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Post by NHLWinnipeg on Dec 8, 2014 23:03:46 GMT -6
It’s official: America is now No. 2 Published: Dec 4, 2014 11:18 a.m. ET 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. 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 with $17.4 trillion for the U.S.A. As recently as 2000, we produced nearly three times as much as the Chinese. To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S. This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade. I reported on this looming development over two years ago, but the moment came sooner than I or anyone else had predicted. China’s recent decision to bring gross domestic product calculations in line with international standards has revealed activity that had previously gone uncounted. www.marketwatch.com/story/its-official-america-is-now-no-2-2014-12-04
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Post by wolfmannick on Dec 9, 2014 17:35:15 GMT -6
Well they have like all the manufacturing industry now thanks to BS free trade agreements did people think it would have no effect on our economies here?
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Post by Guardian on Dec 11, 2014 19:23:41 GMT -6
Historically, China has always been the #1 economy in the world except for the past century thanks to the industrial revolution.
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