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 ...
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.
There will be no “civil war” as long as television is filled with sports Sports SPORTS!!!!
Mandatory military service would go a long way toward enlightening the electorate. Which is one reason we’ll never see it.
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!!
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!
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.
It would certainly save some money.
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.
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