How can we restructure the economy in a way that will sustain economic progress ?

Question

saying that the United States with 5 percent of the worlds people has been consuming a third to 40 percent of the worlds resourse. Today China consumes more of the most basic resourses than does the United States.

Answer 1

these people should pay off their credit card debts and not buy houses that they can't afford.

Answer 2

China's economy expands 8 percent a year it will catch up to the United States in consumption per person by 2031. If China has 3 automabiles for every four people in 2031 its oil consumption will be 99 million barrels a day. The current world production of oil is around 84 million barrels a day - What China is teaching us is what the Western economic model - fossil fuel throw away economy is not going to work for China - not going to work for the United States not going to work for the the progress of the global economy.

Answer 3

It's all about the free market economy.  If left alone, excesses will be driven out and the economy will continue to sustain its own progress.  The US can afford to consume all those resources because of the intellectual resources it produces.  China can't afford to be like the US, because their most important exports are cheap Chinese c**p.  The quality market is wrapped up by US/Japan/Europe... we aren't interested in "quality" products from Africa/China/India.

[edit]  To use a linear trend for growth until 2031 is foolish at best.  All growth follows lead/lag phase behavior and forms an S curve.  At this time, China is certainly in a lead phase.  This will not last.  Economics always wins - the price of energy will rise when it is appropriate (and sometimes when it isn't).