General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe United States of America could lose its position as the world's biggest economy as soon as next
The US could lose its crown as the world's most powerful economy as soon as next year, and it's unlikely to ever get it back
The United States of America could lose its position as the world's biggest economy as soon as next year - and once that happens, it is unlikely to regain the top spot as developing Asian economies power ahead.
https://www.businessinsider.com/us-economy-to-fall-behind-china-within-a-year-standard-chartered-says-2019-1?r=US&IR=T&utm_content=bufferee9db&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-bi
hedda_foil
(16,373 posts)Soxfan58
(3,479 posts)Wellstone ruled
(34,661 posts)Achilleaze
(15,543 posts)and the American economy
JDC
(10,127 posts)Republicans fuck up everything in and about this country. Everything.
Turbineguy
(37,324 posts)"I hate myself, my family, my friends and everybody else in the U.S. Now, hold my beer and watch me vote for trump!"
Blue_true
(31,261 posts)I have felt for a long time that if China and/or India had turned inward like the USA did after the Civil War and focused on internal consumption, infrastructure and raising up a massive middleclass, they would have buried us more than a decade ago.
former9thward
(32,002 posts)They are playing with statistics (or they don't know how to do math). They are using per capita statistics -- not the overall economy. Of course with 1.4 billion people China has nearly the size economy of the U.S. But it is much poorer. The U.S. only has 330 million.
Fullduplexxx
(7,860 posts)ProudLib72
(17,984 posts)China GDP = $12 billion
USA GDP = $19 billion
China GDP per capita = $8,633
USA GDP per capita = $59, 792
However, the debt is also interesting...
China debt as %of GDP = 44.32%
USA debt as %of GDP = 107.17%
https://countryeconomy.com/countries/compare/china/usa
former9thward
(32,002 posts)I don't.
ProudLib72
(17,984 posts)But you can't ignore how we report our debt.
Anyway, I know that simple GDP is supposed to be the measure of a country's economy, but I don't believe it's as straightforward as that. Your point was that per capita GDP drastically changes the perspective. My point is that debt changes it again.
Beartracks
(12,809 posts)There's no way this could've been part of Putin's plan, could it?
=============