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China Economy Will Overtake US in 10 years!
RtWngExtrmst
Member Posts: 7,456
The only way to stop this from happening is if everyone immediately stops shopping at Walmart, Lowes and Home Depot.
US Will Be the World's Third Largest Economy: Citi
The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup.
"We expect strong growth in the world economy until 2050, with average real GDP growth rates of 4.6 percent per annum until 2030 and 3.8 percent per annum between 2030 and 2050," Buiter wrote in a market research.
"As a result, world GDP should rise in real PPP-adjusted terms from $72 trillion in 2010 to $380 trillion dollars in 2050," he wrote.
As the world watches oil prices rise sharply amid unrest in the Middle East, Buiter's analysis of the world's long-term prospects offer some hope that better times are ahead but if he is right power will shift from the West to the East very quickly.
"China should overtake the US to become the largest economy in the world by 2020, then be overtaken by India by 2050," he predicted.
One Way Bet on Emerging Markets?
Growth will not be smooth, according to Buiter. "Expect booms and busts. Occasionally, there will be growth disasters, driven by poor policy, conflicts, or natural disasters. When it comes to that, don't believe that 'this time it's different'."
The Most Extreme Cases of Hyperinflation, Ever
http://www.cnbc.com/id/41775174
I'm bettin' most on this Forum don't care.
US Will Be the World's Third Largest Economy: Citi
The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup.
"We expect strong growth in the world economy until 2050, with average real GDP growth rates of 4.6 percent per annum until 2030 and 3.8 percent per annum between 2030 and 2050," Buiter wrote in a market research.
"As a result, world GDP should rise in real PPP-adjusted terms from $72 trillion in 2010 to $380 trillion dollars in 2050," he wrote.
As the world watches oil prices rise sharply amid unrest in the Middle East, Buiter's analysis of the world's long-term prospects offer some hope that better times are ahead but if he is right power will shift from the West to the East very quickly.
"China should overtake the US to become the largest economy in the world by 2020, then be overtaken by India by 2050," he predicted.
One Way Bet on Emerging Markets?
Growth will not be smooth, according to Buiter. "Expect booms and busts. Occasionally, there will be growth disasters, driven by poor policy, conflicts, or natural disasters. When it comes to that, don't believe that 'this time it's different'."
The Most Extreme Cases of Hyperinflation, Ever
http://www.cnbc.com/id/41775174
I'm bettin' most on this Forum don't care.
Comments
I went to Home Depot. The China refurb kit was $2.99 or something. The US made factory OEM kit was $4.99 or something. I bought the US made kit not just to support jobs, but because in my experience the OEM parts are better quality.
A couple of years ago I bought a carpet type stapler to put up targets on backers at my gun club. Went to Walmart. The Chinese made stapler was $8.99 and felt flimsy as all get out. The Indian made stampler was $11.99 and was a little more solid, but there was still a lot of plastic. The US made version was $19.99. It was made of what looked like chromed metal that would stop a 22LR with no damage at 50 feet. I bought the US made one with no regrets.
The choice is there if you want to make it.
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Americans as a rule have led a very wasteful life (myself included) and that is unsustainable.
Please correct me if Im wrong but all things being equal, even if we stopped importing 90% of our goods and produced them in house a country with a bigger population would still have a larger economy no? The only way to have a larger economy then China would be to produce our goods cheaper then they could. which would mean paying the workers less then they do. how would that help the american worker?
quote:Originally posted by CDMead
I had to replace the washer / spring assembly in my kitchen faucet recently. This is something I need to do every few years because it'll start to drip.
I went to Home Depot. The China refurb kit was $2.99 or something. The US made factory OEM kit was $4.99 or something. I bought the US made kit not just to support jobs, but because in my experience the OEM parts are better quality.
A couple of years ago I bought a carpet type stapler to put up targets on backers at my gun club. Went to Walmart. The Chinese made stapler was $8.99 and felt flimsy as all get out. The Indian made stampler was $11.99 and was a little more solid, but there was still a lot of plastic. The US made version was $19.99. It was made of what looked like chromed metal that would stop a 22LR with no damage at 50 feet. I bought the US made one with no regrets.
The choice is there if you want to make it.
Ditto! Buy American is the way.....when you can. Seek out American made products rather than foreign. They might be a bit higher in price but some be it. Example...my book publisher called me on day last year and said that they could keep the price of my book at $19.99 if they move the publishing to China or raise it to $21.99 if they continued to publish it in the US. NOBRAINER[:D]. I haven't seen a loss in sales nor one person complain about the higher price when they have it explained to them.
I agree. Buy Toyota Tundras. They may be a little more expensive, but at least the're made in America.