Bitcoin Forum

China is now The World's Largest Economy
http://finance.yahoo.com/news/china-just-overtook-us-worlds-090801574.html
United States is declining faster than I thought.

It is because China has more than 1 billion people compared to America. Eventhough China has biggest economy it still needs big improvement to near American standards of living.

NO WAY

CHINA'S COMMUNIST PARTY WILL GO HELL SOON

REVOLUTION ON THE WAY



!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

American living standards are dropping as well so it's only a matter of time before America's per capita income levels are overtaken by China.

(Assuming China can follow Japan's lead and begin heavily investing in her citizens...)

If you don't account for bubble finance industries in US, China has been the largest economy for a long time.

Typical_demtard.png

This should be expected given its large population and size.

China and Russia will be best economy in the world

Congratulations to China!

On what grounds do you believe Russia will go on to become one of the  world's biggest economies?

This is not a good measure of a country's economy. The size of the economies are adjusted for purchasing power. The best measure - straight GDP - still shows the US being a much larger economy then China

YET

US Defence Spending:  $756.4 billion
China Defence Spending:  $115.7 billion

2014 figures.

Figure alone can be misleading. Need to take effectiveness and efficiency into consideration also.

Why?  We are comparing economies, not results.

Already is one of the largest economies now, sixth world economy and still growing

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

it is because China is able to mimic the various technologies of other countries but with a cheaper price than the original price of the goods, but for the technology in terms of quality is almost perfect to emulate ... although not as perfect as the original, but it is good enough ..

However in terms of defense and security of china is still very dependent on America, especially in the manufacture of war materials advanced, for it has not been able to match the chinese american as armaments manufacturers the world's largest ...  8)

I thought this was going to be happening in like 2030 for sure but that china were basically now the main super power because of growth rate.

side note: bitcoin/crypto currency is the china killer

who would ever have thought capitalist communists.

China is industrial power

No worse than Western nations that constantly preach 'free trade' yet subsidize' exports, bail out banks and other failing industries with tax revenue and impose strict tariffs on imports.

China's economy is currently growing, but it will not grow for too long unless they change their policies. The debt to GDP ratio has already hit the 250% mark, and it is not a good sign by any means.

The US is able to spend their defense dollars more efficiently then China. The US generally has more advanced military technology so each additional dollar spent is able to purchase weapons that can produce more damage.

Also the US has been spending vast amounts of money on defense for much longer then China has so it already has stockpiles of weaponry and technology to use if necessary

DONT FORGET GINI INDEX

Under free trade we have a common division of labor, and a pseudo common market. Its not valuable to distinguish between the "china economy" and "american economy". Its one economy and the china region is now larger in its contribution to the combined gdp. Under free trade we should not be making these distinctions at all.

actually I think the west is jealous and are trying to replicate their system.
Especially with their one world gubment crap they keep slowly building up.

I don't think thot they are trying to replicate anything.

The Western nations are the authors of this great gome of hypocricy.

The only difference is that the Chinese are getting much better results.

No nation has pulled so many of its citizens out of poverty in as short a time period China.

I disagree with this.

From my limited knowledge of the subject, I've seen the US spend much larger amounts on new aircraft and new naval ships just for new technologies.  The weapons themselves can't produce more damage - the vehicle that delivers the weapons becomes harder to hit.  The US has no problem spending a billion dollars just to increase likelihood of survival a few percent.

In other words, the US spends a lot more per soldier than China does.  But in their defence, they have a lot more soldiers and don't need to protect them as well.   :-\

I'm no wonder about this news.

Chinese's population is the largest in the world.
And they called as a massive production machine that can make any kind of product both of original or copy one.

And their buying demand is high that will increase their revenue

Still going to be a while before China overtakes the US in military expenditure. China still only has one aircraft carrier (which isn't combat operational).

http://flatrock.org.nz/static/frontpage/large_military_comparison_usa_china.jpg

The US is able to spend their defense dollars more efficiently then China. The US generally has more advanced military technology so each additional dollar spent is able to purchase weapons that can produce more damage.

Also the US has been spending vast amounts of money on defense for much longer then China has so it already has stockpiles of weaponry and technology to use if necessary
[/quote]

China don't need to spend that much on defense. Attacking China would be a costly war and that would be the mutually assured destruction of the world economy for at least a decade, therefore the attackers would shot themselves in the leg.
(Not to mention that Russia has close ties to China so they would likely to be pissed off.)

At this point China only needs to build up technologically, keep strengthening it's own economy and to establish the means of their power projection for the future. The USA will bleed out economically within a few decades and will have to introduce some new, more introverted policies for sorting out it's own problems. That will be time when China can start spreading her influence over the word without getting involved in costly clashes with other power centers.

China yes. It will be the biggest economy in the world sooner or later.
But russia no. It has only 140 million people. That's not enough.
Unless it will restore soviet union on a new basis or something.

