Free Republic

Comparative Economies: This just in from the International Monetary Fund: China could pass the United States as the world's largest economy as early as 2016. With all due respect, the IMF has it wrong again. A new IMF report blithely forecasts that the "Age of America" will end as the U.S. economy is overtaken by China. And on the surface, it's tough to argue the point. Officially, China's GDP is growing at 10% while ours is expanding at about 3%. At those rates, China's economy doubles every seven years, America's about every 24. But such forecasts are based on a...