Billyonaire:

I think the problem here is the fear America. Russia during the Syria war imbroglio prove to the world that there is a political alternative to USA. Chinese have proven that there is Economic Alternative to USA. And this default whether it happens or not will present an alternative to the dollar. Watch out. The truth is, from this stand point, the world knows that their investments are no more safe in USA. Remove that fear away and you will see that there is a new World Order. Sometimes stay off American Channels and tune to Chinese channels and see the number of countries signing deals everyday with the about to announced Economic numero uno - China. London Mayor with High ranking members of British parliaments sign exchange deals with China last week.

You are right but, trust me, China and Russia are not strong enough to lead the world economically and politically. At least, not yet. These two countries still grapple with a sizable population of stark poor people. They still grapple with the problems of political ideology and creating a political class. Their form of government is a concern. Their legal system and rule of law is archaic. Most activities in these countries are shrouded in secrecy. Language is a concern.
Their banking system is nothing to right home about; especially Russia's. Corruption is pervasive.

You don't lead the world with just nuclear warheads and ICBMs. You need to strengthen your legal and political system. Your economic and banking institutions also need a rejig.

It is a very complex web. And, that, to me, represents America's margin of advantage, my brother.

Billyonaire: Please Explain the bold paragraph especially stockpiling dollars via one-way trade.

Yankees are no fools. Stockpiling Uncle Sam's money, in order to frustrate Uncle Sam? I laugh in Nipongo.

Billyonaire:

I think the problem here is the fear America. Russia during the Syria war imbroglio prove to the world that there is a political alternative to USA. Chinese have proven that there is Economic Alternative to USA. And this default whether it happens or not will present an alternative to the dollar. Watch out. The truth is, from this stand point, the world knows that their investments are no more safe in USA. Remove that fear away and you will see that there is a new World Order. Sometimes stay off American Channels and tune to Chinese channels and see the number of countries signing deals everyday with the about to announced Economic numero uno - China. London Mayor with High ranking members of British parliaments sign exchange deals with China last week.

clearly you are anti American and as such your judgement is sentimental.
In the case of Syria the goal was to stop the use of chemical weapons and that goal was achieved,Because of the credible threat of Force by the US.
Syria has finally signed the treaty and OPCW are already working to get rid of the chemical weapons. Depending on the side you are on,it is a win win.

China and Russia are busy promoting strong men (e.g Putin) at a time the entire world cries out for strong institutions. Wrong footing, IMO.

Ola one:
You are right but, trust me, China and Russia are not strong enough to lead the world economically and politically. At least, not yet. These two countries still grapple with a sizable population of stark poor people. They still grapple with the problems of political ideology and creating a political class. Their form of government is a concern. Their legal system and rule of law is archaic. Most activities in these countries are shrouded in secrecy. Language is a concern.
Their banking system is nothing to right home about; especially Russia's. Corruption is pervasive.

You don't lead the world with just nuclear warheads. You need to strengthen your legal and political system. Your economic and banking institutions also need a rejig.

It is a very complex web. And, that, to me, represents America's margin of advantage, my brother.

I used to reason like you until the NSA leak from Snowden. America's population as at this minute is 316,906,069 of which a whooping 46,916,789 are LIVING IN POVERTY. The pictures of America you see on TV is actually a marketing ploy to make you think that everyone in USA is doing great, which makes many of us start investing in that country under the EB-5 Visa category.

Taking about achaic; Remember this, which country has the highest number of Prison and Prisoners ? America still support Death Penalty.

Talking about Freedom and Liberty: NSA is more funded than the pentagon and billions of private phone conversations, private e-mails are recorded even as I type this, its being recorded and can be used against me. Is this what you call Freedom ? I guess their TV manipulation succeeded in altering truth for make-belief.

Talking about Political Models; I do not "believe" that Democracy is the best form of Government, but I do know that it is better than keeping one man as President or King for a lifetime. So, lets ask ourselves this question sincerely. Did you and I know Jonathan Goodluck IN PERSON to adjudge his content of character enough to vote for him ? The answer is NO, not all of us knew him in person, all we know about him is what the imperfect press feeds us with. So the best Presidents should come from an elite group of panel elected and trained to be leaders, so even if we have 100 persons trained as elite leadership order, then anyone person mounting the Seat of Government has a mindset orchestrated by an elite group minds, that's the Chinese for you. Leaders come from a crop of party hierarchy and elected directly by people who know them. The populace knows not enough to make good decision on who should be President, personally Democracy is why US can not meet her obligations and why there is a divide here and there in the ruling class.

