Next US President will be the last to preside over the world’s largest economy

Discussion in 'Economy' started by KissMy, Apr 29, 2011.

  1. KissMy
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    KissMy Free Breast Exam

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    According to the IMF forecast: Whoever is elected the next U.S. president will be the last to preside over the world’s largest economy.

    IMF bombshell: Age of America nears end. China’s economy will surpass the U.S. in 2016.
     
    Last edited: Apr 29, 2011
  2. digger
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    digger Member

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    They have like 10 times our population. Only a matter of time before their GDP grows to something that represents that.
     
  3. KissMy
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    KissMy Free Breast Exam

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    They have about 4 times our population, but don't let the facts get in the way.

    In a 15 year period they will have risen from 3rd world poverty to #1 world power.

    The USA has gone in the opposite direction.
     
    Last edited: Apr 29, 2011
  4. The T
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    The T George S. Patton Party Supporting Member

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    Indeed. And they got that way because we buy their goods, and they in-turn loan us our own money. ;)
     
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  5. Epsilon Delta
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    Epsilon Delta Jedi Master

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    Before getting swept up in the panic, people should take this story with a few caveats. The paragraph on PPP is very important, and while they make a good point, nominal GDP is still considered the "actual" measure of comparison for economies internationally: The fact is that PPP is more useful domestically, it is an adjustment to control for price differences between countries. For example, the equivalent of 1 USD in China will buy you a hell of a lot more than in the US, hence, if you're trying to look at more of a poverty-related context, using per capita GDP at PPP is more useful than looking at nominal GDP. But in terms of the actual economic power of a country at the world level, nominal GDP is more useful and "standarized."

    With that said, if you compare nominal GDP, the US economy is still about 2.5 times the size of China's, and it will still be at least 1.5-2 times larger than China's in 2016, even if the renminbi undergoes a sharp appreciation (which will only happen over the Communist Party's body, apparently) - and that in itself could have serious repercussions for China's future growth. The second caveat is just that, that there's a lot of uncertainty of what kind of future lies for China, it's economy is at risk of overheating, and it's authoritarian nature make instability a very real possibility especially since they're between a rock and a hard place - between maintaining the regime's legitimacy by providing growth and therefore jobs vs. slowing the economy down in order to make it sustainable in the long-term and avoid massive bubbles that could wreck growth and therefore undermine regime legitimacy.

    The point is that one shouldn't get too caught up in this sort of news, they're headline grabbers which reporters love, but again, he misses very important questions in the analysis that would take off the edge to the "OH MY GOD, IT IS THE END OF AMERICA" storyline.
     
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  6. Mr. Shaman
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    Mr. Shaman Senior Member

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    ....Primarily because Teabaggers have decided Priority #1 (for the Country) is birth-certificates!!
    (....With Jerry Springer running a close 2nd.)

    Let's hear it, for....

    .....The Republican Brand!!!

    [​IMG]

    :woohoo:
     
  7. editec
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    editec Mr. Forgot-it-All

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    America actaully did worse than just going in the opposite direction, K.

    It went from the world's wealthiest creditor nation to the world's largest DEBTOR nation in the last 40 years.

    What policies do we have to thank for that?

    FREE TRADE AGREEMENTS
    INSANE TAX LAWS
    WARS OF EMPIRE

    Which parties do we have to thank for those?

    The DEMOCRATIC AND REPUBLICAN parties.
     
  8. 8537
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    yes, sometime in the next decade the people of China will reach a point where they are 25% as wealthy as the people in America.

    Can someone remind me why I'm supposed to be scared by the fact that a person in China earns 25% as much as me?
     
  9. editec
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    editec Mr. Forgot-it-All

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    Because with the decline is national solvency, so too will your 75% advantage erode.

    And with the abandonment of the USD as the world's international currency, we're informed that that decline in quality of life will happen rather too quickly for millions and millions of Americans (read about 95%) to do anything about it, too.

    When the wolf finally arrives at your door?

    Then you'll possibly understand that pretty much everything you've been told by the D and R masters was a freaking LIE.
     
  10. FuelRod
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    FuelRod Gold Member

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    I could be wrong but I just don't see this country switching to a Monarchy.
     

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