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It’s official: America is now No. 2 (China Biggest Economy)
MarketWatch ^ | December 4, 2014 | Brett Arends

Posted on 12/04/2014 8:49:50 AM PST by C19fan

Hang on to your hats, America.

And throw away that big, fat styrofoam finger while you’re about it.

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 not the leading economic power on the planet.

It just happened — and almost nobody noticed.

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


TOPICS: Business/Economy; Foreign Affairs
KEYWORDS: china; economy
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To: precisionshootist

“I watched a show a couple days ago that was just talking about the biggest, tallest, whatever. When it came to roads and bridges I was shocked to see the number of super high, super long bridges built by China in the last few years. They now have like five of the highest bridges in the world, all built recently. Structures like this can’t be built by weak nations.”

Yeah, but it is all made in China. Have you ever owned anything made in China? Chances are you no longer own it and had to throw it out.


21 posted on 12/04/2014 10:08:25 AM PST by rey
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To: C19fan
The is bull. The IMF uses output in “real” terms of goods and services, meaning what would be the purchasing power of China adjusted for higher prices of the US. There is some validity to this but there are numerous (I think six) adjustments to make to GDP to equalize output which the IMF ignores. The biggest one is artificial lending often found in tightly controlled countries. China pumps the vast majority of lending into failing and stale state businesses. The IMF does not adjust for this.
22 posted on 12/04/2014 10:36:18 AM PST by 11th Commandment ("THOSE WHO TIRE LOSE")
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To: 11th Commandment

Nominal GDP:

1 United States 16,244,600
2 China 8,358,400
3 Japan 5,960,180
4 Germany 3,425,956
5 France 2,611,221
6 United Kingdom 2,471,600
7 Brazil 2,254,109
8 Russia 2,029,812
9 Italy 2,013,392
10 India 1,875,213


23 posted on 12/04/2014 10:40:05 AM PST by 11th Commandment ("THOSE WHO TIRE LOSE")
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To: precisionshootist
Years ago I did some research on the capacity of dams. It turned out that the most recent dams, the biggest in the world, were all in the Soviet Union. Reason: their rivers are bigger than ours. I suspect that Chinese bridges are setting world records because they have huge rivers. However, the fact that they can build them does imply considerable competence on their part.
24 posted on 12/04/2014 10:40:30 AM PST by JoeFromSidney (Book: RESISTANCE TO TYRANNY. Available from Amazon.)
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To: PilotDave

Is that Obama ‘GDP’ or REAL GDP? They’ve been cooking the books by including debt as part of the total. Real GDP growth has been negative since the Communist/Mozlem took power.


25 posted on 12/04/2014 10:43:28 AM PST by Nateman (If liberals are not screaming you are doing it wrong!)
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To: C19fan

Thank you, Emperor Obama.


26 posted on 12/04/2014 11:13:38 AM PST by Blood of Tyrants (Good Muslims, like good Nazis or good liberals, are terrible human beings.)
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To: JoeFromSidney
"Years ago I did some research on the capacity of dams. It turned out that the most recent dams, the biggest in the world, were all in the Soviet Union. Reason: their rivers are bigger than ours. I suspect that Chinese bridges are setting world records because they have huge rivers. However, the fact that they can build them does imply considerable competence on their part."

Exactly, I'm not saying we should have the highest bridges as we don't have a need for them. What I'm saying is just the fact that China has the economic power to accomplish these feats is evidence they are on the rise big time. Contrast that to what is going on in the US. What colossal structures are we building? Power plants?, nope we are shutting those down. Mines? nope again, shutting those down. Space program? well we are working on self esteem for the Muslims with that. What about that border fence? Any small group of farm hands could have built more fence in the same time frame.

27 posted on 12/04/2014 12:25:47 PM PST by precisionshootist
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To: C19fan

Thanks are due the Marxist Obama and his never-saw-a-business-restriction-we-couldn’t-love Democrat congress.


28 posted on 12/04/2014 2:47:15 PM PST by Jack Hammer
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To: C19fan

I can believe it but at the same time there have been stories like this (China looks bad, Europe looks worse)...so how can this be? Btw, got this one off of Freerepublic, just down the ways from this China is now #1 thing. http://www.businessinsider.com/r-euro-zone-risks-return-to-contraction-china-outlook-smoggy-2014-12


29 posted on 12/04/2014 3:09:50 PM PST by Beowulf9
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To: Beowulf9

I wonder when China will finish the Sky City arcology? (Large skyscraper with farms, malls, condos, etc. all contained inside).


30 posted on 12/05/2014 9:30:12 PM PST by Morpheus2009
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