New American Chant: "We're Number Two!... We're Number Two!..." - China now No. 1

[tomm2thumbs]

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 no longer the leading economic power on the planet. It just happened -- and almost nobody noticed.

The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in "real" terms of goods and services, China will this year produce $17.6 trillion -- compared to $17.4 trillion for the U.S.A.

As recently as 2000, we produced nearly three times as much as the Chinese.

http://news.morningstar.com/all/market-watch/TDJNMW2014120494/update-its-official-america-is-now-no-2.aspx

_______

The sell-out of America by corporate greed has no doubt played a huge roll in this. Any wonder the GOP is going to speed this up in 2015 as they swarm the Congress and Senate? Any doubt they'll put this pattern into overdrive?

Profits before Country??!

You betcha!

[pampango]

1. I thought this had already happened. Since China has 4 times our population it was inevitable unless

there was some desire and mechanism to keep Chinese poor. (Perhaps fostering a new Mao along with a new Cultural Revolution and Great Leap Forward) would devastate the Chinese economy from within and put us back on top.)

I suspect we will be #3 behind India as well and for the same reason. They also have about 4 times our population. Unless they stay in relative perpetual poverty their economy will overtake the US, as well.

[Recursion]

12. It's happened a few times, this one looks like it will stick

We were both kind of bouncing around 1st for a few years there.

We still manufacture more than China, though you'd never know that reading DU...

[yeoman6987]

30. Great just what is needed for the GOP presidential

Nominee. See what President Obama has done? No the population won't blame Congress. What a mess.

[pampango]

32. Probably true but more a reflection of the knowledge of how big China and India really are and

what keeping their economies forever smaller than the US' would mean for the lives of their people.

You are right. republicans don't campaign on numbers and reality but on fear and emotion so they will be able to play this to their advantage.

[Odin2005]

2. China back in the 1st place after a 200 year absence.

Good for them.

[AverageJoe90]

20. I wish I could agree.

But given who runs the place.....I'm afraid the answer here is, no.

[Amishman]

3. GDP per capita seems a better measure

and we are number 10 in that regard.

[lonestarnot]

4. Any doubt they are trying to bankrupt the country? Detroit was just the start.

[nc4bo]

5. And Republican, Inc. and their minions harp about wealth transfer and

Wealth redistribution lol. Well, there it is on a grand scale.

Who will they try to blame NOW?!

[MisterP]

8. they always say "we're for equality of opportunity, not equality of outcome"

but still haven't banned inheritance, so ...

[Ykcutnek]

6. And all they had to do was turn their cities into this.

[Spider Jerusalem]

9. Which is the inevitable consequence of rapid industrialisation and heavy coal use

This is London in 1952, for instance:


And the EPA estimates that half the rivers in the US are too polluted to support healthy aquatic life: http://www.thewire.com/national/2013/03/half-all-us-rivers-are-too-polluted-our-health/63579/

[MANative]

7. Well, Obama's in charge. Rethugs will undoubtedly blame it on him.

They rail and moan about "personal responsibility" until there's any possibility that their own actions may be culpable.

[Spider Jerusalem]

10. The US represents 5% of world population. China represents 17% of world population.

That the US should be overtaken is inevitable.

[lunasun]

33. +1

[Recursion]

11. If you want a 1.7-billion-person economy to be smaller than the US's you are a sadist

China's economy being larger than ours is a very good thing.

[The2ndWheel]

16. Economically

Environmentally...well that train left a long time ago, so it doesn't really matter.

Yeah, the US had it good for a while. The American worker had it good for a while. Both will be needed less.

[Recursion]

17. China having a larger economy than us doesn't make us poor. They're one of our largest export buyers

Most US heavy manufacturing and metal extraction goes to China, and our ag surplus to China is huge.

[The2ndWheel]

22. Didn't say poor, I said needed less

White American males had it great in the 50's. Then the rest of the country, and the world, opened up, and now white American males don't get credit just for being white American males. They have to compete with everyone. That's the goal anyway. Now, it's just all Americans in relation to a growing China, India, etc.

The pie can get bigger, but that's where our environmental issues come into play.

Unfortunately we exist in physical reality, so there's a downside to everything.

[closeupready]

13. So, socialism works, is the takeaway?

Bernie Sanders for President!

[Recursion]

14. Milton Friedman advised China on their economy 40 years ago

There's very little "socialist" about them nowadays.

But a country of 1.7 billion only just now overtaking a country of 300 million is not exactly a great advertisement, either.

[Rex]

15. If you consider communism the same as socialism.

Yes it has worked out very well for the party leaders of China.

[Odin2005]

23. China hasn't been socialist in 41 years.

[closeupready]

25. lol - true to your avatar's namesake, you simply redefine the English language

to suit your needs. Not exactly groundbreaking, but I suppose you get an A for effort.

[Odin2005]

26. No, you are just completely ignorant about what socialism means.

It must hurt to be that ignorant.

[closeupready]

27. lol - bye-bye!

[Recursion]

31. No. Seriously. The command economy ended in the 80s

The government no longer owns the factories, so it's pretty much by definition not socialist.

[Octafish]

18. Globalization Works

[AverageJoe90]

19. Not good. Not good at all.

And given the kind of people still in power over there.....is much of what makes this so fucking tragic. Did they *once* stop to think that sending all their jobs to what is essentially a semi-Mussolinian dictatorship, was any good for even their business in general, let alone the fortunes of America as a whole? Or did they not care? Because the only people who've really benefitted from this have been the profiteers who came up with this idea in the first place.

[Derek V]

21. #2? I wish!

Aggregate all the metrics and we're closer to #35.

[True Blue Door]

24. As irritating at it is, some historical context is in order.

China was #1 through most of modern civilization and even going back into medieval civilization
They were richer the richest for thousands of years while Westerners were re-learning how to paint and warring between Presidentants and Catholics. And still thinks will pretty okay. China did not dominate the world despite its wealth. It retreated inside itself, and it will again.

[olddots]

28. take your clothes off !

Read the labels , any of the stuff made in America ?
Be alarmed wisely .

[PeteSelman]

29. Yay Reaganism!!!

What a stupid, greedy country this is. You gave away the store assholes!!