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

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Oct 10, 2009
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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.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China, and it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

According to the IMF forecast, which was quietly posted on the Fund’s website just two weeks ago, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close.
 
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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.
 
They have like 10 times our population. Only a matter of time before their GDP grows to something that represents that.

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.
 
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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.

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

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

The USA has gone in the opposite direction.

Indeed. And they got that way because we buy their goods, and they in-turn loan us our own money. ;)
 
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.
 
They have like 10 times our population. Only a matter of time before their GDP grows to something that represents that.

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.
....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!!!

emoticon_turd.gif


:woohoo:
 
They have like 10 times our population. Only a matter of time before their GDP grows to something that represents that.

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.

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.
 
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?
 
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?

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.
 
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?

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

My "75% advantage" "eroding" while my salary continues to increase equals a win-win. I am not made worse off by my customers in the neighboring state being made better off.

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?

Pray tell, who benefits from the whole world attempting to "Abandon" the US dollar?
 
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.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China, and it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

According to the IMF forecast, which was quietly posted on the Fund’s website just two weeks ago, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close.

America’s economic collapse shouldn't surprise anyone. What is surprising is that anyone actually ever thought we were rich people. Sure there were and are the very, very wealthy, but they are by no means representative of the majority. What the majority had was its own stratum offering security and comfort theretofore associated only with wealth - the Middle Class.

After suffering through the Great Depression, WWII brought prosperity beyond our wildest dreams, unlike anything experienced before. Jobs were plentiful, wages steady, inexpensive material goods abundant. Almost anything and everything could be had with a little money down and a little each month. And so we bought everything we needed, then everything we wanted and finally we bought everything whether we needed or wanted it.

To the average American, their wealth is measured by how much credit they have. It is not based on their banked capital or the value of owned assets. Living beyond our means which fast became a way-of-life if not an obsession has simply and finally caught up with us and the piper is demanding payments we do not have.

The first reports that Bear Stearns was experiencing economic fractures within its organization should have rung alarm bells throughout the home loan market. Bear Stearns was to the secondary home loan market what Ford was to the fliver.

A large majority of American voters are influenced by self-serving political agendas, which divide and polarize the people against their own interests. This majority blindly supports and rallies for politicians who pervert American idealism using fear and ignorance as a platform to air biased bigoted untrue views. Politics will and has always attracted a lunatic fringe vying for a public office. Historically We the People paid little or no notice to crazy allegations or unsupported indictments.

The people have willingly relinquished the power afforded us in the Constitution and Bill of Rights allowing the government – and especially those whom we elect to public office – total and final control over our futures, our lives and our freedoms. Making this all the more untenable is the reality that none of these supposed representatives know much of anything about the daily lives of those they represent - nor do they give a damn.

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
Abraham Lincoln
 
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EVERY economic superpower in the past has eventually fallen. Not all of them become irrelevant, many of them still have very large economies.

It's arrogant to believe the US will be #1 forever. It sucks, but it's true. Doesn't mean we're all going to be living in a third world nation, I think a lot of people are overreacting.
 
They have like 10 times our population. Only a matter of time before their GDP grows to something that represents that.

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.

And the left is cheering. Amazing, it's like clapping while your home burns to the ground. Hopefully we can get some adults in DC soon.
 
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.

Try to stifle your joy at the prospect of America's demise. You don't want to make your hatred of America too obvious.
 
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.

This is something that I never understood about comparing GDPs for countries as different as the US and China... the exchange rate. The GDP doesn't measure physical production. It measures value of production, which is measured in dollars. But things are worth a lot more in the US than in China. A widget that comes out of a factory in the US might cost $10. The same widget coming out of a factory in China could cost a fraction as much, and so it would add much less to the GDP, even though just as many widgets were made. It's comparing apples to oranges, so I don't really understand what value the comparison has.
 
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.

Thanks to the Democrat party.


With loads of help from their friends and cohorts the Republicans. In truth both Parties are to blame and, as unlikely as I know it is, share responsibility equally. Of course, knowing the principles and ethics of Congress, they'll disavow any knowledge and destroy the tape. But there is no denying the big-shake-down was orchestrated and executed by none other than Bush & Cheney.

But if blaming Democrats for America's economic melt-down keeps your boat afloat on the river of denial, by all means rock on.
 
China is just playing catch up. It was a technological superpower from 200BC-1500AD. With that history it has a lot of serious baggage that limits its potential. At the rate China is destroying its cropland with erosion and its future population base with the one child policy it is on a seriously wrong track, it will go through another reset as deadly as the great leap forward before the decade is out.
 

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