I don tire, make I go take cold beer for bar, I dey come.

abubaka101:
Every country eyes America's role, but very few hav d ability or resources to challenge for dat role. China has the man power, the land the technology and to an extent, the leadership. Those gigantic structures as u said are mostly found in their EFZs like Shanghai also places like Macau, Hong Kong, Taiwan are not excluded, attract huge investments.
China is also the home of substandard product manufacturing, hence "chinko", fake batteries, tvs, electronics etc... These goods are later exported to other nations. Those tall buildings are very much useful... Also note dat China is very strict on internet contents within it's teritory, hence you can't just Google anyhow about China and hold on to every search result as reliable or authentic. Verify it properly... Please correct me if am wrong...

You are wrong. why should they restrict the flow of information in the country? it only Shows they have something to hide, ie the real economic growth figures. At least you said they have the technology to an extent. the ones they acquired by hacking american systems and technology. you don't go anywhere with that, you must innovate.

America, please default so we all can start again, default so china can fall yakata, I know they diversified their portfolio (commodities, swaps etc), but other investments won't savage the big fall, the US dollar is still the best, forget other big currencies.

I hate china especially with their deception, Rome wasn't built in a day, if you want to become the world power, let it be obvious, don't achieve that with deceit, especially since everything achieved with deceit will amount to nothing.

If you have invested a lot in US (bills, bonds and what have you), do something about it, when the effect of the default (I hope US does that) is done and dusted, the confidence will be back, it is just a normal cycle. (Check out 1930s saga).

America is still the only country that can lead the world, others are hundreds of decades behind and far from that feat.

God bless America!

Billyonaire:

America's population as at this minute is 316,906,069 of which a whooping 46,916,789 are LIVING IN POVERTY.

Any data on hundreds of millions of Chinese that cannot afford to own their cheap fake phones?

nitrogen: America, please default so we all can start again, default so china can fall yakata, I know they diversified their portfolio (commodities, swaps etc), but other investments won't savage the big fall, the US dollar is still the best, forget other big currencies.

I hate china especially with their deception, Rome wasn't built in a day, if you want to become the world power, let it be obvious, don't achieve that with deceit, especially since everything achieved with deceit will amount to nothing.

If you have invested a lot in US (bills, bonds and what have you), do something about it, when the effect of the default (I hope US does that) is done and dusted, the confidence will be back, it is just a normal cycle. (Check out 1930s saga).

America is still the only country that can lead the world, others are hundreds of decades behind and far from that feat.

God bless America!

I will love to add "GOD HELP AMERICA". The world needs America.

Why a few of you are attacking me is what I don't know, I passing a message and simply joining the Chinese to say it's time the world is De-Americanized. Please focus on the subject and debate it and leave me out of it.

Ola one: China and Russia are busy promoting strong men (e.g Putin) at a time the entire world cries out for strong institutions. Wrong footing, IMO.

Which Strong man is China promoting? You might not like the Communist Party in China but it is a very strong institution and it works for China at this point in time. It has shown the ability to organize orderly successions and we must realize that governing over One billion people is NOT a theoretical pursuit. The fact that a country holds regular elections does not mean that it is "democratic" or that it governs in the interest of its citizens
As far as the question of which system is best goes that is better considered using a long term perspective.
One thing is certain China has used its human resources to lift its people economically and one would expect that political reform would follow which goes contrary to the Western doctrine of "Seek ye first the kingdom of democracy and everything shall be added unto you" That has clearly not happened in India which appears to have stagnated economically in comparison to China

What do you mean by the World cries out for strong institutions? What does that mean exactly

ckkris: Any data on hundreds of millions of Chinese that cannot afford to own their cheap fake phones?

Chinese population is approximately 5 times of that of America, as at last week the population of China stood at 1.351 billion. And let's assume that a billion of them can not afford their "cheap fake phones", but that is actually a plus. In Economics, we say, there is a Market for 1 billion Phones in China, and let's say the cheap phone is $1 each, it therefore means, there is market for $1billion dollars worth of phones in China but US market has been saturated cos no one is without a phone there (if that makes you happy), so in essence, its actually a plus for China.

