Posted on 12/04/2014 6:42:48 AM PST by Oldeconomybuyer
There’s no easy way to say this, so I’ll just say it. We’re no longer No. 1. Today we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is no longer the leading economic power on the planet.
It just happened — and almost nobody noticed.
The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared to $17.4 trillion for the U.S.A.
(Excerpt) Read more at marketwatch.com ...
How much of this “wealth” consists of empty cities and vacant shopping centers?
We’ve been a huge #2 since 2009.
When your pResident and Congress are all #2’s it is inevitable that you circle the bowl too.
I was thinking the same thing. So many firsts attached to our first "community organizer" president. Let's not forget, first president to have never held an actual job before becoming a politician.
Are you talking about that huge, steaming, pile of $#!+ sitting in the White House?
obama must be ecstatic
All bad smells have to originate from somewhere. ;)
Your article is absolute nonsense.
IMF shows the US GDP to be $16,768,050 million and China to be $9,469,124 million for 2013.
The article does not compare relative GDP:
“These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates.”
Yes but we are striving to be and may already be the number one communist nation.
The data you use is driven by population and actual economic strengths. That is why India is number three on the list with a population of 1.2 billion people and China has a population of 1.35 billion.
The US only has 319 million people or less than 1/4 the population of China.
In China, 1.2 billion of the people are existing by selling rice to each other.
I’ve read that only 300-400 million people in China have participated in their new economy, leaving 800-900 in poverty.
This is not nominal GDP. Nominal GDP is the one more often quoted and noted. Nevertheless, just one more milestone on the way to mediocrity.
Obama kept his word. The communist promised CHANGE, and he delivered. China has passed us because their leaders are better capitalists than our pathetic and corrupt excuse for a leader.
Exactly.
I’m not buying this adjusted data stuff.
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