Now I'm wondering if China already has everything in place to dominate the global economy for the next few decades.
Does this mean we're going to start seeing a mass-exodus of corporations heading to China any time soon?
If we want an example of good long-term resource planning, we might want to look to China. While the first world spent the last decade taking on debt and levering up dubious assets like dot-com startups and subprime mortgages, then suffering the inevitable fallout, China kept its debt relatively modest and its currency depressed while it accumulated a vast war chest of foreign-exchange reserves–some $2.1 trillion worth as of the end of June, according to the Wall Street Journal.
Now, with a significant risk of the US dollar and other currencies not backed by hard resources imploding after the greatest spree of worldwide money-printing in history, China is prepared (if not anxious) to exchange its potentially worthless forex holdings for hard assets like oil, metals, and fertilizer.