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Spacecraft launching into space
China celebrates another successful manned shuttle launch into space

China successfully launched its Shenzhou VII spacecraft into orbit last night, with three Chinese astronauts ready to carry out the country's third manned space mission.

During the scheduled three-day mission in space, China ground officials expect the taikonauts to carry out the ambitious space program's first space walk.  Furthermore, a different astronaut will wear a reported $4.4 million space suit that was designed and manufactured in China with no help from foreigners.

The taikonauts will share a 14-cubic-meter workspace while in space, which will be the same amount of cramped space two taikonauts shared during the Shenzhou 6 space mission.

The Chinese government is investing billions of dollars into a space program that has developed quickly and has had three manned launches in the past five years.  China plans to create its own space station by 2020, and hopes to put a man on the moon shortly thereafter.

The military-operated space program last year launched a lunar probe, which was the first step of a three-part operation for China to head to the moon.  NASA also has plans to return to the moon by 2020, although uncertainty over the development of Orion has made observers question if the United States will be able to make it back to the moon in 12 years.

NASA Administrator Michael Griffin previously admitted China is more likely to return to the moon before anyone else.

The United States and Russia remain the only two nations to conduct spacewalks, and China joining the list will be historic, government officials said in a prepared statement.



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RE: Well...
By Ringold on 9/26/2008 9:59:49 PM , Rating: 3
I'd like to see any other country easily be able to sneeze $700b. We don't even have to worry about being able to afford that kind of short term outlay, we simply worry over how it's deployed. That's 5% of our GDP; for China, that sum would be 22%. They might be able to pull that off, but they'd gag pretty hard in the process. Also, don't confuse Wall Street with Main Street just yet; compare our unemployment with the Euro-zone and tell me who is "unraveling."

The rumors of America's demise are being greatly exaggerated.


RE: Well...
By Min Jia on 9/26/2008 10:24:17 PM , Rating: 2
Don't forget China owns the US.


RE: Well...
By Ringold on 9/27/2008 12:07:03 AM , Rating: 1
Don't forget that ownership of which you vaguely refer to, treasury securities, is next to meaningless. Japan actually holds more anyway, and Europe collectively probably holds more than China as well.

Next baseless paranoid fear?


RE: Well...
By Min Jia on 9/27/2008 12:11:46 AM , Rating: 2
Used to be Japan, but not any more LOL. Japan has reduced their holdings already. China is the biggest creditor of the US right now. You need to update yourself. Also, who do you think is going to finance your 700b for you? China and other countries.


RE: Well...
By Ringold on 9/27/2008 11:49:29 PM , Rating: 2
I hate when people mount their horse as if they know something I don't.

http://www.ustreas.gov/tic/mfh.txt

Wikipedia also has similar data.

Check your own data next time before telling me to check mine, eh? Google isn't exactly a complex instrument to use.


RE: Well...
By Min Jia on 9/27/2008 12:25:01 AM , Rating: 2
Oh, and don't forget China has US 1.8 trillion crash in foreign reserve, in addtion to the 400b in US Treasury bills.


RE: Well...
By Ringold on 9/27/2008 11:58:32 PM , Rating: 1
1.8 trillion, out of 7.6 trillion total. Relevance?

It doesn't make a lot of sense why people fear this. A lot of countries use USD on the side, but only one main country uses it exclusively, and that is America. Those dollars ultimately must, therefore, just find there way back in to our economy at some point or another, as that is all they are useful for.


RE: Well...
By foolsgambit11 on 9/27/2008 3:02:07 PM , Rating: 1
Yeah, the fear is a little paranoid. But the issue is real. The issue, however, is with the American people and the American government, not with China. It doesn't matter who your creditor is until you default. If Americans (as individuals) could save, we could finance much of our own debt. If America (as a government) could save, we could pay off the debts. China is nothing but an enabler for American spendthrifts.

Blame the gambler, not the house.


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