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China's Economy Will Overtake US In The Next Four Years, Says OECD
TBI = The Guardian ^ | 11-9-2012 | Josephine Moulds

Posted on 11/09/2012 4:01:29 AM PST by blam

China's Economy Will Overtake US In The Next Four Years, Says OECD

Josephine Moulds, The Guardian
November 9, 2012

China will overtake the US in the next four years to become the largest economy in the world, says a leading international thinktank.

The Paris-based Organisation for Economic Co-operation and Development (OECD) said China's economy will be larger than the combined economies of the eurozone countries by the end of this year, and will overtake the US by the end of 2016.

Global GDP will grow by 3% a year over the next 50 years, it says, but there will be large variations between countries and regions. By 2025, it says the combined GDP of China and India will be bigger than that of France, Germany, Italy, Japan, UK, US and Canada put together. Asa Johansson, senior economist at the OECD, said: "It is quite a shift in the balance of economic power we are going to see in the future."

Inequalities will persist, even though people in the poorest countries will see their income more than quadruple by 2060, with those in China and India seeing a more than a seven-fold increase. By 2060, the OECD says living standards in the emerging countries will still only be 25%-60% of the level enjoyed by those in the US.

Global imbalances, which created the conditions for the crash of 2007, will continue to widen and reach pre-crisis levels by 2030, it said. In the short term, this is largely a cyclical effect of the financial crisis. So the US, which had a large budget deficit before the crisis, experienced a sharper downturn than China, which had a budget surplus.

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: china; economy; eu; growth

1 posted on 11/09/2012 4:01:39 AM PST by blam
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To: blam

Maybe, but our CEO’s who send American jobs there for lower wages will be able to afford 5 vacation homes instead of just 2, so it all works out in the end.


2 posted on 11/09/2012 4:06:13 AM PST by Wolfie
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To: blam

With our Communist president in office for four more years, it may not take that long.

There is a conservative consumer strike taking place that will bring things to a head sooner than the “experts” think. In our family, the only Christmas gift this year will be getting together. Since we are far-flung and gas will be $4 by the holiday driving season, that will be expensive enough. No, we don’t fly any more, due to the government’s TSA goons at our airports.


3 posted on 11/09/2012 4:12:52 AM PST by txrefugee
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To: blam

After this past Tuesday, Ecuador’s economy will overtake us in 4 years...


4 posted on 11/09/2012 4:17:58 AM PST by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: txrefugee
"There is a conservative consumer strike taking place that will bring things to a head sooner than the “experts” think"

Conservative America Goes Galt....watch for this headline.

5 posted on 11/09/2012 4:24:32 AM PST by blam
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To: blam

Kill America from within, blame Capitalism, point to China and tell the world central planning works. Americans are too stupid to see how simple it is to fool them.


6 posted on 11/09/2012 4:27:12 AM PST by bmwcyle (Women reelected Obama)
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To: Wolfie

“Maybe, but our CEO’s who send American jobs there for lower wages will be able to afford 5 vacation homes instead of just 2, so it all works out in the end.”

If I was a CEO I would do it today.

Americans want to vote for a commie to punish business, why not go where the commies actually like capitalism?

America is still a nice place for a summer home.


7 posted on 11/09/2012 4:27:25 AM PST by VanDeKoik
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To: txrefugee
That's a good idea. We ought to all just go on 'strike' and stop feeding 'the beast' with our tax dollars...go ahead and crash it sooner rather than later.

Ron Paul: Election Shows U.S. 'Far Gone'

8 posted on 11/09/2012 4:27:45 AM PST by blam
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To: blam
I just returned last week from China (trip #6 over the last twenty-three years). If you had not seen the huge, huge improvement in their economy, you would not believe it.

The thing I took away from this latest trip: As China becomes more and more capitalist, and less and less Communist, the more prosperous its people become. As the United States becomes more and more Communist, and less and less capitalist, the less prosperous its people become.

The numbers bear me out.

9 posted on 11/09/2012 4:30:38 AM PST by sima_yi ( Reporting live from the far North)
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To: VanDeKoik
f I was a CEO I would do it today.

Americans want to vote for a commie to punish business, why not go where the commies actually like capitalism?

America is still a nice place for a summer home.

Nice. At least our troops aren't dying for nothing. Somebody should tell our soldiers they don't owe anything to their country anymore, just like the CEO's.

10 posted on 11/09/2012 4:41:13 AM PST by Wolfie
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To: blam

Setting the issue of timing aside, the gist is as it should be assumed to be. It is rational and reasonable to predict that a country with a massive population that seeks growth will have an economy larger than a smaller populated country or group of countries. That event is predictable inspite of recent historical norms.

The fact that many over look or do not want to see is that in many places, especially China and India, there were political restraints to economic growth that are loosened or gone.

The irony is that while the people of India and China are feeling the loosening of economic restraints, in America the people have voted to impose them. The American revolution of 1776 has been captured and trashed in precisely the same manner as the Russian Revolution of 1917. At some point there will be blood on American streets as the bindings become unbearable.

The next civil war is shaping up precisely between the same combatants. The blue zone is populated by Utopian thoughts by those afraid to go west and prosper and those in the west who’s prosperity is coveted by the frightened malingerers. The breakup is inevitable.


11 posted on 11/09/2012 4:42:43 AM PST by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: Wolfie

Honestly why would anyone in the USAF want to stick around?

