How China is upsetting the old global economic order

However, there is a huge dark side not that many people talk about: the effects of pollution due to the need to feed, clothe and shelter nearly 20% of the Earth's population. The medical costs of having to deal with the pollution issues in China could within the next 15-20 years empty China's financial coffers as they deal with potentially hundreds of millions of people sickened by polluted air and water.

I think there is a bit of exaggeration of China and it's supposed economic power as Well as an exaggeration of the importance of wasting money on 3rd world countries.

Lending money to countries which can't afford to pay it back and are run by thugs or at least incompetent governments does nothing But slow the world economy down.

China itself is not efficient, 300 million workers to produce barely 30% of the output of America's 100 million workers in a country where it's total value is inaccessible, this is simply not close to taking over. At best all that is affected is world bank and imf politicians have some competitors in their scams with 3rd world countries

It's inevitable. Once China's standard of living starts rising, some other 2nd World country will become the industrial powerhouse "upsetting the old global economic order". The progression so far has been, Japan, Mexico, Taiwan, South Korea, China. Vietnam has a strong textile presence already and I wouldn't be surprised if they gear up for more industrial efforts.

"IMF credibility, legitimacy and effectiveness" is enhanced by Yuan transparency?

Are dirty environmental controls and slave labor pricing enhanced?

Should the last dog at the bowl see Chinese labor practices enticing enough to offset environmental recklessness?

IMF and World Bank have proved power and morality are mutually exclusive more often than not.

What are the odds of a coin landing on its edge?

Raymond, the pollution produced by the U.S.A. is almost the same as China. And with the fracking going on, the Americans seem to be working on expanding their deserts. It's time to retire the weapons, guns and tanks and start working on ways we can save this planet from turning into a rather large billiard ball.

There isn't anywhere else to go.

BertieWooster, the pollution problems in China is a VERY visible one--especially the frighteningly awful air and water pollution in their cities. It's not a coincidence that the cases of respiratory diseases have gone through the roof in China in the last 20 years, especially with too many coal-burning power plants--plants that don't have anywhere near the exhaust emission controls common on coal-fired power plants in the Western world.

As such, China is now facing potentially monumental medical costs of treating hundreds of millions of people afflicted by diseases caused by air and water pollution. And that monumental cost will be so huge that China's liquid assets will need to be used in a huge way just to treat this large population of afflicted people.

the pollution produced by the U.S.A. is almost the same as China

If we factor in how much of the demand - for gadgets, trinkets and other wannabe landfill - comes from the US, then yes, by a long shot.

People spending money they don't have on stuff they don't need, as George Carlin put it.

FadamorAPR. 21, 2015 - 04:51AM JST It's inevitable. Once China's standard of living starts rising, some other 2nd World country will become the industrial powerhouse "upsetting the old global economic order". The progression so far has been, Japan, Mexico, Taiwan, South Korea, China. Vietnam has a strong textile presence already and I wouldn't be surprised if they gear up for more industrial efforts.

China has peaked in terms of its high growth period, so I'm skeptical of just how much more it's nascent "middle-class" will expand, especially given the level of government incompetence, the lack of legal and contractual safeguards and general economic transparency and the fact that there are too many Chinese.

Further, I agree with Todd that, in addition to there is no real need for this new bank, if its existence is strictly to serve Chinese overseas investment, much of it going into Africa, many of the projects could end up sand down a rat hole in nations with weak central governments and mounting internal tribal and religious problems. Otherwise, the additional investment capital really isn't need in East and SE Asia where most of the countries have even less regard for the Chinese than they do the Japanese.