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[url="http://www.guardian.co.uk/business/2012/nov/09/china-overtake-us-four-years-oecd"][b]Guardian[/b][/url] - 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.

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Posted

Yes they can!

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Posted

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

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[quote name='neufuse' timestamp='1352485012' post='595308859']
oh wow 40yrs... a lot can happen in 40yrs, the entire chinese economy could flop in 40yrs for all we know
[/quote]
4 years, not 40.
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Posted

it figures, they produce iphones.
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Posted

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
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Posted

But commies can't prosper! :laugh:
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Posted

[quote name='Javik' timestamp='1352486293' post='595308915']
But commies can't prosper! :laugh:
[/quote]

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

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

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Posted

[quote name='mr_sock_00' timestamp='1352486463' post='595308921']
It seems US has turned more communist than China in recent years.
[/quote]

Republican scaremongering and reality don't often match up. Stop watching Fox News.
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[quote name='muggerfugger' timestamp='1352486214' post='595308913']
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.
[/quote]

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.

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Posted

[quote name='Astra.Xtreme' timestamp='1352488525' post='595309009']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.[/quote]

The [url="http://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate_(latest_year)"]GDP growth rate[/url] 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.
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Posted

[quote name='theyarecomingforyou' timestamp='1352492129' post='595309075']
The [url="http://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate_(latest_year)"]GDP growth rate[/url] 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.
[/quote]

Sure, but there are 148 countries that are doing better. And the US GDP is less than [b]half[/b] 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.
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Posted

[quote name='Astra.Xtreme' timestamp='1352488525' post='595309009']
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.
[/quote]

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, [b]IF[/b] 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.

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Posted

[quote name='neufuse' timestamp='1352485012' post='595308859']
oh wow 40yrs... a lot can happen in 40yrs, the entire chinese economy could flop in 40yrs for all we know
[/quote]

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

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...Seriously? China's a massive country, a natural disaster isn't going to cripple it.

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[quote name='Javik' timestamp='1352486293' post='595308915']
But commies can't prosper! :laugh:
[/quote]
its easier to start a business in China than most western countries. Chinese prosperity nothing to do with communism

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Posted

The West's dominance is fast becoming an illusion :/

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[quote name='guru' timestamp='1352503631' post='595309569']
its easier to start a business in China than most western countries. Chinese prosperity nothing to do with communism
[/quote]

Not really. China's economy hasn't been torpedoed by reckless banks, because they're tightly regulated.

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[quote name='Javik' timestamp='1352505159' post='595309623']
Not really. China's economy hasn't been torpedoed by reckless banks, because they're tightly regulated.
[/quote]
i'm not sure what you are rambling about. communism wouldnt allow private banks for starters. I dont see how Chinese economy is communist.

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[quote name='neufuse' timestamp='1352485012' post='595308859']
oh wow 40yrs... a lot can happen in 40yrs, the entire chinese economy could flop in 40yrs for all we know
[/quote]
How about we work on our economy instead of hoping our competitor flop.

[quote name='Javik' timestamp='1352505159' post='595309623']
Not really. China's economy hasn't been torpedoed by reckless banks, because they're tightly regulated.
[/quote]
I don't get this when put into the context of this thread, but anyway...

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[quote name='z0phi3l' timestamp='1352486162' post='595308911']
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
[/quote]

But...

[quote name='muggerfugger' timestamp='1352486214' post='595308913']
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.
[/quote]

Thank you

[quote name='mr_sock_00' timestamp='1352486463' post='595308921']
It seems US has turned more communist than China in recent years.
[/quote]

How so?

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People here keep claiming there's a recovery going on, but from what I've seen, I watch CNN mostly, it's always good to get your news from the Admin's mouthpiece, they economy is pretty much stagnant, still Bush's fault too, and by the list of companies that are getting ready to do massive layoffs because now of the burden Obamacare is adding, what little recovery we've had will stop completely, now if you believe that what we haven't been able to pull off in the last 4 years will miraculously happen this next, then good luck with that, those of us in the real world will be stuck with higher taxes and higher medical care costs and no decent prospect of a decent job

[quote name='C-Squarez' timestamp='1352508700' post='595309719']
How so?
[/quote]

This is becoming the norm in "progressive" cities:

http://sanfrancisco.grubstreet.com/2012/02/ice-cream-bar-sf-city-delays.html

How long does it take in China?
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Posted

A lot can happen in 4 years. Heck, a lot can happen in one year. So, we'll see.

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[quote name='Javik' timestamp='1352487020' post='595308949']


Republican scaremongering and reality don't often match up. Stop watching Fox News.
[/quote]

Ndaa?

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