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China Surpasses U.S. as World's #1 Economic Power

  1. GA Anderson profile image87
    GA Andersonposted 2 years ago

    Thanks again to rHamsom for providing the seed for another forum thread.

    Economists are predicting that in 2014 China will surpass the U.S. as the world's #1 largest economy. Now, they are not saying #1 economic power - does that make a difference?

    China's past and current economic GDP growth puts America to shame - 7. something %, (China), to 1 or 2%, (U.S.).

    But what does this mean? Just that China's economy is larger than the U.S.'s? Or does it mean China has more clout n the rest of the world?

    Since actual economic efforts are measurable, other than than a "bragging rights" issue, what should be our concerns that China will soon be the world's largest economy?


    1. AshtonFirefly profile image82
      AshtonFireflyposted 2 years ago in reply to this

      My concern is that China will take over the whole world and I have no clue nor have the patience to learn how to speak Chinese.
      Just kidding.
      What would really be all that bad about China being the world's largest economy? Sorry but I am highly uneducated in economics. Is it the impact on jobs, an ego buster for the U.S., or...?

    2. Old Poolman profile image83
      Old Poolmanposted 2 years ago in reply to this

      China's rise to economic power should really not come as any surprise to anyone.  We basically handed them this trophy with the anti-business attitude that has evolved in this country.
      Government regulations have made US soil a very unfriendly place to start and operate any large manufacturing business.  The labor unions make it even worse with their demands for  high wages and outrageous benefits packages.
      It would seem many in this country just don't understand that any product must sell for at least slightly more that it costs to produce if the company is to survive.
      But that is called "profit" and we all know how evil and unfair making a profit is these days.
      We polished our economic excellence trophy and handed it to China to eliminate the greed that so many hate.  Soon we will all be poor and dependent on our government for survival and will live happily ever after.

    3. rhamson profile image76
      rhamsonposted 2 years ago in reply to this

      Business sense tells me to exploit it. How can that become a strength for the US is the question. Should companies such as Amazon sell the crap out of what China manufacturers. The US is going towards service oriented business' such as medical and banking. If someone can figure how to combine the two they will have found El Dorado.

  2. GA Anderson profile image87
    GA Andersonposted 2 years ago

    I have to pay more attention. I started another China#1 thread because I forgot about this one. Sorry folks. I will sit in the time-out chair later.

    As for the question... I am still pondering the possible negatives to losing the #1 spot.

    Other than the years old Taiwan dispute - China does not seem to have any obvious imperialistic or colonization ambitions. So, I don't see their soon-to-be-acquired #1 status to be a threat in those areas.

    As their GDP grows, so does their citizen's Per Capita Income Is there a danger as China's citizen's escape their previous impoverished existence? Could this lead to more consumer demand for imported products, thus a boon to exporting nations - of which we are one? Could this possible enhanced "buying power" make China more influential on the world stage?

    Just would change if the world's largest economy was China's?