until then. |
|
| Back to top |
|
|
GENO123
Joined: 28 Jan 2010
|
| Posted: Mon Dec 01, 2014 2:50 am Post subject: |
|
|
http://www.marketwatch.com/story/china-plays-big-role-in-oils-slide-2014-11-30
| Quote: |
But if you want to understand why the demand side of oil has been unraveling — and why it could continue — look no further than China.
Opinion over the state of the world’s second-largest economy is typically divided between whether it is merely undergoing a rebalancing or a more painful slowdown after years of excessive credit growth.
But if the industrial commodities that have fed China’s prodigious economic rise are taken as a guide, there is little need for debate: There has already been a hard landing, as all the prices of these resources have collapsed to multi-year lows. |
|
|
| Back to top |
|
|
krnpowr
Joined: 08 Dec 2011
Location: Midwest, USA
|
| Posted: Mon Dec 01, 2014 6:32 pm Post subject: |
|
|
| atwood wrote: |
why does the dollar continue to strengthen, even with all these attempts to dethrone it as the world's reserve currency?
|
It's strengthening because there is more confidence in the American economy and markets [equities or real estate], which is growing stealthily, than in any other economy right now. Europe and Japan are in the gutter, China's growth is fizzling, and OPEC countries and other oil producing countries like Russia are horrified right now as their economies sputter with America's new energy independence.
That's right, just when pundits like OP are casting America as a has been, it has corrected a major chink in its armor. America is self-sufficient in oil now thanks to new fracking technology and is now re-asserting itself while giving a BIG middle finger to OPEC and Russia, while it tightens its grips on Iran and tightens its embargo on Russia and tells the Saudi Royalty that its been nice being in bed with them, but they can go *beep* themselves now.
Ironically, America's international presence has been more strengthened and heralded not when war-mongering Republicans have been in office, but diplomatic Democrats like Clinton and Obama. |
|
| Back to top |
|
|
Smithington
Joined: 14 Dec 2011
|
| Posted: Mon Dec 01, 2014 11:15 pm Post subject: Re: American Superpower Status Weakening |
|
|
| Stan Rogers wrote: |
http://english.yonhapnews.co.kr/news/2014/11/30/0200000000AEN20141130000800315.html
The U.S dollar's importance as a reserve currency is declining while the Chinese yuan is growing in significance. The Austrailains and Canadians have recently announced that they will no longer be using the U.S. dollar as an intermediary exchange currency and now the Koreans are about to do the same. |
LOL. I guess since Kimchi Ninja is no longer with us, something had to step in and fill his shoes. Death to America!!!
Or maybe Stan Rogers is......... Nah, couldn't be. |
|
| Back to top |
|
|
Stan Rogers
Joined: 20 Aug 2010
|
| Posted: Tue Dec 02, 2014 1:50 am Post subject: |
|
|
| krnpowr wrote: |
| atwood wrote: |
why does the dollar continue to strengthen, even with all these attempts to dethrone it as the world's reserve currency?
|
It's strengthening because there is more confidence in the American economy and markets [equities or real estate], which is growing stealthily, than in any other economy right now. Europe and Japan are in the gutter, China's growth is fizzling, and OPEC countries and other oil producing countries like Russia are horrified right now as their economies sputter with America's new energy independence.
That's right, just when pundits like OP are casting America as a has been, it has corrected a major chink in its armor. America is self-sufficient in oil now thanks to new fracking technology and is now re-asserting itself while giving a BIG middle finger to OPEC and Russia, while it tightens its grips on Iran and tightens its embargo on Russia and tells the Saudi Royalty that its been nice being in bed with them, but they can go *beep* themselves now.
Ironically, America's international presence has been more strengthened and heralded not when war-mongering Republicans have been in office, but diplomatic Democrats like Clinton and Obama. |
Fracking? OMG that has ruined so many fresh water supplies in the states. I have a friend who does it for a living. He says the technology has not been perfected yet and the industry is making a mess, but the money is good. He says the industry has upset a lot of people but as long as he keeps getting paid and it's not in his neighborhood it's ok. |
|
| Back to top |
|
|
Stan Rogers
Joined: 20 Aug 2010
|
| Posted: Tue Dec 02, 2014 1:53 am Post subject: Re: American Superpower Status Weakening |
|
|
| Smithington wrote: |
| Stan Rogers wrote: |
http://english.yonhapnews.co.kr/news/2014/11/30/0200000000AEN20141130000800315.html
The U.S dollar's importance as a reserve currency is declining while the Chinese yuan is growing in significance. The Austrailains and Canadians have recently announced that they will no longer be using the U.S. dollar as an intermediary exchange currency and now the Koreans are about to do the same. |
LOL. I guess since Kimchi Ninja is no longer with us, something had to step in and fill his shoes. Death to America!!!
Or maybe Stan Rogers is......... Nah, couldn't be. |
I'm just jerking people's chains. I don't really care that much. Some people on this site are so predictable. I post something and I know who's going to respond and how. It's funny. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
