Posted on 09/22/2011 6:57:06 PM PDT by AfricanChristian
America, don't let this happen to you!
IN 2010 CHINA shot past Japan to become the world’s second-largest economy (based on current market prices). But when might it supplant America at number one? The answer depends on how the exchange rates are calculated. The IMF’s forecasts and the long-run tables of GDP compiled by the late Angus Maddison, an economic historian, are based on purchasing-power parity (PPP), which makes allowances for the lower prices of non-traded services in poorer countries. On that basis, the size of China’s economy is already close to America’s and is likely to overtake it by 2016.
China is further behind when its economy is measured in current dollars (and much further in terms of GDP per person). America’s GDP in 2010 was $14.5 trillion at current market prices; China’s was $5.9 trillion. How quickly the gap is closed depends on three things: the relative speed of real GDP growth in China and America respectively; the inflation gap between the two economies; and the rate at which the yuan rises or falls against the dollar.
(Excerpt) Read more at economist.com ...
I’m no economist, so I really don’t understand how this is anything but inevitable. If China has over four times as many people as the U.S. and they trend toward a kind of capitalism, wouldn’t it be expected that their GDP would surpass ours at some time?
Obviously with the US trending away from capitalism, we are expediting the day that their GDP overtakes ours, but it would still seem inevitable.
A command economy overtaking the American free market economy? Never! Of course, if Obama wins another term in office and democraps have their way, it’ll just be one command economy overtaking another command economy, and that’s entirely possible.
This could be a wet dream for Liberals.
nonsense. There isn’t enough raw material on earth for china to have a sustainable middle class. just wait until they start to have aspirations of self determination.
‘How you gonna keep ‘em down on the farm
after they’ve seen Paree (Paris)’
It goes beyond that, really. China is basically a slave colony we'd never be able to have under U.S. law. Better yet -- they're a slave colony that buys our debt!
The day after Obama’s inauguration, he said we would have a market with a ‘government guided invisible hand’, no one else in the room understood what a bad omen that was.
Lets see what didn’t happen:
Japan 80s
Germany 90s
Now China
Bring it
might be true.
But then, it will be like old days...pencils with broken leads and more crap products.
We sent them everything they have.
They can do it a lot faster than that if the American people don't kick this bunch of politicians out of Washington!
DumBO can do it by election day.
No, and I’ll tell you why.
China’s already seeing their workforce shrink. This is the best it’s going to get for them. See Japan for China over the next 10 years.
Didn’t the Soviet Union overtake us for awhile about 40 years ago?
They will have a different number one customer soon.
China is different. China is FAR LARGER then Japan, Germany and even US.
I can remember a time, not long ago, that Spain had a larger economy than China.
I look forward to the day when China's economic clout is no longer foreign in the paradigm of today (or rather the last two centuries). And here is what I mean. China generated a buzz in the media about surpassing Japan to become the 2nd largest economy in the world for fiscal year 2010. But the real buzz between Japan and China occured over 100 years ago, when a tiny country called Japan surpass a traditional world power, China, to become the largest East Asian economy. China's economic rise today, is really her return to the old paradigm.
China is doomed. Last year China spent more on “interntal security” than regular defense. When the peasants and poor workers/unemployed have nothing to lose, they will overthrow their evil thug/commie overlords. Their economy is hollow and collapsing now.
Thousands riot in south China over land grab -report
http://in.reuters.com/article/2011/09/23/idINIndia-59501220110923
Sep 23, 2011
Thousands of people have attacked government buildings in southern China in protest at land sales, a newspaper reported on Friday, the latest outbreak of trouble in the economic powerhouse of Guangdong.
Land Dispute Stirs Riots in Southern China
http://www.nytimes.com/2011/09/24/world/asia/land-dispute-stirs-riots-in-southern-china.html
ANDREW JACOBS September 23, 2011
Rioters in southern Guangdong Province have besieged government buildings, attacked police officers and overturned SWAT team vehicles during protests this week against the seizure of farmland, said officials in Shanwei, a city not far from Hong Kong that skirts the South China Sea.
According to the Web site of the Shanwei municipal government, hundreds of people on Wednesday blocked an important highway while others mobbed the local headquarters of the Communist Party and a police station in the city of Lufeng, injuring a dozen officers. Some witnesses, posting anonymous accounts online, put the number of rioters at more than a thousand.
News of the demonstrations as well as photos and video were quickly deleted by censors although a few images persisted on Friday morning. One showed demonstrators carrying a banner that read “Give back my ancestors’ farmland.” A video shot on cell phone lingered on overturned police vehicles, including one marred with graffiti that read “Running Dogs,” a revolutionary-era insult once directed at perceived enemies of the people.
http://in.reuters.com/article/2011/09/23/idINIndia-59501220110923
James Pomfret Sep 23, 2011
Between 1993 and 2006, the number of recorded “mass incidents” like riots and protests grew from 8,708 to about 90,000, Zhou wrote in the magazine’s September edition. From 2007 to 2009, the number of incidents was consistently above 90,000, he added.
“By and large, the authorities have failed to prevent ... incidents of social unrest from multiplying,” said Nicholas Bequelin, a senior researcher in the Asia division of Human Rights Watch. “The root cause in the countryside is land grabs.”
Signs of China slowdown add to dim global outlook
http://www.forbes.com/feeds/ap/2011/09/23/general-world-economy_8696809.html
ELAINE KURTENBACH 09.23.11
Signs that the powerhouse Chinese economy is slowing have spooked global markets and sharpened fears that the world economy will not escape another recession, so much so that a small, preliminary survey of Chinese manufacturers contributed to a global stock market plunge this week.
In case you’re interested in this thread.
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