China overtakes the US as world’s largest economy
The U.S. no longer boasts the world’s largest economy.
China, the world’s most populous country, has overtaken America to claim the title of world’s number one economic powerhouse, according to the International Monetary Fund (IMF).
By year’s end, China’s economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion.
Just over a decade ago, in 2000, the Americans produced three-times as much as the Chinese, MarketWatch noted. The Chinese economy was one-tenth the size of the U.S. in 1980, according to the Financial Times (FT).
China’s growth means it now accounts for 16.5 percent of the world’s economy, according to the financial news site. The U.S. is holding down 16.3 percent.
The IMF made the calculations by measuring purchasing-power parity (PPP), which does not account for fluctuations in exchange rates when measuring economies.
Similar goods cost the same in both Shanghai and New York, as far as PPP is concerned.
Experts have predicted this monumental shift in economic power for years. It was never a question of if, but rather when.
The U.S. sat atop the world economic perch since 1872, when it passed Great Britain. The Brits only held the title for a handful of years, though, according to FT.
Who did Great Britain surpass to claim the temporary perch? China, of course. The Chinese had the world’s largest economy as late as 1870, an economic historian told the paper.
Despite the inevitability of the world’s most populous country assuming the top of the economic food chain, China’s ascension carries a rather large caveat.
The per-person Gross Domestic Product (GDP) is less than one-quarter that of the U.S., according to FT. It is still far from being the world’s wealthiest nation.
That distinction remains American.
Source aol.com
China overtakes the US as world’s largest economy!
Sorry folks, the U.S. no longer boasts the world’s largest economy. China, the world’s most populous country, has overtaken America to claim the title of world’s number one economic powerhouse, according to the International Monetary Fund (IMF). By year’s end, China’s economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion. Just over a decade ago, in 2000, the Americans produced three-times as much as the Chinese, MarketWatch noted. The Chinese economy was one-tenth the size of the U.S. in 1980, according to the Financial Times (FT).
Jim Rogers made these predictions back in 2006! He reiterated his predictions in his book “A Bull In China.” So far he has hit the nail on the head. He also believes that students competing in today’s modern world need to speak fluent Mandarin. I support that statement 100 percent. If you are raising young children, you need to make arrangements for Mandarin Lessons. Jaymie and I visited with Mr. Jim Rogers several years ago and needless to say, it was a tremendous learning experience! I highly recommend attending his lectures both in Asia and the United States. He frequently visits New York City to lecture on the State of the Economy and US China Relations.
Of Jim Rogers’ many books, my favorite is definitely “Investment Biker” but “Crystal Ball” is a great read as well! 🙂
For more information, please go to:
http://www.jimrogers.com/
China overtakes US as No. 1 trading country – February of 2013
IMF Prediction: China to surpass US as world’s largest economy-October 2014
China overtakes the US as world’s largest economy!
Sorry folks, the U.S. no longer boasts the world’s largest economy. China, the world’s most populous country, has overtaken America to claim the title of world’s number one economic powerhouse, according to the International Monetary Fund (IMF). By year’s end, China’s economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion. Just over a decade ago, in 2000, the Americans produced three-times as much as the Chinese, MarketWatch noted. The Chinese economy was one-tenth the size of the U.S. in 1980, according to the Financial Times (FT).
Jim Rogers made these predictions back in 2006! He reiterated his predictions in his book “A Bull In China.” So far he has hit the nail on the head. He also believes that students competing in today’s modern world need to speak fluent Mandarin. I support that statement 100 percent. If you are raising young children, you need to make arrangements for Mandarin Lessons. Jaymie and I visited with Mr. Jim Rogers several years ago and needless to say, it was a tremendous learning experience! I highly recommend attending his lectures both in Asia and the United States. He frequently visits New York City to lecture on the State of the Economy and US China Relations.
Of Jim Rogers’ many books, my favorite is definitely “Investment Biker” but “Crystal Ball” is a great read as well! 🙂
For more information, please go to:
http://www.jimrogers.com/
China overtakes US as No. 1 trading country – February of 2013
IMF Prediction: China to surpass US as world’s largest economy-October 2014
China overtakes the US as world’s largest economy!
Sorry folks, the U.S. no longer boasts the world’s largest economy. China, the world’s most populous country, has overtaken America to claim the title of world’s number one economic powerhouse, according to the International Monetary Fund (IMF). By year’s end, China’s economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion. Just over a decade ago, in 2000, the Americans produced three-times as much as the Chinese, MarketWatch noted. The Chinese economy was one-tenth the size of the U.S. in 1980, according to the Financial Times (FT).
Jim Rogers made these predictions back in 2006! He reiterated his predictions in his book “A Bull In China.” So far he has hit the nail on the head. He also believes that students competing in today’s modern world need to speak fluent Mandarin. I support that statement 100 percent. If you are raising young children, you need to make arrangements for Mandarin Lessons. Jaymie and I visited with Mr. Jim Rogers several years ago and needless to say, it was a tremendous learning experience! I highly recommend attending his lectures both in Asia and the United States. He frequently visits New York City to lecture on the State of the Economy and US China Relations.
Of Jim Rogers’ many books, my favorite is definitely “Investment Biker” but “Crystal Ball” is a great read as well! 🙂
For more information, please go to:
http://www.jimrogers.com/
China overtakes US as No. 1 trading country – February of 2013
IMF Prediction: China to surpass US as world’s largest economy-October 2014