The Economist: China has surpassed U.S. in many economic indices

[beijingwalker]

The Economist: China has surpassed U.S. in many economic indices
December 4, 5:54 pm

The Economist magazine pointed out in a recent article that in the 21 different economic indices including manufacturing output, export, fixed investment, China has surpassed U.S. by more than half.

The article also predicted when China will outperform U.S. in the rest indices. It pointed out that by 2014, China is expected to be the largest import country in the world and meanwhile has the largest retail sales. Nonetheless, U.S. still keeps great strengths in some of the indices, for instance, its capital in stock market is 4 times that of China and its national defense expense is 5 times that of China.

When Goldman Sachs first made prediction for the economic growth of the BRICs (Brazil, Russian, India and China) in 2003, it predicted that China would possibly surpass U.S. in 2041. But now the prediction is adjusted to 2027. And Standard Chartered predicted in 2010 that the surpassing year might be 2020.

The Economist estimated that the current GDP of U.S. is still twice that of China under market exchange rate. In the past ten years, the average annual GDP growth was 10.5 percent in China and 1.6 percent in U.S..The average annual inflation rate was 4.3 percent in China and 2.2 percent in U.S. respectively. Since China aborted yuan’s peg to the dollar, the average annual appreciation of yuan has been slightly over 4 percent.

The prediction towards the coming 10 years by the Economist was: the average annual GDP growth rates are likely to be 7.75 percent in China and 2.5 percent in U.S..The average annual inflation rates are expected to be 4 percent and 1.5 percent. Meanwhile, it is expected that yuan depreciate 3 percent each year. Considering these variables altogether, China is expected to outrange U.S. in 2018. If the actual economic growth rate is only 5 percent in the next 10 years (others unchanged), China will likely to outperform U.S. in 2021.

 

[rcrmj]

technology, economy complexity, business sophistication fair society and education, we need to supass those over America, and then we can sit and boast

 

[beijingwalker]

I m wondering if US can do anything to prevent this overtaking,but they don't seem to care anyway.

 

[Type 055]

I m wondering if US can do anything to prevent this overtaking,but they don't seem to care anyway.

They will cry. The ball is in our court. We do the right reforms, we overtake the US in these indicators. The Americans are powerless to stop it.

 

[kewell333]

真烦恼啊。。这是巴基斯坦防务论坛，不是中国防务论坛，满眼都是中国贴，给别人尊重才能得到别人的尊重。

 

[Viet]

They will cry. The ball is in our court. We do the right reforms, we overtake the US in these indicators. The Americans are powerless to stop it.

Well, the US is doing several things:

# impose heavy duties on some Chinese imports such as steel, solar, wind tech
# stop Chinese state own companies from purchacing American assets in oil/gas, etc...
# strengthen military presence in East/South East Asia (Japan, S Korea, Philippines)
# building/deploying anti-missile shields (Japan, Philippines, Australia)
# propaganda war against China in media

just to name the few

 

[Type 055]

Well, the US is doing several things:

# impose heavy duties on some Chinese imports such as steel, solar, wind tech
# stop Chinese state own companies from purchacing American assets in oil/gas, etc...
# strengthen military presence in East/South East Asia (Japan, S Korea, Philippines)
# building/deploying anti-missile shields (Japan, Philippines, Australia)
# propaganda war against China in media

just to name the few

But those things cannot STOP China's development. It's just containment, China is massive in land area and population size. As long as China develops economically, it's game over for the United States of America. Unless America can actually STOP China's economic rise, the ball in is our court. America is powerless to STOP China.

 

[Hasbara Buster]

technology, economy complexity, business sophistication fair society and education, we need to supass those over America, and then we can sit and boast

don't forget that as long as the U.S. remains militarily on top they will remain the world's dictator.

 

[Hasbara Buster]

Will China overtake the U.S. in terms of PPP or nominal GDP?

 

[Punjabbi Munda]

You are making world affairs section flooded with china,too many threads

 

[Audio]

You are making world affairs section flooded with china,too many threads

Due to China falling gdp the information ministry lowered the 50c quota per post by half, so they have to post double the amount.

 

[Type 055]

Due to China falling gdp the information ministry lowered the 50c quota per post by half, so they have to post double the amount.

That's rich for a guy that comes from a third world dump like India. I bet you don't even have a job. Just a bum with no life on PDF 24/7 nothing better to do than insulting Chinese.

 

[conworldus]

Will China overtake the U.S. in terms of PPP or nominal GDP?

Both. With the appreciation of RMB and growth difference, China should pass the US in nominal GDP no later than 2020.

However, this is not something we care about. Numbers are just numbers. The most pressing issue is to raise the living standards in China, cleaning up the environment, and develop a sustainable growth model for the long term. Externally we must face military threats from Japan and the US, and that requires a strong military.

 

[Audio]

That's rich for a guy that comes from a third world dump like India. I bet you don't even have a job. Just a bum with no life on PDF 24/7 nothing better to do than insulting Chinese.

So, you sayin' jobless bum Indians have internet access 24/7?

 

[shuttler]

Both. With the appreciation of RMB and growth difference, China should pass the US in nominal GDP no later than 2020.

However, this is not something we care about. Numbers are just numbers. The most pressing issue is to raise the living standards in China, cleaning up the environment, and develop a sustainable growth model for the long term. Externally we must face military threats from Japan and the US, and that requires a strong military.

and putting the internal houses in order！

真烦恼啊。。这是巴基斯坦防务论坛，不是中国防务论坛，满眼都是中国贴，给别人尊重才能得到别人的尊重。

if they are friends they are！ In fact our postings （Chinese flagged） are a small minority on PDF

Well, the US is doing several things:

# impose heavy duties on some Chinese imports such as steel, solar, wind tech
# stop Chinese state own companies from purchacing American assets in oil/gas, etc...
# strengthen military presence in East/South East Asia (Japan, S Korea, Philippines)
# building/deploying anti-missile shields (Japan, Philippines, Australia)
# propaganda war against China in media

just to name the few

true！any country that inches near them economically will receive similar treatments from usa
we can tit for tat too!