China overtakes US for #1 economy in the world.

[longhornfan1234]

[url]http://www.msn.com/en-us/money/economy/it

[nathanjizzle]

retard, the U.S. has been depending on Chinese manufacturing long before obama was even born. Matter of fact, it was republicans whom signed a free trade act with china.

[iTare]

Were still the mightiest force this planet has hosted.

USA, USA, USA!!!

[longhornfan1234]

retard, the U.S. has been depending on Chinese manufacturing long before obama was even born.

China overtook America under Obama's watch, doe!!! :bowdown: :bowdown:


Liberals didn't give Bush the benefit of doubt on housing crisis and dot.com(Thanks, Bubba).

[step_back]

Just look at all those lucky Chinese workers who helped get them there. If every country decided to outsource their work to India and other countries they'd be screwed. China heavily rely on export and they can't invent for shit.

[KyleKong]

Only took them 800 million more workers to do so. :bowdown:

[Lebron23]

The shoes and other products are made in China.

[~primetime~]

http://accesources.com/wp-content/uploads/2014/07/9284423_orig.jpg

[Akrazotile]

Thank god we dont have those manufacturing jobs anymore, this way instead of having Americans work those jobs and staying out of trouble we can just pay them welfare to stand around street corners selling loose cigarrettes all day.

[fiddy]

RIP China

[fiddy]

The shoes and other products are made in China.
Most shoe production are outsourced to vietnam, bangladesh and other cheaper countries in term of labor cost.

[DCL]

If you compare GDP per capita though... it's lopsided

[russwest0]

Well we had a good run.

[DonDadda59]

He warned us (https://www.youtube.com/watch?v=Be7rWnuTzzU) but did anybody listen? :banghead:

[Akrazotile]

He warned us (https://www.youtube.com/watch?v=Be7rWnuTzzU) but did anybody listen? :banghead:


:lol

For some reason I actually have that on my ipod

[KevinNYC]

If you compare GDP per capita though... it's lopsided
Now why would you want to ruin Longhorn's day? He's discovered a statistic he's never heard of before and he's going to run with it. Why would you bring up a perfectly valid point like the fact that our GDP (let alone per capita) is still much higher and go pop longhorn's ballon? I bet you pop children's balloons too.

[falc39]

Really, is anyone surprised?

Something interesting is happening where I live. I was talking to a CEO of a startup recently about housing prices, and he basically was saying that a lot of chinese people have so much wealth that they are buying multi-million dollar homes (full cash payment) on his street and not even living in them but to use as an investment. He lives in one of the wealthiest neighborhoods in silicon valley too. Apparently that is one of the trends here :eek:

[Jailblazers7]

Really, is anyone surprised?

Something interesting is happening where I live. I was talking to a CEO of a startup recently about housing prices, and he basically was saying that a lot of chinese people have so much wealth that they are buying multi-million dollar homes (full cash payment) on his street and not even living in them but to use as an investment. He lives in one of the wealthiest neighborhoods in silicon valley too. Apparently that is one of the trends here :eek:

Yeah, I've read about that. A lot of Chinese capital is leaving the country and buying up real estate in top US markets and places like London. It's a big reason why a place like 432 Park Avenue in New York gets built.

[SunsN07BookIt]

China will take over the US GDP but it won't be until at least 2019-2024. The PPP's way of calculating t.hings is very flawed. China's economy only represents 14.5% of the world's GDP and it's total GDP is still just under 10 trillion while the USA's GDP is over 16 trillion.

[Dresta]

These numbers can't be trusted in the slightest.


Really, is anyone surprised?

Something interesting is happening where I live. I was talking to a CEO of a startup recently about housing prices, and he basically was saying that a lot of chinese people have so much wealth that they are buying multi-million dollar homes (full cash payment) on his street and not even living in them but to use as an investment. He lives in one of the wealthiest neighborhoods in silicon valley too. Apparently that is one of the trends here :eek:
This is happening all over the place, and is particularly prevalent in London, where wealthy foreigners buy up property, forcing prices up, and forcing those who aren't rich further out of London. It makes London richer, but prevents many who work in London from even living there (surrounding areas getting much more expensive also).

Thus you've got stagnating wages, increased prices, and a growing cost of living, generally meaning most people are worse off, while the statistics can be used to claim recovery. Politicians like it because it brings money into the country and boosts the precious GDP stat, for the same reason they have a vested interest in pushing for the cheap credit everyone blamed the banks for providing (who do you think wanted to promote this image of false prosperity, really?).

[MavsSuperFan]

If you compare GDP per capita though... it's lopsided
GDP per capita is far more descriptive about standard of living.

But aggregate GDP is far for descriptive of the total economic power of a nation. Which historically has been a precursor for military power and thus global power.

Ill be honest, this news saddens me. For my whole life the US has been the dominant world power. The soviet Union collapsed near the beginning of my life and the US was the sole superpower.

At this rate it seems the US will lose control of east asia at a minimum :( and probably much of africa

[KevinNYC]

GDP per capita is far more descriptive about standard of living.

But aggregate GDP is far for descriptive of the total economic power of a nation. Which historically has been a precursor for military power and thus global power.

Ill be honest, this news saddens me. For my whole life the US has been the dominant world power. The soviet Union collapsed near the beginning of my life and the US was the sole superpower.

At this rate it seems the US will lose control of east asia at a minimum :( and probably much of africa

you do not that the OP's link doe not talk about GDP, don't you?

[MavsSuperFan]

China overtook America under Obama's watch, doe!!! :bowdown: :bowdown:


Liberals didn't give Bush the benefit of doubt on housing crisis and dot.com(Thanks, Bubba).
The chinese raise started after Deng Xiaoping took power from the Gang of 4 after mao's death. (gang of 4 was partly lead by Mao's widow).

Deng took over and introduced special economic zones to 5 major regions in china and fully criticized the cultural revolution (admitting the damage it and other policies of mao did, eg. the great leap forward). Basically allowed capitalism in key regions, such as shanghai. the chinese culture is very pro capitalism, and they took to it like ducks to water.

Deng was one of the most effective tyrants/political leaders in human history. and unofficially held supreme power in china until his health faded shortly before his death.

Even after his death the next 2 chinese leaders were his choices.

It really has nothing to do with american presidents and more to do with deng xiaoping's competence

[MavsSuperFan]

you do not that the OP's link doe not talk about GDP, don't you?
china's GDP is catching up though, it will surpass america at the current rate within this decade.

Why do you feel it needs to be in the OP to be discussed?

do you have any thoughts about my post?

Also Op's link talks about gross domestic product (GDP) at purchasing power parity (PPP),

the value of all final goods and services produced within a state in a given year. The GDP dollar estimates given on this page are derived from purchasing power parity (PPP) calculations.


Using a PPP basis is arguably more useful when assessing a nations international and domestic market as well as the structure of its economy because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates which may distort the real differences in per capita income.

http://i.imgur.com/cOza87G.png

american global dominance is fading :(