The European Union is our greatest competitor; Russia is still basically poor and 700 million people in China still live in extremely rural conditions, not to mention China's coming real estate bubble burst.
china is not our competitor..It is our Master..we are so indebted to China we need to let them give us toys full of lead and the day China calls our debt due we will all need to know Chinese and stop having more than one child. System people enjoy the procreating now!
Cheap Chinese "chunk" (junk). Why in the hell are we buying their cheap quality crap rather than making a superior product in the U.S. using American workers? GREED. I refuse to buy anything made in China - I may not be buying much, but I'm saving a ton of money!
It is difficult to go into any store, including a grocery store and not buy "made in China". I don't think if we looked at stores in China we would see "made in the USA". At this point China has more invested financially in the USA than Americans do and if China should ever decide to quit investing, quit paying the interest on our national debt, we would be totally fractured economically. What I also find interesting is the view of millions of Americans who are against abortion, but have no problem buying Chinese goods. China has forced abortion and condones infanticide. Go figure!
China is by far America's biggest competitor, but I don't believe they'll ever overtake us, unless they change their political system. At present they earn their money with the exports of low wage products, effectively denying the masses of workers a decent life. This is risky in terms of revolution. Increasing wages is an alternative, but that will shift economic power to the people and will necessitate bottom-up creativity, Such a shift of power to the people is a direct danger to the present elite, so prospects for China's rulers look bleak either way. On the other hand, if the elite give up power gradually, 1.5 billion Chinese will be unstoppable.
Europe. Better levels of education and infrastructure amongst many other advantages. Not the least stupid levels of "defense" spending. Both China and Russia have massive systemic problems to overcome and I doubt they will.
From a manufacturing POV. yes. We have spent the last 20 years practically hosing China with our manufacturing and sending the brightest over to Asia in general. Is it any wonder we have created in essence our own largest competitor.
While the West takes a view to the next quarterly earnings, China takes a view to the next 200 years. Our short-sight allows them to have a false exchange rate (already a game they played during WWII with valuing articles received in aid). They maintain an uneven playing field, limiting access to their internal markets. As a result, companyÂ´s that produce profitably already abraod, feel forced into opening manufacturing in China, not to save money, but to gain access to their market. But the West then looses the jobs, the infrastructure and the expertise. It is a huge mistake to permit this and play on their terms.
We owe them so much money that even the Federal Reserve couldn't pay off our debt to China. We are too beholden to all of these countries and we did that to ourselves by who we put in office, and keep in office. When will we ever wake up and put the brakes on this constant drain of our monies and goods??. These other countries are reaping the benefits while we slowly bleed to death just trying to pay interest on our debts, and they are real not imagined The world laughs and we cry alone!!!