People saying that China is going to overtake the US should look at this:

This is probably common knowledge to a lot of you, but a lot of people don't know how far ahead the US is in GDP compared to countries like Japan, China, German and the UK, the 2nd, 3rd, 4th, and 5th largest economies, respectively.

And when people say that India and Russia has a chance to overtake the US...well laught it off.

Again, this is pretty obvious stuff, but is still interesting to look at.

From Google Public Data:

Yeah they mean in the next 30 - 40 years, not tomorrow :lol:

The United States still has the largest economy, but it's still a threat to some though. By the time I graduate college I'm going to have to compete for jobs with people from other nations due to where I live. You'll see more and more people being outsourced to other countries as time goes on. BTW India has more honor role students than the total number of students attending schools in the US.

The rapid increases in other countries are what the US is afraid of

People say a lot of things.

Well, the US had a good run. Time for another country to take over I guess.

not adjusted for inflation?

ik the dollar is weaker then the pound but is it weaker then the other currencies too, because that would make up for a lot i think...maybe i'm totally wrong.

Didn't China pass Japan?

Yeah they mean in the next 30 - 40 years, not tomorrow :lol:

thelastguy

Didn't China pass Japan?

Ragnarok1051

yep they did

please don't forget that china practically bought the united states during the GFC. also note your graph ends at 2008.

also chinas growth figures like 10% GDP per annum versus americas contracting/barely growing economy at all. it will take time, but it will happen.

they also have like 80% of the earth's rare metals that are required for the manufacturing of high tech products. and tibet - which has oodles of natural resources. and also border/are very close to countries like kazakhstan - who have most of the worlds uranium. and the proximity to the caspian sea, which has ~70% of the worlds oil and gas reserves. also something rediculous in the way of coal reserves, that can sustain itself for any period between 50-80 years (adjust for growth and demand accordingly as time goes on, 50 years being shortest projected period)

it will probably happen within 2 generations at most, but it will happen.

[QUOTE="Ragnarok1051"]

Didn't China pass Japan?

dontshackzmii

yep they did

Yeah they mean in the next 30 - 40 years, not tomorrow :lol:

thelastguy

How can businesses thrive in China if IP law is virtually non-existent? I just don't get it.

Didn't China pass Japan?

Ragnarok1051

in terms of GDP Purchasing Power China already has the largest Economy in the World

Sorry TC, but that graph does not give an accurate depiction of wealth comparison between countries. If you look at GDP using purchasing power parity, you'll get a better picture (if yet still flawed) than that graph you have up there. GDP (PPP) of the US last year was ~$14 trillion, while China was ~$9 trillion. cybrcatter

very true PPP is the true weight of a Nations Financial and Industrial might .

Unless China magically becomes like the western world in terms of living, working and environmental standards, it really isn't going anywhere. I can see China imploding onto its self in terms of industry and manufacturing because as people are educated about the west, they will demand similar living conditions, wages, etc. That really isn't compatible with the current industry which is supporting China's impressive growth. China's growth is all about western demand for cheap labour, and high profit margins with natural resources and raw materials, due to again, cheap labour. I wouldn't be suprised at all if China were to implode like a ticking time bomb, just waiting.

Won't be nice though.

not adjusted for inflation?

ik the dollar is weaker then the pound but is it weaker then the other currencies too, because that would make up for a lot i think...maybe i'm totally wrong.

Jph625

The Dollar has weakened terribly as of late, as the Federal Reserve planned it. Their little $600 billion Treasury purchase has hammered the dollar's value in recent weeks, just bring up DXY on a stock website. It used to be around 82, now it's in the 70s.

if we keep making decisions based around gaining money in the future rather only fixing the here and now we just might get back on the track we were once on.

I can't wait until China overtakes the US, it will happen.pspdseagle

US debt is also very significant. I forgot the exact number, but it's close to 100% of GDP now.funsohng

Many western countries have much higher debt than we do vs gdp.

and take the derivative of that graph in the past 2 years, we will see who the one on top is.CongressManStan

I think you forgot to mention how much money you owe to china, got to take that into consideration!SPBoss

You forgot how screwed China would be if they tried to call it in, or do anything really. Without American Consumers they would be screwed. No one has an advantage here.

hmm...current trends don't always last...but then again...who knows?:|

[QUOTE="SPBoss"]I think you forgot to mention how much money you owe to china, got to take that into consideration!Former_Slacker

You forgot how screwed China would be if they tried to call it in, or do anything really. Without American Consumers they would be screwed. No one has an advantage here.

China is experiencing unnatural growth because they are a centrally planned economy. If they become a democracy growth will be more like India's. wstfld

[QUOTE="wstfld"]China is experiencing unnatural growth because they are a centrally planned economy. If they become a democracy growth will be more like India's. sonicare

So wait, do I have to learn Chinese or not?

I very much doubt it.

So wait, do I have to learn Chinese or not?

entropyecho

We'd probably instigate nuclear war before we let anyone take our throne.

Well, no country can be best forever...

[QUOTE="entropyecho"]

So wait, do I have to learn Chinese or not?

cybrcatter

Done, just call me Lil'Kim. 8)

We'd probably instigate nuclear war before we let anyone take our throne.

Pixel-Pirate

C'mon Pixel, you can't honestly believe that.

[QUOTE="Pixel-Pirate"]

We'd probably instigate nuclear war before we let anyone take our throne.

entropyecho

C'mon Pixel, you can't honestly believe that.

[QUOTE="Pixel-Pirate"]

We'd probably instigate nuclear war before we let anyone take our throne.

entropyecho

C'mon Pixel, you can't honestly believe that.

I don't think it'd be a hissy fit "If I'm going down I'm taking you with me!" moment but I believe events would lead to a war that uses nuclear weapons, yes.

[QUOTE="cybrcatter"][QUOTE="entropyecho"]

So wait, do I have to learn Chinese or not?

entropyecho

Done, just call me Lil'Kim. 8)

You know I'm white because when someone mentions Lil'Kim, I think of this.

cybrcatter

I actually stole it from Deuce Bigalow: European Gigolo. See here.

That movie was pretty damn funny. Stupid, pointless, but funny.