Analysts across the world view the rise of China and the work ethic of developing nations as serious threats to the United States’ and Europe’s economic dominance.
Banking crises, failing educational standards, and rising unemployment are among the ills that Western economies face today, and many believe that we have not made significant progress to address these concerns.
Jon Moynihan, Executive Chairman of PA Consulting Group, dissects these problems, taking a deep dive into the stagnating western world in his presentation “The Continued Economic Decline of the West,” which he delivered at the London School of Economics earlier this year.
Read his massive presentation for more on the troubles Western economies face—and how to fix them.
Not so fast. Yes, China has been kicking butt for many years. However, it’s rigid governing structure plus heavy focus on stability means it must experience a big crash. This crash is not optional. Bad decisions and massive corruption have been covered up by fast growth. Now that growth is slowing many of China’s problem will become apparent.
Imagine saving all your money for years in order to send your son to college. Then the son graduates college only to find out that there are no jobs using his degree. There are massively too many people going to college to be absorbed by existing companies. Are you going to be upset?
Imagine taking all your savings in order to purchase one or more apartments as an investment. Later you find out that the real estate market was in a big bubble. Your investment is starting deflate in value as the real estate market plunges. Are you going to be upset?
Imagine toiling away then one day you get tossed out of your home so the local official can sell it to a company. You get 10% of the value of your home. Now where are you going to live? Are you going to be upset?
Imagine hitting it big in China. You are now a billionaire. But there is something funny about billionaires in China – they have a nasty habit of dying. China Daily reported recently that unnatural deaths have taken the lives of 72 mainland billionaires over the past eight years. Are your relatives going to be upset?
The wealthy in China have a wish list. Do you know what is the top item on that list? It’s to leave China. If China is so great, then why do they want to leave? No, there are serious and fundamental problem lurking within China.
The West is surely in decline, but China is going to be in big trouble before too long. And revolution may be in the air.