For the first time since the reconstruction era, the United State is not the world’s number one economy. Market Watch,
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.
This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade.
Well. all of those Republican business leaders. and their outsourcing of American jobs to places with low environmental and labor standards, have finally done it. They must be very happy with our reduced status. For how long will we let them continue to feed parasitically upon the great economy the rest of us have built with our labor?
You mean like Microsoft, Apple, GE, GM, Boeing… oh wait, those are Democrats. You could add the White House (and Gov. Inslee) who continue to hand out incentives to foreign companies for green energy — 80% of grants have gone overseas.
OK, I agree with what the Republicans did somewhat, but you need to blame liberals for 39% corporate tax and the EPA’s Nazi style to enforce laws by fining them Especially during recession.
We are still meeting right? This weekend?