Only with Purchasing power parity (PPP)
But in nominal GDP it still has a way to go.

PPP makes the most sense in comparing economies anyway. Would you disagree?

Yes, I disagree. Only real numbers make sense. Purchasing power parity is bullshit. All depends on how you count this "power parity".

I disagree as well (alone with the person above me). GDP is what the economy actually produces over the time measured, the actual economic output. PPP adjusts for standard of living giving countries with worse standard of living an upward revision

pull the blinders off and you'll see it all around you. it isn't apples to apples or close to it yet.
But it's being spliced in as we sit around bitching about it online.

PPP may make sense for comparing how the people in the country can live, e.g. for things like GDP per capita as a measure of wealth, but I think nominal (or real) GDP makes the most sense when comparing the economic power of nations.  If the US and China both went to buy stuff from other nations, the US could afford a lot more, China's forex reserves notwithstanding.

However, I think China is on track to surpass the US even nominally by 2040 or so.  It is clearly going to be a different world.

It will be quite some time before China's per capita income overtakes the USA.  ;D

more like by 2020 =)

China is seeing higher bursts of economic growth but are also seeing more economic slow-downs. I am not sure if China or the US is seeing a higher long-term economic growth rate, however it is far from certain that China will be able to maintain a high rate of growth, especially considering the fact that the government is building a lot of real estate that is sitting vacent.

If China will not make any mistakes, they will surpass the US GDP for sure. It's just a question of time.

It is much more complex then to just not make any mistakes. There needs to be sufficient demand for the goods they produce. The demand will not necessarily always be there as the prices they sell their goods for is artificially low as they have kept their currency artificially weak for a very long time. This will eventually result in inflation which will degrade the standard of living of people living in China.

No it will not. China's internal market growing even faster then their GDP. Do you now that they now produce 2.5 times more cars per year then america produce?

What does real numbers mean? What's the purpose of measuring GDPs and why would you prefer one over the other?

real China , here you go :


http://site.6park.com/life2/index.php?app=forum&act=threadview&tid=14238242

Take some USD, go to China, exchange for RMB, buy something there, forget about PPP.

Are you from china?

sure, but now in germany

if possible PRC  chinese prefer  to buy products aboard  eg  USA  or west Europe rather than in China since same products are much more expensive than aboard

Studying, working? Would you go back to China? Or you just want to get out of there and never comeback?

i  threw away my passport into commode, i need freedom

So you don't want to go back to China?

how can man mix fire with water ?

Who are you? Water or fire?

This is a good point, if your best people want to leave and live elsewhere, it is hard to stay a strong economic power.

China looks really strong economically right now, so did Japan in 1989.  Like Japan, I don't think China will drop dramatically but that does not mean it will automatically overtake the USA.  The US does have real advantages such as rule of law and (at least some) individual liberty.  The US has taken some steps backward, but should not be counted out just yet.

water can quench fire but not bomb

less Neville Chamberlain in US government, much stronger USA

Rule of law is very important for an economy to prosper over the long term. From what I have hear, China does not have any serious way to get a civil enforcement/judgment on a contract, therefore it is very easy to scam in China which will, over longer periods of time, hamper trade.

Who are you exactly? Bomb? Fire? Water?

How can you compare the economies? China isn't a robust economy; separating state entities from private enterprises is impossible, so accurate accounting is impossible. Similarly, the debt situation in China is extremely disconcerting. Folks scream and wail about how the U.S. is in bed with banks, but no mention of China literally funding and operating state banks?

I am who i am, for your questions you'd go to ask Germany or China government, i lost interest  talking with you

At least they looks well feed and normal clothes not like in NK that only Kim Jong is the only fat while the population is very thin.

Prepare for the nukes to pop off when america gets pissed.

China and the End of Meta-Narratives.
http://blog.sina.com.cn/s/blog_553f35510101i480.html

Its not that surprising for China has been working their ass to get where they are today.

A lot of people are reacting negatively to this news but fail to see a lot of the good that comes out of it. For one thing, since manufacturing costs in China vs the U.S. is almost reaching parity, this forces a lot of U.S. based companies to bring back their operations onto the home front. In the end this will be better for our own economy.

Hell, the Chinese are even outsourcing some jobs to the U.S. which can only help OUR own economy.

http://money.cnn.com/2012/04/24/smallbusiness/china-us-manufacturing/

The U.S. government raised taxes so high that it made good sense to move manufacturing to other countries... because the labor was cheap there. Now those other countries have the technology that we sent over there to do the manufacturing, and they are developing the tech that we didn't send. Soon there will be no cheap labor countries left to go to.

As our cheap labor countries grow with our technology, their labor becomes more expensive, because they adopt our ways.

Our economy will collapse because our government and banks are too greedy to acquiesce to the things that makes sense: eliminate taxes, get rid of stupid laws that take freedom from the people, open up every kind of home manufacturing to any Americans that want, eliminate the police state, etc.

:)

Why so butthurt?