Re:Jim Rogers - China's the future, dollar is doomed and the...
by bprater on Thursday July 10, 2008 @03:41PM
(#242816)
Wow, I didn't realize that Japan's population was similar to the US. You really do learn something everyday...
I agree, the desire for India and Chinese to bolster the middle class is at the heart of the problems we will face in the next few years.
We balk at paying $4/gallon for gas, but the folks in the East who have no historical frame of reference like we do, may easily accept $8/gallon. (I hate saying we, since some Y!Hackers aren't from the US, you know what I mean...)
If this is true, then Eastern oil importers can bid much higher prices, pushing our prices higher.
First of all Japan has about the same population size as the US, I think it fits between the US and Germany. China and India on the other hand have MUCH bigger populations. And all of their people want to be middle class.
The Asian tigers went through a financial crisis (who hasn't) and I think they have already largely recovered. So while any one of them is small, Vietnam is only about 80 million people, together they are a very significant economic region. And people in all of them want to own cars, eat stake, be just like the first worlders.