Billyonaire:
I used to reason like you until the NSA leak from Snowden. America's population as at this minute is 316,906,069 of which a whooping 46,916,789 are LIVING IN POVERTY. The pictures of America you see on TV is actually a marketing ploy to make you think that everyone in USA is doing great, which makes many of us start investing in that country under the EB-5 Visa category.

Taking about achaic; Remember this, which country has the highest number of Prison and Prisoners ? America still support Death Penalty.

Talking about Freedom and Liberty: NSA is more funded than the pentagon and billions of private phone conversations, private e-mails are recorded even as I type this, its being recorded and can be used against me. Is this what you call Freedom ? I guess their TV manipulation succeeded in altering truth for make-belief.

Talking about Political Models; I do not "believe" that Democracy is the best form of Government, but I do know that it is better than keeping one man as President or King for a lifetime. So, lets ask ourselves this question sincerely. Did you and I know Jonathan Goodluck IN PERSON to adjudge his content of character enough to vote for him ? The answer is NO, not all of us knew him in person, all we know about him is what the imperfect press feeds us with. So the best Presidents should come from an elite group of panel elected and trained to be leaders, so even if we have 100 persons trained as elite leadership order, then anyone person mounting the Seat of Government has a mindset orchestrated by an elite group minds, that's the Chinese for you. Leaders come from a crop of party hierarchy and elected directly by people who know them. The populace knows not enough to make good decision on who should be President, personally Democracy is why US can not meet her obligations and why there is a divide here and there in the ruling class.

I don tire, make I go take cold beer for bar, I dey come.

Would you be happy to live in a country where you or even your lineage is not considered as clever enough to be members of this so-called "elite group of minds"? Would you want to live in a country where you can't aspire just because you are not considered elite, refined and clever enough to do so?

And, forget that notion about poverty in America. Yeah, there are poor people there but it is negligible compared to realities of the lot in China and Russia. Russians are many in UK's construction sites living on peanuts.

Nairalanders love to bash the UK, for example, but, when will China and Russia get to the level of creating social safety net for their citizens? And, I mean one that encompasses the top half of Maslow's Hierarchy of Needs? In the same China where you can't question government activities? Where non-conformists are repressed and oppressed? Where freedom of expression is a foreign expression and people are fiercely gagged? Where Internet activities are monitored and useful and informative sites are blocked?



And, if I may add, you wouldn't want to know the number of Chinese people who are willing to risk an arm and a leg to live in a place like the UK, even as DVD sellers. You will however hardly find a European scavenging in China. Says a lot.

Billyonaire: I will love to add "GOD HELP AMERICA". The world needs America.

Far more than people realise.

ckkris: PARASITE ! Like China, you're unwilling to make sacrifices, to develop your own internal markets, as the US does. Parasites want ready made marts for INSTANT MONEY. But Yankees are no fools. Why are the Chinese complaining? Are they not a world power?
Nigerians better support President Jonathan's 'Bottom-Top' economic development model, instead of the dubious 'Top-Bottom' model that breeds the likes of Tinubu trillionAires.

You call me a parasite? Parasite on what exactly? You've done well to talk a lot but you haven't said anything... My advice is you rephrase AGAIN.

0monnakoda:
Which Strong man is China promoting? You might not like the Communist Party in China but it is a very strong institution and it works for China at this point in time. It has shown the ability to organize orderly successions and we must realize that governing over One billion people is NOT a theoretical pursuit. The fact that a country holds regular elections does not mean that it is "democratic" or that it governs in the interest of its citizens
As far as the question of which system is best goes that is better considered using a long term perspective.
One thing is certain China has used its human resources to lift its people economically and one would expect that political reform would follow which goes contrary to the Western doctrine of "Seek ye first the kingdom of democracy and everything shall be added unto you" That has clearly not happened in India which appears to have stagnated economically in comparison to China

What do you mean by the World cries out for strong institutions? What does that mean exactly

The population of poor people in China is larger than America's entire population. They have a long way to go.

Billyonaire:

Chinese population is approximately 5 times of that of America, as at last week the population of China stood at 1.351 billion. And let's assume that a billion of them can not afford their "cheap fake phones", but that is actually a plus. In Economics, we say, there is a Market for 1 billion Phones in China, and let's say the cheap phone is $1 each, it therefore means, there is market for $1billion dollars worth of phones in China but US market has been saturated cos no one is without a phone there (if that makes you happy), so in essence, its actually a plus for China.

