On May 16, 2:30=A0pm, bmo...@[EMAIL PROTECTED]
wrote:
> On May 16, 1:48=A0pm, rst0wxyz <rst0w...@[EMAIL PROTECTED]
> wrote:
>
> > On May 16, 1:09=A0pm, Dave
>
> > <fr...@[EMAIL PROTECTED]
> wrote:
> > > When it comes to China, history is bound to repeat itself and
> > > investors should be ready.
>
> > > "People don't realize that in 1820, China was...the greatest
> > > economic power in the world," said Princeton University
> > > Economics Prof. Burton Malkiel...
>
> > I'm afraid Princeton University Economics Prof. Burton Malkiel doesn't
> > know what he was talking about. =A0In 1820, China had only the shell
of
> > the former empire with no muscles, no technology, no leader****p, no
> > vision of the world ahead of them.
>
> But did they have the largest economy in the world? He didn't say
> military power, he said economic power. =A0China was certainly in
> decline by 1820 but they still were an economic power.
In those days, human muscles power the world, and China always had
plenty of human muscles. But it was not as much as the human muscles
as the ingenuities of past generations. There was no new products out
of China, but generations after generations labored on silk worms and
mulberry leafs, potteries and ****celains that had been around for
centuries. The Chinese themselves were not even awared of the trade
and trans****ting of their products out of the country. China was a
house of cards that scattered at the first volley of gun fire. Even
in the face of defeat, they still insist their superiority of their
civilization by calling others "barbarians". China's complacency had
no bottoms. The British took everything out of China, including their
pride.
>
> BTW, I once took Economics 101 from Burton Malkiel, 30 years ago. He
> was a very good lecturer. Not that he can't be wrong ;-) but I don't
> think he is in this case.
My econ 101 professor was a tall, blonde beautiful PhD with very
excellent power of speech ability. I bet she became a high power Wall
Street millionaire quickly.
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