Thom Hartmann: Is China about to Economically Fall?

[thomhartmann]

Mark Weisbrot, Center for Economic Policy & Research (CEPR), joins Thom Hartmann. News from China sent global markets tumbling today. What's causing the sudden fall in prices - and should we be worried about a new financial crisis?

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[Tobin S.]

1. Very good interview there.

I'm currently taking an international business class and learning about China and the BRIC countries.

[Left Coast2020]

2. I had a feeling this would happen

When I was there in 2009, and before leaving in 2011, I heard the talk began circulating that housing and food were going up. This was just the early stages when the people there were begining to get pissed because of these increases. But I've been led to believe (and even seen reports when costs started going up) that it would be a good thing for our economy. To an extent, it has as some American manufacturing has pulled out of China and came home to produce stuff here. Don't remember if it was CNN or MSNBC, but there were stories of business coming back when things started improving here. I fairly certain it was on CNN and was probably posted here last year.

I don't understand the "nook and crannie" economic stuff, but having American products made in USA was what we needed, and are getting to this day--with some exceptions. Perhaps more companies will pull out of China while Beijing wonders what its doing wrong. Perhaps it has something to do with building too many structures with no buyers, and asking 500,000 RMB or more when no one wants to spend that kind of money.

What I would wish for is a crisis in China that really sets off the people--leading to an uprising and (hopefully) a new government. Emphasis on "wish".