A Quote by Domenico Dolce
It's a mistake to think things are as bad everywhere, because in Japan and China there is more cash than in the States. They are full of liquid assets. The big problem is that all the world wants to copy the American system.
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I think the retirement crisis globally is a major problem. I think it's especially prevalant in countries such as Japan, where immigration is an issue. I think the US is more shielded from it than most countries in the world. It has a higher birth rate than Japan, immigration is tolerated here unlike probably it is in Japan. I don't think it's as big an issue in the US as it is elsewhere in the world.
The United States can't keep a completely open system if the rest of the world is less open. The United States may have to take a leaf out of the book of Japan, China, and Germany, and have protectionism inside the system.
Now not every policy Donald Trump has floated is bad. He wants to repeal and replace Obamacare. He wants to bring jobs home from China and Japan. But his prescriptions to do these things are flimsy at best.
You American people worry too much about the China economy. Every time you think China is a problem, we get better, but when you have a high expectation for China, China is always a problem.
I think that people here expect miracles. American management thinks that they can just copy from Japan - but they don't know what to copy!
My nation faces a fundamental challenge - survival. The regime is more threatened than ever before. My forefathers had it easy. The Great Leader, my grandfather, ruled with the support of the world's other superpower at the time, the Soviet Union, as well as our China. But today, the Soviet Union is history and China has become more integrated with the Western system. And the United States seeks regime change in my country. And yet, we have survived with our ideology and system intact. How? Because we have built a protection for ourselves in the form of nuclear weapons.
China are running trade deficits with the rest of the world. If you look at the U.S. trade deficit, it's close to $800 billion trade in goods. Half of that is with China, so it's a big part of the problem. And the problem with China, as opposed to, say, Canada, is that China cheats.
There's more emphasis on art and culture in Europe than there is in the United States and I think that a lot of American directors and writers are just trying to copy other American horror films, they don't pick up much in the way that European filmmakers do.
American management thinks that they can just copy from Japan. But they don't know what to copy.
Japan used to beat China routinely in wars. You know that, right? Japan used to beat China, they routinely beat China. Why are we defending? You know the pact we have with Japan is interesting. Because if somebody attacks us, Japan does not have to help.If somebody attacks Japan, we have to help Japan.
Gentlemen, as sure as I'm sitting here now, the result of continuation of a non-system, the ostrich-like head-in-the-sand attitude, the constant rejection of any efforts to solve this problem, will produce an Armageddon in the American population in those states where there is a big problem.
That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
When China got into the WTO, that allowed it to sell into any other country within the WTO - not just the United States - at the lowest tariffs that country offered. And the other countries could sell into China at the lowest tariffs that China offered. The problem, right off the bat, was that China had much higher tariffs than everywhere else, so the U.S. and Europe in particular got the short end of that stick.
I think what you see a lot of in American religion, even in areas of American Christianity that don't go all the way with Osteen to the idea that God wants you to have this big house and so on, the nature of American religion right now, the fact that it is so non-denominational and post-denominational, the most successful churches have to be run more like businesses than ever before. I think that just exposes Christians to a constant temptation to think about the ministry more as a business than they sometimes should.
Japan became an imperialist country in many ways, but that was much later, after it had already made big progress. I don?t think Japan?s wealth was based on exploiting China. Japan?s wealth was based on its expansion in international trade.
China's own recent history proves that when it opens itself, there is nothing its people cannot accomplish. A more open China will lead to a more prosperous and stable China. That's good for China, the United States and, indeed, the entire world.
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