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Getbig Main Boards => Politics and Political Issues Board => Topic started by: 24KT on November 11, 2010, 04:11:58 PM
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China may be bigger economy than US within two years
By Jeremy Warner
(http://blogs.telegraph.co.uk/finance/files/2010/11/hu-pic.jpg)
Barack Obama greets China's Paramount Leader, Hu Jintao (Photo: Getty)
Here’s a finding that will have any red-blooded American spluttering into his cornflakes. According to the Conference Board, a highly respected economic research association, China will overtake the US as the world’s biggest economy by 2012, or within two years.
OK, so in dollar terms, that’s obviously not going to be the case. It will be a lot longer than two years before China overtakes the US on that measure. But in terms of purchasing power parity, according to the Conference Board’s latest world economic outlook, China is already nearly there, and by 2020 will have reached a size of output which is nearly half as big again as the US.
Here’s the Wkipedia link explaining what PPP (http://en.wikipedia.org/wiki/Purchasing_power_parity) is, but broadly speaking the idea is to measure output according to the volume, not the price of goods and services produced. The assumption made is that identical goods will have the same price in different markets. In practice, this is obviously not the case. A taxi ride in Beijing, for instance, will cost you approximately a tenth of what it costs in London. But it is essentially the same service.
In any case, in PPP terms, the Conference Board’s projections show China as 24.1 per cent of world output by 2020, and the US at just 14.8 per cent.
We all knew that the weight of economic growth had skewed dramatically since the crisis from advanced to emerging market economies, but many in the West don’t yet seem fully to appreciate the speed with which economic and geo-political power is shifting. This is a truly seismic change. How these once irrelevant economies choose to use their new found power is the overarching question of our times.
Jeremy Warner, assistant editor of The Daily Telegraph, is one of Britain's leading business and economics commentators.
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china is way below US economy in real gdp per capita
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china is way below US economy in real gdp per capita
The Chinese are cooking their books. Would the Chinese government lie to us?
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Why the FUCK is the Obama always fucking bowing? For cripe sake he is the POTUS have a littel fucking pride
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China may be bigger economy than US within two years
By Jeremy Warner
(http://blogs.telegraph.co.uk/finance/files/2010/11/hu-pic.jpg)
Barack Obama greets China's Paramount Leader, Hu Jintao (Photo: Getty)
Here’s a finding that will have any red-blooded American spluttering into his cornflakes. According to the Conference Board, a highly respected economic research association, China will overtake the US as the world’s biggest economy by 2012, or within two years.
OK, so in dollar terms, that’s obviously not going to be the case. It will be a lot longer than two years before China overtakes the US on that measure. But in terms of purchasing power parity, according to the Conference Board’s latest world economic outlook, China is already nearly there, and by 2020 will have reached a size of output which is nearly half as big again as the US.
Here’s the Wkipedia link explaining what PPP (http://en.wikipedia.org/wiki/Purchasing_power_parity) is, but broadly speaking the idea is to measure output according to the volume, not the price of goods and services produced. The assumption made is that identical goods will have the same price in different markets. In practice, this is obviously not the case. A taxi ride in Beijing, for instance, will cost you approximately a tenth of what it costs in London. But it is essentially the same service.
In any case, in PPP terms, the Conference Board’s projections show China as 24.1 per cent of world output by 2020, and the US at just 14.8 per cent.
We all knew that the weight of economic growth had skewed dramatically since the crisis from advanced to emerging market economies, but many in the West don’t yet seem fully to appreciate the speed with which economic and geo-political power is shifting. This is a truly seismic change. How these once irrelevant economies choose to use their new found power is the overarching question of our times.
Jeremy Warner, assistant editor of The Daily Telegraph, is one of Britain's leading business and economics commentators.
China has long exceeded america economically. America is a nation of phantom wealth that exists only on paper and nothing else. It manufactures NOTHING while China manufactures EVERYTHING. While China is still a country of low wages it is a highly skilled nation in all crafts, technologies, intelligence, science, engineering etc etc which leaves america waaaaaaay behind. Americas leading export is SCRAP METAL...now that is a damn shame.
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Hmmmm, why log in under your gimmick account to support your initial post?
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Why the FUCK is the Obama always fucking bowing? For cripe sake he is the POTUS have a littel fucking pride
When your ass is borrowing 5 BILLION per day from China...YOU BETTER BOW!!!!!
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Lots of American people just don't understand Asian culture.
Bowing is like a handshake in China. If you don't bow, that's like meeting somebody and not extending your hand for a handshake. It's considered very rude.
It is kind of strange that Hu Jintao is not bowing. Maybe he bowed to Obama before or after Obama bowed?
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China has long exceeded america economically. America is a nation of phantom wealth that exists only on paper and nothing else. It manufactures NOTHING while China manufactures EVERYTHING. While China is still a country of low wages it is a highly skilled nation in all crafts, technologies, intelligence, science, engineering etc etc which leaves america waaaaaaay behind. Americas leading export is SCRAP METAL...now that is a damn shame.
Not true in any of these statements
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are you serious?
