China overtakes the US as the worlds biggest economy

[Teeth]

Its ok though man, China holds US debt and has them by the balls

How so?

[Leshma]

That said, regular GDP comparisons make China look bad because they artifically keep their currency down, making the exchange to dollar costly for the GDP number. The thing with countries with 1.3 billion people is that even if they are dirt poor, the sheer number of people producing at a shoddy pace is gonna make the national economy big.

No one is stopping your country from having 1.3 billion people Main reason why EU is above USA lies in population numbers (505 vs 320 mil). Those charts are also showing that India is the next behind China. Population size matters the most, because money today equals to people time. Saying how we should ignore population size is like saying how you are having size disadvantage in a bar fight and how your opponent should back off because of it.

[Teeth]

I didn't say we should ignore population size, not at all. My point is merely that it should come as no surprise that China is able to become the biggest economy quite easily and rapidly because of population size. Regardless of the fact that the economy consists of poor individuals, the political and military power that can be drawn from this economy is controlled by a single state that can project its power to achieve its goals.

[Harpag]

In recent years, a dozen times I was in China and I have to say that such places like Shanghai and Hong Kong making a great impression, but you have to remember that nowhere in the world has so blatantly rapidly progressive social stratification. Combination of an aging generation of people from "one child policy" (today they are over-50s) and a lack of a pension scheme, means that in China we are dealing with 300 million inhabitants city from which half live in a decent economic level, but the remaining one billion of rural population live in terrible conditions and is only a reservoir of cheap labor. Huge demographic problem. This situation is somewhat rescued by massive investments in infrastructure, but it can't save high economic growth, which is the only thing that saves this country from collapse. If you add to this environmental disaster, picture is not optimistic.

In murica, it is much better. Shale gas and energy revolution (very cheap electricity) in US already attracting big industry from China and Europe.

This will keep NA on the wave and China will significantly slow down.

Waiting for an economic union  EU - NA. Great business development prospects for our businesses.

[FleetFox]

Ok now you need to compare the GDP per capita, then its a much different story. America will remain top dog for many more years to come, don't you worry.

[Leshma]

Many seem to ignore the fact this thread is about worlds biggest economy, not the best country in the world.

[Xant]

Many seem to ignore the fact this thread is about worlds biggest economy, not the best country in the world.

Which China is only when "adjusted." US is still the world's biggest economy.

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[Umbra]

Hence the "soon" 

[lombardsoup]

Ok now you need to compare the GDP per capita, then its a much different story. America will remain top dog for many more years to come, don't you worry.

GDP is worthless when you're the world's top debt ridden nation for 16 years running, with half of its population either not working or not looking for work.  Doesn't matter how much you make if you can't manage your money.

USA USA

btw its the Chinese holding onto 'murican debt.  If anyone is in a position to dominate, its the Chinese.

[Lt_Anders]

GDP is worthless when you're the world's top debt ridden nation for 16 years running, with half of its population either not working or not looking for work.  Doesn't matter how much you make if you can't manage your money.

USA USA

btw its the Chinese holding onto 'murican debt.  If anyone is in a position to dominate, its the Chinese.

No. China BUYS US debt to keep it's country fluent. Without a Stable dollar China loses a lot of it's economic power. It's a double reward. China maintains economic growth and power, while the US can do what it needs to. The problem is, if China comes "calling" for the debt, the US can negate itself out with very easy methods. It's not something that will be a good 1-year plan but it'll be able to drop "Chinese Debt Holders" if push comes to shove without severe reprecussions over a long period.

And, in addition, China is a country that has a growing middle class, in a country where "freedom"(for Tibet) and a larger, more educated central class isn't tolerated.

[lombardsoup]

No. China BUYS US debt to keep it's country fluent. Without a Stable dollar China loses a lot of it's economic power. It's a double reward. China maintains economic growth and power, while the US can do what it needs to. The problem is, if China comes "calling" for the debt, the US can negate itself out with very easy methods. It's not something that will be a good 1-year plan but it'll be able to drop "Chinese Debt Holders" if push comes to shove without severe reprecussions over a long period.

And, in addition, China is a country that has a growing middle class, in a country where "freedom"(for Tibet) and a larger, more educated central class isn't tolerated.

Negate the debt with what?  Bullshit?  Nobody trusts the US anymore.

And give me a break with the "America is freedom" crap, since you've forgotten about its rampant police brutality and warrant-less surveillance.

[Xant]

And, in addition, China is a country that has a growing middle class, in a country where "freedom"(for Tibet) and a larger, more educated central class isn't tolerated.

Yep, that's one of the problems. Higher educated people aren't going to slave away 18 hours a day for 2 dollars a week.

[Clockworkkiller]

Negate the debt with what?  Bullshit?  Nobody trusts the US anymore.

And give me a break with the "America is freedom" crap, since you've forgotten about its rampant police brutality and warrant-less surveillance.

Holy shit bro, don't you have anything better to do? Raging at America is literally all you do on these forums.

Plenty of EU guys on here are no fans of America, and that's fine. But you're acting like you're on a crusade with a massive stick up your ass.

[lombardsoup]

Holy shit bro, don't you have anything better to do? Raging at America is literally all you do on these forums.

Plenty of EU guys on here are no fans of America, and that's fine. But you're acting like you're on a crusade with a massive stick up your ass.

Well hey, when you're motherfucking every other nation on earth in the name of interventionism, people get tired of the BS.

[Lt_Anders]

Negate the debt with what?  Bullshit?  Nobody trusts the US anymore.

And give me a break with the "America is freedom" crap, since you've forgotten about its rampant police brutality and warrant-less surveillance.

You obviously didn't read what I wrote. "Freedom" (For Tibet) isn't anything related to "American Freedom."  Lombard is probably one of those EBT Flashers since he can't seem to read basic English.