Don't twist things. the rate of poor people in China is far far
bigger than that of the US. that is in relation with the population of the two nations

Ola one:
Would you be happy to live in a country where you or even your lineage is not considered as clever enough to be members of this so-called "elite group of minds"? Would you want to live in a country where you can't aspire just because you are not considered elite, refined and clever enough to do so?

And, forget that notion about poverty in America. Yeah, there are poor people there but it is negligible compared to realities of the lot in China and Russia. Russians are many in UK's construction sites living on peanuts.

Nairalanders love to bash the UK, for example, but, when will China and Russia get to the level of creating social safety net for their citizens? And, I mean one that encompasses the top half of Maslow's Hierarchy of Needs? In the same China where you can't question government activities? Where non-conformists are repressed and oppressed? Where freedom of expression is a foreigner expression and people are fiercely gagged? Where Internet activities are monitored and useful and informative sites are blocked?



And, if I may add, you wouldn't want to know the number of Chinese who are willing to risk an arm and a leg to live in a place like the UK, even as DVD sellers. You will however hardly find a European scavenging in China. says a lot.

Have you ever been to China? You just sit down and regurgitate what the West tells you about them. People question government activities regularly in China but China is NOT the West they have a different culture. Everything you think you know about China is what the West has told you. I suggest you go and see things for yourself

cocoduck:
Don't twist things. the rate of poor people in China is far far
bigger than that of the US. that is in relation with the population of the two nations

What evidence do you have for this?

Pain:

So what are your alternatives in terms of diversification?

Right now, there aren't any viable options on the table at the moment, I'm not saying Nigeria shouldn't hold U.S. currency as reserve, what I'm saying is they should reduce it DRASTICALLY. We need to develop our markets both internal and external and build other smaller countries around us where there currency isn't manipulated. For instance, as much as we bicker on NL, Ghana has stability in her currency for a few years now., it's time to support Africa amongst ourselves.

Oh I forgot to add, I commend SLS for initiating the discussion and taking the willing action to begin diversification. I'm an SLS critic, but on this one he got it right. I heard SLS was looking to hold a decent portion of rising African nations.

Donmams: The fact is any individual or country that oppresses muslims will eventually be destroyed by the Almighty Himself. America is on its way to extinction. So is GEJ.

Who is this
You have nothing tangible to say, why not shut your trap!
Na wa o!

Billyonaire:

Chinese population is approximately 5 times of that of America, as at last week the population of China stood at 1.351 billion. And let's assume that a billion of them can not afford their "cheap fake phones", but that is actually a plus. In Economics, we say, there is a Market for 1 billion Phones in China, and let's say the cheap phone is $1 each, it therefore means, there is market for $1billion dollars worth of phones in China but US market has been saturated cos no one is without a phone there (if that makes you happy), so in essence, its actually a plus for China.

Americans scrap their cars, & recycle them, every few years.
Hey Billyonaire, its time to start thinking like a Billionaire. Uncle Sam has huge appetite for the GOOD LIFE.

Ola one:
The population of poor people in China is larger than America's entire population. They have a long way to go.

What does that mean? Is that short hand for you have nothing to say? Right now the Chinese are funding 10% of the American economy . In other words the US is broke and in decline while the Chinese are in the ascendancy

cocoduck:

You are wrong. why should they restrict the flow of information in the country? it only Shows they have something to hide, ie the real economic growth figures. At least you said they have the technology to an extent. the ones they acquired by hacking american systems and technology. you don't go anywhere with that, you must innovate.

haha now I laugh in chinchung.... China is poor when it comes to technological innovation I agree. But to believe dat they use internet censorship to hide economic info is comical... China has always preferred a little bit of isolationism, why do u think they created/erected the Great Wall of China over a 1000 years ago?

0monnakoda: What does that mean? Is that short hand for you have nothing to say? Right now the Chinese are funding 10% of the American economy . In other words the US is broke and in decline while the Chinese are in the ascendancy

Which economy are they funding? It is the other way round. America remains China's biggest market. Without a robust economy in America, China's equally doomed; at least, in the short to medium term.

Ola one:
The population of poor people in China is larger than America's entire population. They have a long way to go.

