crankthskunk
Chief Minister (5k+ posts)
[h=2]Bad news for Uncle Sam, it is nearer than many thoughts, China to be the biggest Economy in next 5 years. [/h][h=2]We should expect jitters in the USA and tantrums galore in coming years. [/h][h=2]I have these nagging feelings that USA may decide to start WWIII to stop the progress of China and to halt her own economic slide.[/h][h=2]War has been used in the past to boost local economy. Whatever Uncle Sam does remain to be seen, but one thing is sure, it wouldnt be very please with IMF announcement of the inevitable. [/h][h=2]Would USA be able to ask such questions from China in 10 years time, like it asked now for the use of Aircraft carrier by China?[/h][h=2]Thats why I think, war would be used to stop China. West has used this term for years next big threat is China. They never meant in military terms but in Economical terms to destroy their hegemony in the world. [/h][h=2]For West the Economic hegemony is more important than military conquest, after all their standard of living are dependent on the fraud of the Markets, banks etc and their status as the leaders of the world. [/h][h=2]If both of these advantages nullified what remains of the USA and Europe? [/h][h=2]I suspect WWIII coming soon, my predictions.[/h][h=2][/h]
[h=2]China to outstrip US by 2016 IMF[/h]Many analysts are predicting a power shift in the financial arena quite soon, since according to International Monetary Fund projections, China could leapfrog the United States to become the world's largest economy by 2016.
Many have thought this likely for quite a while, and the latest news regarding the US debt-ceiling debate and the USs credit rating being downgraded is leading even more people to believe that this is going to happen even sooner than expected.
Chinas economy has actually grown by 45 per cent since 2007, while the GDP of the United States has grown by less than one per cent since then. The latest International Monetary Fund predictions show that Chinas economy will actually overtake the US economy by 2016. And that will be the first time in more than a century that the US economy is not the biggest in the world.
Lots of people say that Chinas economy focuses on exports, but they really have managed to diversify their economy. China is obviously seen as the manufacturing hub of the world, which has been able to create millions jobs for its low-skilled workers. But they have also been focusing a lot on technology, which has created millions of jobs for high-skilled workers as well.
The Chinese have been focused on retaining jobs domestically, and making sure that foreign investors are not able to compete with certain domestic industries, which is something that most countries cannot figure out. It is also important to know that Chinas economy is still very much state led. And with the government controlling most of the financial sector, Chinas banks have been relatively well shielded during the financial crisis.
http://rt.com/news/china-economy-leader-us/