In article
<3f1a7df4-845f-45e0-b4e0-50328e37feea@[EMAIL PROTECTED]
>,
rst0wxyz <rst0wxyz@[EMAIL PROTECTED]
> wrote:
>On May 16, 2:30 pm, bmo...@[EMAIL PROTECTED]
wrote:
>> On May 16, 1:48 pm, rst0wxyz <rst0w...@[EMAIL PROTECTED]
> wrote:
>>
>> > On May 16, 1:09 pm, 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. In 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. China 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.
Right. They had the most people and the biggest economy. So Professor
Malkiel is right...
>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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