Note that the vertical axis range changed between the two graphs. This is analyst “spin” on numbers, to show relative size among economies.
The more important point of the graphs is really that the world economy GREW so much that the value of the U.S. economy has MORE THAN DOUBLED in these 22 years. And we think we’ve had a bad run!
Yes, China grew.
Another more important graph would be GDP per Head, in which dividing that Chinese GDP by over 1 billion people still leaves them relatively poor.
China can keep copying us, like the Japanese did for a long time. And, the Chinese can surpass us in some things like the Japanese do. But there is only one leading economy in the world, and if we don’t let the likes of 0bama screw it up for an additional 4 years, we can remain on the top of the heap just fine, while we more than double in the next 22 years!
Optimism, folks!
ditto if Romney (God forbid) comes to power
As our welfare and entitlement state expands, our core spirit that made us great recedes...