Why there will be no real recovery from this recession

[AtW]

What's the pension and private health package like at Majestic or are you exploiting cheap labour again?

Our income tax and NI payments every month are pretty high...

[AtW]

Yeah because the two are very similar

FFS Do you have some sort of masochistic tendency that forces you to demonstrate what a complete cretin you are?

They are not similar - pulling from gold standard is much bigger chance, pulling from WTO should be trivial so long as EU supports creation of new block. Effectively USA is setting on this path as they want to impose tariffs on Chinese goods that are certainly illegal under WTO rules.

[minestrone]

What's the pension and private health package like at Majestic or are you exploiting cheap labour again?

He has certainly not been exploiting skilled labour anyway.

[Not So Wise]

Personally think there will be a recovery (for the west, east pretty much already recovered) from this recession, but like the last recovery (and boom) it will mainly be on paper, or built on quicksand if you prefer. And it will crash again within 8-10 years and it will be even worse than this time. The growth cycles will keep getting shorter and the crash’s getting worse and longer and it’s going to continue like until the time arrives that the west cannot get back up

The west has spent the last few decades hollowing out the foundations of their various economy’s (industry/production/manufacturing) and exporting them to 2nd and 3rd world counties (mainly in Asia) so they can focus on service industries. This has resulted in a core weakness in the economies of the west and the start of good solid economy’s in emerging markets, hence why most emerging markets literally bounced out of the recession into growth figures that western economy’s would sell their mothers for, while most western economy’s either have anemic growth or are still having nightmares about a double dip

Probably going to take about 70-80 years but Asian countries will become the “1st world” that the west is now, and most western economy’s will be downgraded to “2nd world” class, basically trying to make a living off their past glory’s

For Europe, the only way is down (and the USA, but slower). Which is why I am looking to get the hell out next year and head east

*Yes I know “2nd world” actually means the old communist counties not an actual level of economic/political power but best description I can think of

[Not So Wise]

Effectively USA is setting on this path as they want to impose tariffs on Chinese goods that are certainly illegal under WTO rules.

USA pretty much has never really paid attention to WTO rules except when it suits them or they can use them to force other counties to do what USA wants them to do

[sasguru]

Probably going to take about 70-80 years but Asian countries will become the “1st world” that the west is now,

Eh, you're joking aren't you?

Singapore, Taiwan, South Korea, Hong Kong already have 1st world infrastructure and living standards.
Malaysia, Indonesia, parts of China etc could be considered 2nd world.
India will take much longer.

In any case 70-80 years is far too long its more like 20-30 (1 generation)for most of them to get up to scratch, if they keep they current levels of growth.

[MarillionFan]

Eh, you're joking aren't you?

Singapore, Taiwan, South Korea, Hong Kong already have 1st world infrastructure and living standards.
Malaysia, Indonesia, parts of China etc could be considered 2nd world.
India will take much longer.

In any case 70-80 years is far too long its more like 20-30 (1 generation)for most of them to get up to scratch, if they keep they current levels of growth.

WHS

I quite fancy moving to an Asian country in the next few years. Much better place to live than blighty.

[Not So Wise]

Eh, you're joking aren't you?

Singapore, Taiwan, South Korea, Hong Kong already have 1st world infrastructure and living standards.
Malaysia, Indonesia, parts of China etc could be considered 2nd world.
India will take much longer.

In any case 70-80 years is far too long its more like 20-30 (1 generation)for most of them to get up to scratch, if they keep they current levels of growth.

70-80 years for the whole economic area to reach 1st world standards (akin to way whole of western Europe/North America are generally first world no matter where you go).

Most of the countries that are "already or nearly there" are either small city states or only have small parts of the country that have reached that status (SK being the only exception but they are a bit of special case due to heavy US involvement in the country for last 50 years)

Get out of the capitals/big cities in most Asian countries and you are back in the 3rd world, where as if you leave london and go few hours up north you are still in a modern first world country (though sometimes does not feel like it for Londoner's )

[AtW]

USA pretty much has never really paid attention to WTO rules except when it suits them or they can use them to force other counties to do what USA wants them to do

Rubbish - USA violated WTO rules from time to time, but overall they are not doing it, ie emposing en masse tariffs on all chinese goods for example, which is something on the cards right now but the reason USA wants to do it isn't a problem under WTO rules - it's the WTO principles that make it totally wrong for the West, it's a very bad deal in a long term.

[AtW]

I quite fancy moving to an Asian country in the next few years. Much better place to live than blighty.

The way war in Afghanistan goes you might just get what you wished for - better pray shaunbhoy and Churchill are on the same team with you