The “country” has stabbed both the soldier and the business owner in the back.

It’s like asking someone to build a company on, and someone to defend with their life, an island made of mud because it once was a beautiful place.


12 posted on 11/09/2012 4:48:54 AM PST by VanDeKoik
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To: sima_yi

You must remember that to many here, change, that is a revision to all aspects of the status quo, can not be understood.

Since Mao defeated Chang Kai Shack and made China a miserable place, China must remain a miserable place. There can be no allowance for the reasonable assumption that the people of China didn’t really like to live in chains and shackles.


13 posted on 11/09/2012 4:50:59 AM PST by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: VanDeKoik

Exactly. These companies that have no more need for the U.S. should get the Chinese Army to defend their interests around the world, instead of draining our blood and treasure to do it. If Patriotism is fungible, let the Chinese cover the tab.


14 posted on 11/09/2012 5:01:36 AM PST by Wolfie
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To: blam

it will never happen


15 posted on 11/09/2012 5:02:14 AM PST by dalebert
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To: Wolfie

It’s how the market works. You minimize costs, especially in the face of a rat presidency.


16 posted on 11/09/2012 5:24:14 AM PST by ABQHispConservative
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To: Wolfie

Corporate suits are the scum of the earth, and not to be worshipped as so many naive Freepers would have us believe. I know them from my days working my way up the food chain in Big Pharm. They are the minions of corruption. I can’t emphasize that enough.

Common perception is just now catching up with reality.


17 posted on 11/09/2012 5:34:43 AM PST by warchild9
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To: blam

Swaziland’s economy will overtake us in the next four years.


18 posted on 11/09/2012 5:41:06 AM PST by dfwgator
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To: sima_yi

My wife just returned from a business trip to Singapore, Hong Kong, and Seoul. She says it was astonishing, how advanced they are and how pathetic the United States has become.

And, yes, she went to visit American clients who’ve screwed us by moving their businesses to slave labor countries. They’re flourishing, with 20% rates of growth, and better. Even their worker drones are doing better than ever before.

Now, she wants to move to Singapore (she was born and raised in Cuba). I’m thinking Switzerland, after I finish the loooong process of obtaining tenure.


19 posted on 11/09/2012 5:41:35 AM PST by warchild9
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To: ABQHispConservative

I hear ya, but somebody should tell our troops they’re fighting for the Chinese to have a better standard of living.


20 posted on 11/09/2012 5:42:08 AM PST by Wolfie
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To: Wolfie

There’s no draft.

My daddy, a veteran of 25 years in the Marine Corps, taught me that volunteers get what they asked for. He ought to know.

Any young person joining the military now HAS to understand they’re going to fight for the Big Money, not “freedom.”

That’s cold, but it’s reality.


21 posted on 11/09/2012 5:44:57 AM PST by warchild9
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To: bert

There will be no “civil war” as long as television is filled with sports Sports SPORTS!!!!


22 posted on 11/09/2012 5:46:21 AM PST by warchild9
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To: warchild9

Mandatory military service would go a long way toward enlightening the electorate. Which is one reason we’ll never see it.


23 posted on 11/09/2012 5:51:05 AM PST by Wolfie
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To: blam

I believe we are going to see what would have happened to the U.S. if Jimmy Carter was reelected. THEY SHOULD HAVE WATCHED 2016!!


24 posted on 11/09/2012 5:52:42 AM PST by mulder1 ("The past is prologue.")
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To: Wolfie

After these results, we should bring ALL our boys and girls home. Their votes matter more than any “conservative” that stayed home and let 0 et al. have at least 2 more years to screw this country. Let the euros pay for their own defense!


25 posted on 11/09/2012 6:07:42 AM PST by ABQHispConservative
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To: txrefugee
We'll be starving the beast because it's starving us. No Christmas buying here. No wedding buying either since I marked off that person from my friendly acquaintance list after hearing they voted for hussein again. No apologies, I'm whittling down those people who take from me with their freebies and their stupidity.
26 posted on 11/09/2012 6:40:29 AM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: blam
News flash:

Red China's Communist Party finally admitted that it's going to take a wee bit longer to overtake the U.S. and be Number One.

After 164 successive weeks of promising that it would be next Tuesday afternoon (about tea time) Red China and Her devoted American corporate followers today put the date as much as four years in the future.

Western corporations are urged in the meantime to keep on trucklin' and keep on keepin' on sending that technology, intellectual property, and FDI to Red China -- Red China's 1.4 billion upper-class income and upper-middle-class income citizens all await the day when they can purchase trillions of dollars of Western goods, said a Red China Communist Party Central Committee spokesman.

27 posted on 11/09/2012 6:42:58 AM PST by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: Wolfie

It would certainly save some money.


28 posted on 11/09/2012 6:54:14 AM PST by warchild9
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To: sima_yi
I just returned last week from China (trip #6 over the last twenty-three years). If you had not seen the huge, huge improvement in their economy, you would not believe it.

I remember my trip to Beijing late 2010 ...I was not expecting that. Shanghai is even more advanced in terms of infrastructure. Interesting as well is the fact that many of the people are really capitalistic ...it is just the government that is communist, and even then it appears more and more that they are communist in name only.


29 posted on 11/09/2012 7:32:23 AM PST by spetznaz (Nuclear-tipped Ballistic Missiles: The Ultimate Phallic Symbol)
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