In terms of purchasing power, China now has the largest economy on the entire planet, but that is not the only area where China has surpassed the United States. China also accounts for more total global trade than the U.S. does, China consumes more energy than the U.S. does, and China now manufactures more goods than the U.S. does. In other words, the era of American economic dominance is rapidly ending. Global economic power is making a dramatic shift to the east, and that is going to have huge implications for our future. We already owe the Chinese well over a trillion dollars, and as our economic infrastructure crumbles we are feverishly borrowing even more money in a desperate attempt to prop up our falling standard of living. We can’t seem to match the work ethic, inventiveness and determination of China and other Asian nations and it is showing. If we continue down this path, what will the future look like for future generations of Americans? (Read More...)
Largest Economy
40 Signs The Chinese Economy Is Beating The Living Daylights Out Of The U.S. Economy
It is time to face the truth. The Chinese economy is simply beating the living daylights out of the U.S. economy. Whether you want to call it a rout, a slaughter or a thrashing, the reality is that the Chinese are absolutely embarrassing America on the global economic stage. At this point, the Chinese are playing economic chess while the Americans are playing economic checkers. China is poised to blow past the United States and become the largest economy in the world. Not only that, some economists are projecting that the Chinese economy could be three times larger than the U.S. economy by mid-century. The age of U.S. economic dominance is ending, and most Americans still don’t even understand what is happening. (Read More...)