Quite frankly, I'm shit scared of China. The other day on the PBS they interviewed an economics mavin about China's emergence as an industrial nation. According to him, China negotiated a joint technology deal with Volkswagen and General Motors that has provided China with all the basic automobile manufacturing technology. Supposably China is now poised to go into the automobile manufacturing business with a labor cost that is one tenth of ours. Within 5 years the Chinese are going to do to our automobile industry what they already did to our textile industry, i.e. stomp it into the ground. If GM, Ford and the various foreign manufacturers operating in the U.S. go down the toilet then what's going to happen to our economy? I wonder if we can keep this country afloat selling each other fast food and life insurance?

Gary