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When will China overtake the US as largest economy in the world?

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When will China overtake the US as largest economy in the world?

Asked by: Super Userkruijs in Business » Economics
Settled on 12/04/2014 20:57 Settled by Super Userkruijs
Winning option:In or before 2015 There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.

It just happened — and almost nobody noticed.

http://www.marketwatch.com/story/its-official-america-is-now-no-2-2014-12-04

Predictions

Background

“It is now a question of how many years, rather than how many decades, before China replaces the United States as the largest economy in the world,”

China views the United States as a declining power, but at the same time believes that Washington is trying to fight back to undermine, and even disrupt, the economic and military growth that point to China’s becoming the world’s most powerful country, according to the analyst, Wang Jisi, the co-author of “Addressing U.S.-China Strategic Distrust,” a monograph published this week by the Brookings Institution in Washington and the Institute for International and Strategic Studies at Peking University.

The United States is no longer seen as “that awesome, nor is it trustworthy, and its example to the world and admonitions to China should therefore be much discounted,” Mr. Wang writes of the general view of China’s leadership.

In contrast, China has mounting self-confidence in its own economic and military strides, particularly the closing power gap since the start of the Iraq war. In 2003, he argues, America’s gross domestic product was eight times as large as China’s, but today it is less than three times larger.

http://www.nytimes.com/2012/04/03/world/asia/chinese-insider-offers-rare-glimpse-of-us-china-frictions.html

Find similar: china, united states, economy

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