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;D
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Not true in any of these statements
She's just confused....it must be taxing running 2 or 3 gimmicks in one thread.....
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China has long exceeded america economically. America is a nation of phantom wealth that exists only on paper and nothing else. It manufactures NOTHING while China manufactures EVERYTHING. While China is still a country of low wages it is a highly skilled nation in all crafts, technologies, intelligence, science, engineering etc etc which leaves america waaaaaaay behind. Americas leading export is SCRAP METAL...now that is a damn shame.
Highly skilled at what? Operating sweat shops? Sure. The only thing the Chinese excel at is stealing other people's research and technology. They aren't capable of innovating, hence their need to rip off entire car designs and the like.
Well, they excel at that and manipulating their currency to create unfair trade advantages that hurt the rest of the world's economies. Regardless, China has plenty of their own problems brewing. And there are a number of economists who feel India will be the bigger economy when all is said and done as their growth has been much more stable and is much less volatile than China's.
Props for needing this thread to make it less than five posts before you had to call in your gimmick to defend your point of view.
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Not true in any of these statements
DENIAL is more than a river in Egypt...
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DENIAL is more than a river in Egypt...
SamsonEnterprises, every person on this board knows that you're a chronic liar.
How's Sorcha Faal doing, by the way?
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Highly skilled at what? Operating sweat shops? Sure. The only thing the Chinese excel at is stealing other people's research and technology. They aren't capable of innovating, hence their need to rip off entire car designs and the like.
Well, they excel at that and manipulating their currency to create unfair trade advantages that hurt the rest of the world's economies. Regardless, China has plenty of their own problems brewing. And there are a number of economists who feel India will be the bigger economy when all is said and done as their growth has been much more stable and is much less volatile than China's.
Props for needing this thread to make it less than five posts before you had to call in your gimmick to defend your point of view.
Is that so?
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Is that so?
Why don't you go ahead and prove to us how China is ahead of the US in intelligence, science, engineering, etc, etc, etc like you claimed?
Fact of the matter is that most Chinese companies are incapable of competing with American companies, hence the need for the Chinese government to babysit them and make it possible for them to stand a chance of not getting annihilated in pure competition.
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Lots of American people just don't understand Asian culture.
Bowing is like a handshake in China. If you don't bow, that's like meeting somebody and not extending your hand for a handshake. It's considered very rude.
It is kind of strange that Hu Jintao is not bowing. Maybe he bowed to Obama before or after Obama bowed?
Fucking please, no other POTUS has done this sort of shit before. It is also Asian culture that the one that bow's the lowest is the lesser of the leaders.
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China has long exceeded america economically. America is a nation of phantom wealth that exists only on paper and nothing else. It manufactures NOTHING while China manufactures EVERYTHING. While China is still a country of low wages it is a highly skilled nation in all crafts, technologies, intelligence, science, engineering etc etc which leaves america waaaaaaay behind. Americas leading export is SCRAP METAL...now that is a damn shame.
Yeah they are so fucking advanced they just recently started building their own cars ::) Just like any other communist country they steal the technology of other and make cheap copies. Fuck off with your stupidity. The only thing they are good at is reverse engineering you moron.
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Fucking please, no other POTUS has done this sort of shit before. It is also Asian culture that the one that bow's the lowest is the lesser of the leaders.
But really. Who gives a shit?
With all the insane and awful shit happening in this world you're worrying about Obama bowing too much? Who gives a fuck?
Obama is just a figurehead and an actor. Who cares what he does?
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When your ass is borrowing 5 BILLION per day from China...YOU BETTER BOW!!!!!
(http://www.jaguarenterprises.net/images/rotflmao.gif)
Why does everyone balk at the idea that the POTUS could observe customary politeness?
Don't ever go to Japan, ...you'll be bowing 24/7
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Lots of American people just don't understand Asian culture.
Bowing is like a handshake in China. If you don't bow, that's like meeting somebody and not extending your hand for a handshake. It's considered very rude.
It is kind of strange that Hu Jintao is not bowing. Maybe he bowed to Obama before or after Obama bowed?
EXACTLY!!!
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Highly skilled at what? Operating sweat shops? Sure. The only thing the Chinese excel at is stealing other people's research and technology. They aren't capable of innovating, hence their need to rip off entire car designs and the like.
Well, they excel at that and manipulating their currency to create unfair trade advantages that hurt the rest of the world's economies. Regardless, China has plenty of their own problems brewing. And there are a number of economists who feel India will be the bigger economy when all is said and done as their growth has been much more stable and is much less volatile than China's.
You can trash China all you want. One thing is undeniable, ...they're smart enough to print their own currency and not get it from the Federal Reserve.
Years ago when China chose to peg their currency to the US Dollar, the USA cheered and spoke about how smart they were and what a great thing to do. Now that the Chinese economy is a raging bull, they're screaming about how terrible it is that the Chinese currency is pegged to the US Dollar. I think some of these people should make up their minds. :-\
Props for needing this thread to make it less than five posts before you had to call in your gimmick to defend your point of view.
You really are certifiable. ::)