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US Now Second Largest Economy in World. 

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Old 12-04-2014, 12:46 PM
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US Now Second Largest Economy in World.

Not since Grant have we not been #1.

Hang on to your hats, America.

And throw away that big, fat styrofoam finger while you’re about it.

There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.

It just happened — and almost nobody noticed.

The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.

As recently as 2000, we produced nearly three times as much as the Chinese.

To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S.

http://www.marketwatch.com/story/its...o-2-2014-12-04

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Old 12-04-2014, 12:50 PM
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Re: US Now Second Largest Economy in World.

Bush's fault.

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Old 12-04-2014, 12:54 PM
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Re: US Now Second Largest Economy in World.

If someone asked me "who's to blame?" I'd say whoever decided to switch the American economy from a manufacturing to a service economy. I think Eisenhower's time.

That and Unions.

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Old 12-04-2014, 01:03 PM
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Re: US Now Second Largest Economy in World.

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Bush's fault.
Clinton's fault. Free Trade China

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Old 12-04-2014, 01:25 PM
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Re: US Now Second Largest Economy in World.

We have a president who only gives a shit about social issues. It's not Obama's fault, but he certainly isn't trying to do anything about it. In fact, I'm willing to bet, Obama doesn't even care.

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Old 12-04-2014, 02:17 PM
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Re: US Now Second Largest Economy in World.

This is what happens when you worship football and movie stars.

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Old 12-04-2014, 04:11 PM
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Re: US Now Second Largest Economy in World.

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This is what happens when you worship football and movie stars.
Not really. This is what happens when we give in to the rest of the world. When other nations say we control too much, and other nations are suffering because of our greed. So we make deals that aren't necessarily great for us, but are great for our competitors.

But it should be noted China has only surpassed America because America allowed it. I'm sure America is China's biggest importer of Chinese goods. Making their economy billions. Not to mention the unfair trade agreements America has entered with China. And I'm sure that's a product of our debt, and the fact China owns trillions of it.

As soon as the world stops buying cheap Chinese knockoffs, their world will crumble down. China doesn't exactly follow the law when it comes to infringement of patents. Nor do they play straight when it comes to their money.

Also important that much of the exports are generally of a lesser quality than American exports. And have much less standards in quality and consumer protections. Basically, it means much of the products exported are inferior to American products. In other words, Americans need to stop buying cheap shit from China, because it's cheap shit.

Also the standard of living in China is far below the standard in the U.S. Which boils down to China has much less laws protecting it's workforce. Allowing them to have a endless amount of extremely cheap labor, which allows them to push out ridiculous amounts of products for much less than American companies can produce it for.

And you could point out EPA and other over regulation of American companies. Putting them again at a disadvantage. China is by far the biggest polluter in the world, almost double of America. While America keeps trying to lower our emissions, China is doing the opposite.

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Old 12-04-2014, 05:02 PM
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Re: US Now Second Largest Economy in World.

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Originally Posted by BryanXavier View Post
If someone asked me "who's to blame?" I'd say whoever decided to switch the American economy from a manufacturing to a service economy. I think Eisenhower's time.

That and Unions.
I agree.


Thank corporations and free trade, they are who has profited from free trade and free trade is what has enabled nations like China and decimated our manufacturing base.

Unions shot themselves in the foot to some degree, but even if they made huge concessions no American worker can compete with the low wages and non existent safety standards in 3rd world nations.

Thank wal mart for importing all the cheap Chinese shit, and all the people who shop at Walmart for supporting it,....... Its a really vicious circle.

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Old 12-04-2014, 05:07 PM
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Re: US Now Second Largest Economy in World.

Well, we gave them all of our manufacturing jobs...

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Old 12-04-2014, 05:51 PM
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Re: US Now Second Largest Economy in World.

Quote:
Originally Posted by niknik View Post
As soon as the world stops buying cheap Chinese knockoffs, their world will crumble down.

Also important that much of the exports are generally of a lesser quality than American exports. And have much less standards in quality and consumer protections. Basically, it means much of the products exported are inferior to American products. In other words, Americans need to stop buying cheap shit from China, because it's cheap shit.

not so much anymore... chinas products are often very high quality, competing with the best in the world...it just depends what you buy and from which suppliers.... most of what you have in your house is probably made in china or has components manufactured in china, including the high end stuff you might own...

china has overtaken the USA because they set themselves up right not because anyone allowed it... give them some credit...they've don'e things smarter than pretty much any other nation for the last 40 years

and if you talk pollution china is a slightly more polluting country on the whole, but per person the USA is more than twice as bad....check the facts...

it's a well known fact that the USA is far behind most of the world...hell, they even bailed on the kyoto protocol because 'it would harm the economy of the nation'....fucking bush

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