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China's economy to overtake US in next four years, says OECD

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#1 FlintyV

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Posted 09 November 2012 - 17:59

Guardian - China will overtake the US in the next four years to become the largest economy in the world, says a leading international thinktank.

The Paris-based Organisation for Economic Co-operation and Development (OECD) said China's economy will be larger than the combined economies of the eurozone countries by the end of this year, and will overtake the US by the end of 2016.

Global GDP will grow by 3% a year over the next 50 years, it says, but there will be large variations between countries and regions. By 2025, it says the combined GDP of China and India will be bigger than that of France, Germany, Italy, Japan, UK, US and Canada put together. Asa Johansson, senior economist at the OECD, said: "It is quite a shift in the balance of economic power we are going to see in the future."

Inequalities will persist, even though people in the poorest countries will see their income more than quadruple by 2060, with those in China and India seeing a more than a seven-fold increase. By 2060, the OECD says living standards in the emerging countries will still only be 25%-60% of the level enjoyed by those in the US.


#2 FMH

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Posted 09 November 2012 - 18:14

Yes they can!

#3 vetneufuse

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Posted 09 November 2012 - 18:16

oh wow 40yrs... a lot can happen in 40yrs, the entire chinese economy could flop in 40yrs for all we know

#4 -Razorfold

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Posted 09 November 2012 - 18:27

oh wow 40yrs... a lot can happen in 40yrs, the entire chinese economy could flop in 40yrs for all we know

4 years, not 40.

#5 mr_sock_00

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Posted 09 November 2012 - 18:34

it figures, they produce iphones.

#6 Anibal P

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Posted 09 November 2012 - 18:36

Not surprising at all, we won't be seeing any recovery anytime soon, I bet it won't be just China, but a few more will pass us by while we spend all our time blaming the rich people and Bush for all our problems

#7 Javik

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Posted 09 November 2012 - 18:38

But commies can't prosper! :laugh:

#8 mr_sock_00

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Posted 09 November 2012 - 18:41

But commies can't prosper! :laugh:


It seems US has turned more communist than China in recent years.

#9 +d5aqoëp

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Posted 09 November 2012 - 18:44

I dont see this happening till population control measures are further tightened esp in India.

#10 Javik

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Posted 09 November 2012 - 18:50

It seems US has turned more communist than China in recent years.


Republican scaremongering and reality don't often match up. Stop watching Fox News.

#11 Astra.Xtreme

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Posted 09 November 2012 - 19:15

We've been recovering and improving for 4 years now. You going to keep posting this crap in every topic, and ignore people that prove you wrong with reality and facts?

Accept reality and stop being a spamming troll.


You're right in that the US has been recovering, but it's been at a poor rate. The GDP seems to be increasing by 1-2% every year, which is really sad. On top of that, the outlook is that it will not get any better thru the next year and may even get slightly worse. That is exactly why countries like China are posed to pull ahead of us.

It doesn't matter whether you can prove that we're improving or not. The reality is that it's a pi*s poor recovery, and something needs to be done about it.

#12 theyarecomingforyou

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Posted 09 November 2012 - 20:15

You're right in that the US has been recovering, but it's been at a poor rate. The GDP seems to be increasing by 1-2% every year, which is really sad.


The GDP growth rate of the US is greater than:

The UK
Ireland
Italy
Spain
Japan
Portugal
Netherlands
Denmark
The EU
And many more...

So it may not be great but it could certainly be worse, especially given that it was the US that was largely responsible for the financial meltdown. Obama is doing a good job in very difficult circumstances.

#13 Astra.Xtreme

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Posted 09 November 2012 - 20:42

The GDP growth rate of the US is greater than:

The UK
Ireland
Italy
Spain
Japan
Portugal
Netherlands
Denmark
The EU
And many more...

So it may not be great but it could certainly be worse, especially given that it was the US that was largely responsible for the financial meltdown. Obama is doing a good job in very difficult circumstances.


Sure, but there are 148 countries that are doing better. And the US GDP is less than half the world's average. That's really really bad, and it's not improving. That's fine if you want to think Obama is doing a good job, but by looking at the numbers, it says otherwise. We got past the low point quickly, but there has been little to no improvement in the past couple years, and there's no outlook of it getting better. Spending more and more and increasing the deficit is going to make it worse, and even you have to agree with that. It will not get better until he stops doing what he has done for the past 4 years.

#14 AJerman

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Posted 09 November 2012 - 21:39

You're right in that the US has been recovering, but it's been at a poor rate. The GDP seems to be increasing by 1-2% every year, which is really sad. On top of that, the outlook is that it will not get any better thru the next year and may even get slightly worse. That is exactly why countries like China are posed to pull ahead of us.

It doesn't matter whether you can prove that we're improving or not. The reality is that it's a pi*s poor recovery, and something needs to be done about it.


This is not why countries like China will pull ahead of us. They will pull ahead of us because China has been exploding in recent years. Their GDP has increased almost 7 fold in 10 years. It has basically tripled in 5 years. Their economy is growing at a faster rate than the US economy EVER has.

That said, IF their economy continues to grow at the rate it is, they could catch up with us, but it doesn't look to me like it's within 4 years, and that's BIG if. Our GDP is still twice theirs, and that's a huge gap. It remains to be seen if they can continue to grow at their current rate, but if they did, they would surpass our economy even when our economy is strong being that our economy has never grown as fast as theirs has recently.

#15 Original Poster

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Posted 09 November 2012 - 23:20

oh wow 40yrs... a lot can happen in 40yrs, the entire chinese economy could flop in 40yrs for all we know


I agree in a country like china so close together and over populated an illness or a natural disaster would cripple them both in power and money