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.
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(Excerpt) Read more at businessinsider.com ...
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.
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.
After this past Tuesday, Ecuador’s economy will overtake us in 4 years...
Conservative America Goes Galt....watch for this headline.
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.
“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.
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.
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.
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.
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.
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.
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.
it will never happen
It’s how the market works. You minimize costs, especially in the face of a rat presidency.
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.
Swaziland’s economy will overtake us in the next four years.
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.
I hear ya, but somebody should tell our troops they’re fighting for the Chinese to have a better standard of living.
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