[quote]
China's economy will be bigger than the U.S. economy by 2016, [URL="http://www.cnn.com/2011/BUSINESS/04/26/us.china.economy/index.html"]says the IMF[/URL], using a special measure of economic size called "purchasing price parity."
Measured in dollars, the U.S. GDP will still be 70% bigger than China's by then, but the trend is unmistakable: At some point, barring a wreck of China's economic freight train, China will eclipse the U.S. to become the largest economy in the world.
[I]
What will this mean?[/I]
Well, psychologically, it will mean that Americans will have to get used to the idea that they're not the biggest kid on the block anymore. For most participants in the global economy, China will have become the most important trading partner and market, and China's economic policies, not America's, will dominate the global conversation.
Similarly, and perhaps more momentously, China's military will eventually be larger than the U.S.'s, which will mean the U.S. will no longer be the most powerful country in the world. It's easier to have influence over other countries when you can speak softly and carry a big stick. Once China vaults past the US economically, it will have the wherewithal to carry an even bigger stick--unless the US wants to continue to bankrupt itself by outspending everyone else despite its smaller GDP.
Adding to the change in fortunes is the fact that America's financial situation is vastly weaker than China's: We have a huge deficit and massive debts; China, meanwhile, funds our consumption (by lending us money) and runs a surplus. Over the next couple of decades, therefore, much of the US resources that might have gone into growth and infrastructure spending, will be used instead on interest payments, budget cuts, and social programs. This will likely make the US feel poorer, especially relative to the explosive growth in China.
Regardless of when the exact date comes, in other words, we're headed for a new world order--one in which China, not America, will be the center of the world.[/quote][URL]http://finance.yahoo.com/blogs/daily-ticker/age-america-end-2016-china-blows-past-us-154221921.html%20?sec=topStories&pos=2&asset=&ccode=[/URL]
homefront anyone?
More fearmongering? Not surprising.
:supaburn:
The worlds best country mug, created by Britain during the 1800s served the empire well, when the second world war ended it decided to hand the mug over to America. America now is having to pawn the mug to the Chinese.
Not really news. This has been happening for quite some time.
BACK IN NAM.
[QUOTE=Tac Error;29447830]More fearmongering? Not surprising.[/QUOTE]
:whip:
[QUOTE=Sobotnik;29447894]The worlds best country mug, created by Britain during the 1800s served the empire well, when the second world war ended it decided to hand the mug over to America. America now is having to pawn the mug to the Chinese.[/QUOTE]
Oh baby
I'm not too worried, after all these kinds of economics shifts happen all the time. Hell, the middle-east used to be one of the strongest areas in the world thousands of years ago. Look at them now.
Oh no! We won't be the most powerful anymore! How the fuck will we get by without the entire world revolving around us! IT'S THE APOCOLYPSE! WE WON'T BE ABLE TO BRAG AND BE CONCEITED AS MUCH! WE WON'T BE THE MAIN CHARACTER IN THE WORLD! CATS AND DOGS LIVING IN HARMONY!
19th century belonged to Britain, 20th to the USA, and now China will be holding the reigns. It's really a cyclical thing but doesn't mean that there isn't anything to worry about (moreso, really).
[QUOTE=Shadowstone;29448031]19th century belonged to Britain, 20th to the USA, and now China will be holding the reigns. It's really a cyclical thing but doesn't mean that there isn't anything to worry about (moreso, really).[/QUOTE]
22nd century will have North Korea as world power.
I find it hard to take an article seriously when whoever wrote it didn't know it's called purchasing power parity and not purchasing price parity.
[QUOTE=FPSMango;29447936]I'm not too worried, after all these kinds of economics shifts happen all the time. Hell, the middle-east used to be one of the strongest areas in the world thousands of years ago. Look at them now.[/QUOTE]
Pretty damn rich with all the oil now.
[QUOTE=Sobotnik;29448071]22nd century will have North Korea as world power.[/QUOTE]
This will happen by North Korea bringing Kim jong il back to life after freezing him for 100 years.
The US is still one of the best countries to live in. Unlike China.
Funny how America and China are huge and full of resources yet Britain is tiny and had hardly any resourced but managed to make it big.
[QUOTE=Canary;29448276]Funny how America and China are huge and full of resources yet Britain is tiny and had hardly any resourced but managed to make it big.[/QUOTE]
Britain got most of it's power through slavery bro.
[QUOTE=Laserbeams;29448187]The US is still one of the best countries to live in. Unlike China.[/QUOTE]
The portion of my mom's family living on the Mainland think otherwise.
[QUOTE=Canary;29448276]Funny how America and China are huge and full of resources yet Britain is tiny and had hardly any resourced but managed to make it big.[/QUOTE]
slavery and the commonwealth drove the british empire
Will it lead to less american exceptionalism?
american exceptionalism doesn't exist anymore
Don't worry guys, we know how you feel.
Sincerely, Britain.
[QUOTE=Bobie;29448470]slavery and the commonwealth drove the british empire[/QUOTE]
It got them pretty damn far, too :v:
[QUOTE=Canary;29448276]Funny how America and China are huge and full of resources yet Britain is tiny and had hardly any resourced but managed to make it big.[/QUOTE]
Resources are resources, it does not matter where they are. What matters is being able to project the power necessary to control them.
Right now for instance, the only reason China hasn't taken over control of oil resources is because the US, not China, can project power into the OPEC countries(wherever they are).
So it'd take two things for China to become dominant- they have to build the ability to project power worldwide AND the US needs to lose the power to do the same. If we both have the same or similar power then it'll just be a replay of the US/Soviet struggle to dominate, where one side would have part of the world and the other side would have the other part. Even then it's okay as long as you have the good half.
[QUOTE=Tac Error;29448381]The portion of my mom's family living on the Mainland think otherwise.[/QUOTE]
Whatever it is so bad in Mainland, it's not as bad as 20 hours a day of labor at the iPhone factory.
[QUOTE=cecilbdemodded;29448673]Resources are resources, it does not matter where they are. What matters is being able to project the power necessary to control them.
Right now for instance, the only reason China hasn't taken over control of oil resources is because the US, not China, can project power into the OPEC countries(wherever they are).
So it'd take two things for China to become dominant- they have to build the ability to project power worldwide AND the US needs to lose the power to do the same. If we both have the same or similar power then it'll just be a replay of the US/Soviet struggle to dominate, where one side would have part of the world and the other side would have the other part. Even then it's okay as long as you have the good half.[/QUOTE]
well china is trying to extend its reach into resource-rich areas in africa, with varying degrees of success
[QUOTE=Laserbeams;29448731]Whatever it is so bad in Mainland, it's not as bad as 20 hours a day of labor at the iPhone factory.[/QUOTE]
I like how you as a person not living in China, is trying to describe the Chinese life to a person living in China.
Edit: Also 20 hours a day labour sounds very unreasonable.
[QUOTE=Tac Error;29448381]The portion of my mom's family living on the Mainland think otherwise.[/QUOTE]
say Tienanmen Square
whoop suddenly living in china aint so nice now issit
[QUOTE=Laserbeams;29448731]Whatever it is so bad in Mainland, it's not as bad as 20 hours a day of labor at the iPhone factory.[/QUOTE]
living in china is better than living in russia or any of the former soviet countries.
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