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CHINA is about to overtake the United States as the world's biggest economy, creating profound changes in the balance of global power.
In forecasts inserted quietly on its website in recent days, the International Monetary Fund has projected that, by 2016, China will overtake the US in real economic output - the first time in the modern era that any country has done so.
Economic historian Angus Maddison estimated that the Soviet Union at its peak produced only a third as many goods and service.
The US would still be the world's biggest market. If China keeps its currency heavily undervalued, as it is now, the IMF projects that, in nominal terms, by 2016 the US economy will still be two-thirds larger than China's.
But this gap would simply reflect currency values. Factor in relative prices, and China's real output of goods and services would be the world's biggest.
Originally posted by Max_TO
" The US would still be the world's biggest market. If China keeps its currency heavily undervalued, as it is now, the IMF projects that, in nominal terms, by 2016 the US economy will still be two-thirds larger than China's.
how does it make you feel and how do you see the world change as a result of this , assuming it does happen as reported ?
Originally posted by SLAYER69
I'm not personally worried.
I still have my home, health and various bottle of spirits.
Originally posted by neo96
just think people we made this possible
by us buying all their cheap crap
by the government borrowing its way into oblivion
without us china wouldnt be where they are.
yet another country america built.
we work for china now as slave labor every tax dollar we get comes from china
aint american grand?
not really it just shows us how stupid this country has become.
its our own fault for not stopping our insane government.
and i hate it.edit on 24-4-2011 by neo96 because: (no reason given)
Originally posted by MikeBoss
Wal-mart will not exist without Chinese cheap product, let me ask you a question, are you willing to pay 50 dollar on a shirt made in America or 10 dollar shirt made in China?
So which is it? Last time I checked, Americans are not the ones working terrible hours with few benefits in factories to supply China with cheap crap.