Stiglitz: China becoming the world's largest economy should be a wake-up call for the USA

[TheTruth]

I think it will be many years before we reach American level of economic output, in nominal terms.

Unless the dollar is no longer the world's reserve currency, then nominal GDP will look the same as PPP.

It depends on how the appreciation of the yuan is going to be managed. It can come quickly or not, depending on what the PBOC wants.

But of course none of that matters - remember the United States is psychopathic and full of people who want to bring about the end of the world. It doesn't matter if a deranged maniac is half your weight, he can still plunge a dagger into your heart while you're not looking.

 

[senheiser]

yeah because over 1 billion should be poorer than america in total. Typical racism by americans

 

[Ruisheng]

Stiglitz is a Nobel-prize winning economist, and not a fake one like Krugman or Roubini either. He always bases his opinion on America's best economic interests, and that's why he opposes the pivot to Asia. Because he knows it will turn the USA into a 3rd world country and lead to its absolute ruin.

I hope I can attest that glorious day but, he's a left-winged. So it won't be surprised if he announced any prediction like this. BTW, when was the last time a economist successfully made a prediction?