Will China Overtake the US as the Number One Economic Superpower?

Discussion in 'Economy' started by konkon, Mar 5, 2011.

  1. konkon
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    konkon Member

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    The general consensus might be 'yes', but I don't think China will overtake the US as the number one economic superpower, even if China has greater wealth than the United States.

    China will one day have greater net wealth that the US, but it will not control the world's economy the way the US does. One thing that we have learnt over the past few years is even with a financial crisis all eyes still turn to the US to see what the next move is. This will continue and will be strengthened by the US's ability to control, to its advantage, its position in the world's economy. An example of what is going on is the US's ability to put pressure on devaluing its currency, which then helps its exporters. Another side to this effect is a low USD creates inflation around the world (including China) and makes the price of soft and hard commodities to go up. This can have a pricing-out effect on some competing nations.

    Inflation and commodity prices are tied to the US dollar and this gives the US all the advantage it needs to control the world economy as it generally sees fit. China will not be in a position to take this control off the United States and it will try very hard to do so. One reason is because the US has an established foothold in the dynamics of the world's economy and it won't give that up. It will also have a more superior military force than the Chinese, so it can pretty much give them and anyone else the finger if it needs to.

    Another crucial point is that China does not have a key understanding of how a dynamic and sometimes out of control capitalist market works. You just can't go on controlling every aspect of an economy. The US and the west has too much of a head-start in this game. If China frees-up its markets then it will face the prospect of unrest, higher inflation, a very strong yuan (which will kill its exports) and possible revolt by some provinces down the track.
     
    Last edited: Mar 5, 2011
  2. rdean
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    rdean rddean

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    If Republicans have their way, "YES".
     
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  3. Care4all
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    Care4all Warrior Princess Supporting Member

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    no they won't

    they are in the 2nd spot.....

    they were in the 2nd spot 2000 years ago as well.....

    i don't think they will ever make it out of 2nd place//
     
  4. percysunshine
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    percysunshine Gold Member

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    Will China Overtake the US as the Number One Economic Superpower?

    No. The US may, however, fall back to the Chicom level. Libs would love to enable that.
     
  5. skeptic
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    skeptic BANNED

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    Yes, well, they may stay #2 but we can't wipe our butts without their cheap exports.
     
  6. asterism
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    asterism Congress != Progress

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    You've had this talking point for quite awhile.

    What jobs did the Republicans ship to China and why?
     
  7. Mini 14
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    Mini 14 Senior Member

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    Head.....meet sand.

    Yes, they will.

    The only question is what will they allow us to be for them?

    I'm an American (more so than most), but I've never understood our arrogance.

    3000 years of history say otherwise, but for some reason, we think we are special. Different. Superhuman.

    Follow the money.

    You'll find your true Superpower.
     
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  8. asterism
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    asterism Congress != Progress

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    You are fine to have a different opinion, but do you really think that anyone who disagrees with you has their heads in the sand?
     
  9. Polk
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    Polk Classic

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    Depends on what we mean by "economic superpower". Will China have the world's highest amount of output? Absolutely. That's to be expected when you're the largest country on the planet. Even at that point though, per capita incomes in China being about what they are in Brazil.
     
  10. Toronado3800
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    Toronado3800 VIP Member

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    Superpowers come and go historically. Ask Britain Spain and Rome. China has been there in the distant past. Perhaps again.
    The economic and political balance of the last 70...100 years is due to the two catastrophic European wars and the decade long war between Japan and China.

    Thanks to size, geographic isolation and our ability to cull talent from the rest od thw world's countries we ended up on top by 1945. Benefit to not killing our Jews accepting immigrants and not having the war fought in our economic bread basket.

    Now the world is recovering. 300 million Americans on xx% of the world's surface may have to count on some intangibles to dominate the other 6 billion humans across the globe.

    A readjustment to some kind of 1911 or 1935 level is to be expected. Hopefully we can out perform that.

    Hopefully as other countries rise and can flex regional muscle my kid doesnt get tied up fighting a goofy war over Croatia or Taiwan which will break us. Hopefully we can maintain a decent standard of living like England has after their run ended instead of having a collapse like the European Dark ages or historical China has.
     

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