US AAA loss to accelerate China economic domination

With the economic turmoil in the U.S. and the Eurozone sparking volatile market trading, investors are increasingly looking for a safe haven for their money. And it looks like Asia could emerge as the main contender. Many analysts believe that, with the loss of America's triple A credit score and fears of a new wave of recession, China could become the world's strongest economy earlier than expected. Previously, the International Monetary Fund said Beijing could force Washington from its financial throne by 2016. China still holds more U.S. Treasury debt that any other foreign country and has voiced loud criticism of America's handling of its borrowing limit crisis.

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[Jospehporta]

@stephentsang2000 Interesting on your recommendation I'll make sure I read it. Where in HK do you live?

[stephentsang2000]

@Jospehporta

Go read the black swan first, and you will see that intuition and common sense are very often much more useful than a bunch of data overloading your mind, which hinders you from seeing the truth, if not completely obstructed.

[Jospehporta]

@stephentsang2000 Actually they weren't ranked AAA, that was the deceiving part. It was the securitization of debt and then those being split into tranches with various ratings. You should look up tranches in relation to that.

China has exceeded the expectations I set for it 10 years ago. My family has seen huge growth in their investments there.

I have the book the Black Swan but have had no time to read it,

[stephentsang2000]

@Jospehporta Data (and the method & implications being used by so called experts) very often deceives. Most rubbish derivatives were ranked AAA before all hell broke lose in the financial tsunami. What do you say about that? And how's your viewpoint with regard to the economic projection with regard to China, say 10 years before? Have you read about the book "the black swan"?

[Jospehporta]

@stephentsang2000 News flash buddy, being Chinese doesn't make you any more credible about talking about the Chinese economy :) Data is about the only thing you can look at, it is factual.

So what does having more gadgets have to do with China's economy overtaking America's. NOTHING.

Also you come from HK where there are plenty of materialistic people whom love their gadgets, I should know I've lived there for years, in fact my family still has a house on Shouson Hill.

[stephentsang2000]

@Jospehporta

I am Chinese and I am in a better position to interpret reality, not data, more than you do. Don't blindly trust on data cuz most data do more harm than good. For example, most developed countries in Asia have lower nominal GDP than the western countries, but yet the Asian people owns more iphones and fancy gadgets than the westerners.

[Jospehporta]

@stephentsang2000 Oh really, you're basing you're decision on what? Because ALL economic data says the exact opposite of what you claim. Can you even interpret economic data?

[stephentsang2000]

@Jospehporta

China's economy will not surpass USA and Chinese despite their intention to catch up in other areas never can.

[Jospehporta]

@prjerry7 LOL keep raising the debt ceiling and printing money backed by nothing. No wonder the $US is in the toilet. You seem to have absolutely no grasp of simple economics. It's obvious you've never been in business.

Tutor sessions, funny. I'd get better tutoring from a gold fish than you :)

[prjerry7]

@Jospehporta Congress can continue to raise the debt ceiling [thus tacking out more loans thus having more cash]. In the year 1949 Congress debt ceiling was MUCH higher in comparison to gdp then today.

I suggest you don't comment on politics or economics if you know nothing of the subject.

Any more ignorant questions?

I'm thinking of charging you for these tutor sessions :P