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China's Economy Will Overtake The U.S. In 2018

 
sgtdjones 2017-12-05 20:34:34 

China's Economy Will Overtake The U.S. In 2018

The Conference Board estimates that by 2018, China’s contribution to global GDP will surpass that of the U.S.

How has China become such a dominant economic power? Part of the reason is its booming auto industry. To illustrate, the total number of autos sold last year in China was 24.6 million. This dwarfs total auto sales in the U.S. last year, which hit a record 17.5 million cars and trucks.

In addition, SUV sales in China increased a whopping 52% in 2015. China’s auto industry is thriving and should provide stiff competition for U.S. auto manufacturers in the years ahead.

Lots of people are curious about what happens after China’s GDP surpasses America’s and, thanks to the International Monetary Fund, we know the answer. Here’s what the IMF found in 2015 and projected for the next few years (its figures underestimated China’s growth rate):

GDP Corrected for Purchasing Power Parity, Billions

2016, China: $20,853 –USA: $18,558

2017, China: $22,451 –USA: $19,284

2018, China: $24,283 – USA: $20,145



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sgtdjones 2017-12-05 20:35:51 

So perhaps we should follow the prediction of Nobel economist Robert Fogel: “China will have a $123 trillion economy by 2040. By then, the country will account for
40% of the world’s gross domestic product and be “superrich.”

The American economy, by way of contrast, will produce only 14% of global output. And Europe? The E.U. will claim just 5%.”



wow

 
XDFIX 2017-12-05 22:24:54 

In reply to sgtdjones

U.S a young country with fewer people

China is yet to be classified as a developed country on the Yank's index

 
sgtdjones 2017-12-05 23:16:45 

In reply to problemjay

How come ya president Trumpet not getting his done?

cool cool cool

 
sgtdjones 2017-12-05 23:30:37 

In reply to Norm

This proves that Communist government is better, doesn't it?


Could it be the mass population, generates a self-controlled internal economy. China must produce goods to keep its mass population from seeking products from abroad.

It keeps Forex in China.

If it produces 20 % more products it can ship such overseas thus keeping close tabs on a meager inventory.

China has 4 times the population of the USA, we have seen
an amazing economic revival in China , with its partial free market system.

If we are to look at economic data one sees that a country with 75 million or more people Japan, Germany etc
its internal demands builds a strong economy even when exports fail.


Equally noteworthy is the exceptional rise in China’s economy. In 1970, China was responsible for a mere 4.1% of the total. This rose to 15.6% in 2015. In 2025, China’s contribution to the global economy is projected to be 17.2%

In 1970 the US controlled 21% of the World economy. In 2015, the U.S. contributed 16.7% of the world’s economy. By 2025, this is expected to fall to 14.9%


In 20 years China will control 35 % of the Worlds economy.

Interesting isn't it.

 
DAVE400 2017-12-06 07:43:12 

It is waaaaay beyond the point where we have to rethink how or why we consider economic growth.

Simply put, economic growth is synonymous with resource exploitation.

It is not necessarily a good thing.

We have a billion people producing plastic thingies..many of them without any purpose other than to fill an emotional hole in people's lives...

All the while, creating levels of pollution and poisoning the planet.

I heard a shocking fact recently....tiny Trinidad and Tobago produces 100 million plastic bottles monthly of which 70 million is exported...I did not validate this fact personally but my source was someone I consider very credible...

Actually, mathematically it makes sense...if you consider how many plastic bottles we use on average from water to coca cola to concentrated juices, etc with limited recycling....it's actually a low estimate...

Let that sink in a bit...

Taking all this resource out of the earth and converting them into something non-biodegradable...

 
problemjay 2017-12-06 13:22:29 

Dont matter how some in here want to twist and turn the facts. China is controlled by a communist regime and is a superpower in the world . They have so much influence in different parts of the world today they have become the envy to many Americans who still dream of forever being the world only decision maker on global policing.
There is no political democracy in China, it's one party system and their leader is internally decided.The govt makes all the big decisions in the country.
China is the opposite from what Americans teach their kids in school how communist countries are failures, instead China's rapid growth is a success story. At the rate they are growing economically they will soon take over America. Yes the Comunist Govt getting the job done and in fact have major ecomonic influence right here in the Caribbean