China's current setup has helped move over 600m people out of poverty, Americas population is less than 400m.

0monnakoda: Have you ever been to China? You just sit down and regurgitate what the West tells you about them. People question government activities regularly in China but China is NOT the West they have a different culture. Everything you think you know about China is what the West has told you. I suggest you go and see things for yourself

And you saying they don't block informative sites, for example? The world does not want a country with "different culture", we want a transparent and just one.

0monnakoda:
What evidence do you have for this?

OMG the extent people will bury their heads In sand. The evidence is all around you. have you forgotten what happened in Ghana the other day. when ghanaian authorities arrested Chinese people for illegal mining in Ghana. I bet you chose not To listen to their(Chinese ) stories of poverty and desperation. okay look at Chinese companies in Nigeria. they being their own people to do the work(menial) Nigeria are supposed to do. They were driven out of Cameroon for that at one time.

Pattey:

Please enlighten me a bit on what you mean by Yuan being devalued deliberately.

Chinese govt have been accused by the top economic govt (Western Europe, U.S., SK and Japan) that they devalue their currency. Devaluation is the reduction in the value of currency that is traded with goods or service. The more that buyers buy from China, technically, their currency is stronger because of the demand, and when demand becomes higher than supply, the price of a commodity shoots up. Using this theory, they devalue their currency to make their products affordable, thus reducing price in commodity.

For instance, if $1 is to 10 Yuan and 5Yuan can buy a phone, it means that with $1, you can buy 2phones. However, when they devalue their currency to say 10% to 15% points, the Yuan will have 11 to 11.5yuans, that extra 1/1.5 can purchase other products or the value to the U.S. currency will be lesser to about $0.90cent which gives more power to buyers. In basic, this is how it works.

0monnakoda: Have you ever been to China? You just sit down and regurgitate what the West tells you about them. People question government activities regularly in China but China is NOT the West they have a different culture. Everything you think you know about China is what the West has told you. I suggest you go and see things for yourself

Many Nigerians speak Mandarin fluently.
Aba importer received a container from China without pre-shipment inspection, and as they were off-loading, some of the crates were filled with old newspapers. 419 in Nigeria is child's play when compared to China.

manny4life:

Chinese govt have been accused by the top economic govts (Western Europe, U.S., SK and Japan) that they devalue their currency. Devaluation is the reduction in the value of currency that is traded with goods or service. The more that buyers buy from China, technically, their currency is stronger because of the demand, and when demand becomes higher than supply, the price of a commodity shoots up. Using this theory, the devalue their currency to make their products affordable, thus reducing price in commodity.

For instance, if $1 is to 10 Yuan and 5Yuan can buy a phone, it means that with $1, you can buy 2phones. However, when they devalue their currency to say 10% to 15% points, the Yuan will have 11 to 11 to 11.5yuans, that extra 1/1.5 can purchase other products or the value to the U.S. currency will be lesser to about $0.90cent which gives more power to buyers. In basic, this is how it works.

Imagine that! They devalue their currency so clandestinely and they want to lead the world economically by becoming an alternative platform to the dollar? I laugh in Mandarin

Ola one:
Would you be happy to live in a country where you or even your lineage is not considered as clever enough to be members of this so-called "elite group of minds"? Would you want to live in a country where you can't aspire just because you are not considered elite, refined and clever enough to do so?

And, forget that notion about poverty in America. Yeah, there are poor people there but it is negligible compared to realities of the lot in China and Russia. Russians are many in UK's construction sites living on peanuts.

Nairalanders love to bash the UK, for example, but, when will China and Russia get to the level of creating social safety net for their citizens? And, I mean one that encompasses the top half of Maslow's Hierarchy of Needs? In the same China where you can't question government activities? Where non-conformists are repressed and oppressed? Where freedom of expression is a foreign expression and people are fiercely gagged? Where Internet activities are monitored and useful and informative sites are blocked?



And, if I may add, you wouldn't want to know the number of Chinese people who are willing to risk an arm and a leg to live in a place like the UK, even as DVD sellers. You will however hardly find a European scavenging in China. Says a lot.

I love ur point, but in a country with a large population it's helpful to practise a system dat doesn't divide d people along political lines. Hence there would be stability in govt. But this does not mean I support China a 100%, gud point u raised anyway...