tag:blogger.com,1999:blog-6436290627248034888.post1515928120872511664..comments2023-06-22T04:45:54.673-04:00Comments on The Great Recession (2008-2010): The biggest bubble: ChinaAdil Burneyhttp://www.blogger.com/profile/15716540441921591613noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6436290627248034888.post-11501762145848916032010-03-27T08:14:19.648-04:002010-03-27T08:14:19.648-04:00I think China is going to get a booty call from th...I think China is going to get a booty call from the U.S. right after the asset bubble in 2013.dbsknoreply@blogger.comtag:blogger.com,1999:blog-6436290627248034888.post-81765514737094537922009-08-19T10:36:52.464-04:002009-08-19T10:36:52.464-04:00Further to the Japan issue, one of the problems th...Further to the Japan issue, one of the problems that Japan never tackled was productivity. Foreign expats who've lived in Japan (and Korea) have commented that the locals work long, but not necessarily hard. <br /><br />This shows up in the OECD's latest labour productivity statistics, which show that the Japanese labour force produces less value per hour worked than the Italian labour force. Korea, for its part, trails both Portugal and Slovakia on productivity.<br /><br />Part of the problem, I suspect, is culture. Japan and Korea are heirarchical societies. Heirarchical societies and organizations are more averse to deviating from "the way we've always done things" than are egalitarian societies and organizations.<br /><br />China shares Japan's and Korea's heirarchical tendencies. It also has serious problems with corruption, and its huge population is a threat to stability. (Yes, at similar levels of development, smaller countries tend to be more stable than larger countries.) <br /><br />Thus, China has three of the four warning signs of future turmoil. Its saving grace is that it doesn't have a "young" population with a lot of time and energy on their hands.The View from Sevenhttp://theviewfromseven.wordpress.com/noreply@blogger.com