Chinese!

Check it out...

http://www.ritholtz.com/blog/2009/03/financial-institutions-market-cap-1999-2009/

Of the top 20 international banks, the Chinese banks have the top 3 slots...by a WIDE margin. In fact Chinese banks hold 4 of the 20 slots, while U.S. banks only hold 3 slots and the top U.S. bank is only number 5 on the list.

It really shows how the world economic order has changed. The article illustrates this by showing that only 10 years ago, U.S. banks held 11 of the 20 spots, including the top 2.

Another shocker is American being dethroned as having the largest global corporation in the world. That seat now belongs to China.

http://www.independent.co.uk/news/business/news/petrochina-becomes-worlds-biggest-firm-1690705.html

I know this is not the political section and I'm not looking for a political debate or argument. I just thought people should be aware of what is going on in the world around them and too few people pay attention to the other board. I'm pretty economic/political savvy and I didn't even realize it had gotten this bad until I stumbled upon this information. It's not something that our mainstream media likes to pound into our heads. But it is something we need to be aware off.

It's not 1999 anymore. Things have changed. And apparently for more dramaticly than even I realized. Many know that I've predicted doom and gloom for years, and taken a lot of heat because of it, but even I never dreamed of this much of an economic order change...this quickly. I always assumed it was still a decade or so away. But looks like I was wrong.

So....how does it feel to be the worlds' number 2 economy.

Had to happen. 330 million vs well over a billion people.

I am in night school at PSU and learning a lot. The perspective of the general public VS people that have been involved in international business is very different.

What seems like news to us appears to be really old info. I have a lot to learn and I'm asking a lot of questions, so far my teachers are amazing.

It seems out world has changed quite a bit but you may not hear about it on the evening news.

It wasn't the number of people. It was our greed. Our corporations greed to chase cheaper labor. Our consumer greed to chase cheaper prices on frivilious products. Both of which turned into a death spiral that ultimately killed our economy and our nation. We literally gave up our national sovereignty in search of more wealth and power, because we thought we were invincible. After all...we're America! Nobody can touch us. Well...we were wrong. Because we refused to hold our politicans and our businesses and our consumers accountable for their greedy actions to offshore our technology, our resources and our economy, we lost everything.

That's what gave them the ability overtake us and become the world's new and most powerful superpower, by every measure, except military might. And the Soviet military wasteland of the early 1990s, proves that hardware isn't much good when you don't have the money to support it. No matter how big, powerful and scary you used to be.

In a few short years, I imagine we're going to see our own rusting Baltic fleet in the form of a bunch of rusting aircraft carriers and support ships. Except this time, they'll probably be cut up for scrap and sent to China to help pay off a fraction of the trillions in debt we owe them.

I may sound like I've given in the towel and that I'm a defeatest, but my mission is education. And sometimes you have to speak bluntly to wake people up. It's not entirely over. All hope is not entirely lost. But rest assured...it's dam close!

Market Capitalization is the metric used for those comparisons.... which means the rankings are dependant upon what investors think of the present and future prospects of an investment and how much money the business is able to attract for shares. As we have seen, bubbles abound in financial markets..... and as investment capital is placed in one industry or company, it often is withdrawn from another. To an extent, that is what has happened with global investing and the resulting divergence between the market valuations of US and Chinese banks. Investing is often a high stakes opinion poll with real money and the investor is often wrong.

The game may be changing:

China Losing to U.S. Among Investments of Choice

Frank

Yea talking about getting ripped off and how our government is dropping the ball has little to do with giving up. If a person had given up they would not be talking about it now would they? <img src="/forums/images/graemlins/lol.gif" alt="" /> I am a little salty and have no more faith in my leadership yet I still laugh and smile and get on with my business. We really just don't have time in this economy to be defeated. I'll be defeated when I'm dead.

The guy who doesn't discuss these subjects just must not know what's really going on. <img src="/forums/images/graemlins/rolleyes.gif" alt="" />

You are wrong Chris. A lot of us know what's going on but choose not to post here on the wire or on this forum. What good does it do except to increase your post count?


Where are the Mods? This is a political period, are we changing the rules just for this guy?


The OP is a good example of this forum abuse. How many time have we seen this statement?

No, Michael. You're just old <img src="/forums/images/graemlins/nana.gif" alt="" /> <img src="/forums/images/graemlins/nana.gif" alt="" /> <img src="/forums/images/graemlins/nana.gif" alt="" /> <img src="/forums/images/graemlins/smile.gif" alt="" />

Mike, according to the latest news from Google, the Chinese officials (unlike the White House) are actually surfing the Internet and they are reading the news and they are concerned about the people's opinions... May be, somebody here thinks that "they" do read the 4x4Wire and "they" must know our firm opposition to their world dominance <img src="/forums/images/graemlins/smile.gif" alt="" /> <img src="/forums/images/graemlins/smile.gif" alt="" /> <img src="/forums/images/graemlins/smile.gif" alt="" /> I can only guess how it will affect their actions <img src="/forums/images/graemlins/smile.gif" alt="" />

I think most members can figure out that someone has a personal issue with another member of this community and that this is really just a petty reaction to that.

If the mods want to delete or move this thread, please feel free. I fully realize that this is not my forum and the owners can do whatever they would like. I've posted here for over 9 years at their consideration and I sincerely appreciate it. It was never my intention to abuse this forum or cause any problems, much less having a running rift between myself and any other members.

There are many posts in this section that could be offensive to certain people...even against the rules. Read the many page long post that involves a huge discussion about science verses religion and you'll see a thread that technically violates all kinds of rules. But it doesn't bother me one bit...or apparently anyone else.

Most people who are offended or dislike a post or thread do something pretty ingenious. They don't click on it.