@samyzee Stack level went to deep so I'm replying to my own post. I agree that Asians are underrepresented in terms of global GDP, and with time their share of the pie will grow much larger in keeping with their share of the population.
However economics is not a zero sum game. I'm not adversely affected if Asia's economies grow. In fact, I'd love to see them succeed. More wealth anywhere is good for free people everywhere; it give's me more people to trade with.
>but standards of living and of most economies will definitely decline...the stuff that you bought from china for really cheap wont be so cheap anymore
You've completely forgotten about automation. Within a generation robotics will make low cost labor obsolete. We won't need factories of Chinese workers to build our products; We'll have factories full of robots.
Also, I don't really care who has the most power. I don't care if America has the largest military in the world. I only want our military to protect our borders and police shipping lanes.
If China becomes more powerful than the west and my standard of living increases thanks to technology, I don't care. The only thing to worry about is chinese military intervention, but even if they have a significantly more powerful military our nuclear deterrents will prevent them from directly harming us.
haha ....I got a little too emotional over there(edited) that part...but dont tell me you dont know about the gradual shift of power and revenue from the western to the asian markets....watch the documentary two million minutes.
i agree tht it is not a zero sum game...the world economy is larger than it was 30 years ago....and yes you will be able to trade more since there will be more consumers....but standards of living and of most economies will definitely decline...the stuff that you bought from china for really cheap wont be so cheap anymore....which means tht the average westerner will be no better than the average asian in terms of healthcare,education,food cars etc....(the average asian right now lives on less than $1 a day)...so far so good...we are all happy rite...wrong!!....the asian countries still have a huge advantage in such a scenario...population!!...when everyone has the same standard of living ...it is population which will decide who has more power!!
However economics is not a zero sum game. I'm not adversely affected if Asia's economies grow. In fact, I'd love to see them succeed. More wealth anywhere is good for free people everywhere; it give's me more people to trade with.