USA is now number 2

[picolo]

China is developing and has much ground to make up from the past losses to trade.  USA is more in decline because of its overburden to government, it must consolidate and resolve conflicts in its economy between what works and does not.  I expect that is why China would 'beat' USA in GDP growth.
Some admire the command economy idea and that China may advance because politics has the power to force it but I think most natural growth likely to succeed would be unforced and supported by people without duress

China is succeeding because they are mostly doing what is right economically.

[Shevarion]

there 3 Keys why Chine is number 1 

First, vision and long-term development planning solid through a five-year plan of sustainable development. Second,apply basic knowledge development strategy. Third,the existence of a strong and effective bureaucracy led by China Communist Parties rulling

and support by their people are diligent and industrious, thrifty, innovative and high discipline 
i see many product are written "Made in Chine" 

[Window2Wall]

China is developing and has much ground to make up from the past losses to trade.  USA is more in decline because of its overburden to government, it must consolidate and resolve conflicts in its economy between what works and does not.  I expect that is why China would 'beat' USA in GDP growth.
Some admire the command economy idea and that China may advance because politics has the power to force it but I think most natural growth likely to succeed would be unforced and supported by people without duress

The US economy is still growing and over longer periods of time it is growing at a faster rate then China. Additionally the Chinese government is more burdened by government intervention (by far) then the us is; many companies are state owned, there are horrible capital controls and a huge amount of corruption

[DonQuijote]

http://www.scoop.co.nz/stories/HL1412/S00164/china-challenges-us-economic-war-against-russia.htm

On Sunday, Chinese Commerce Minister Gao Hucheng told Hong Kong’s Phoenix TV that Beijing would strengthen ties with Moscow in energy and manufacturing, predicting that Chinese-Russian trade would hit its target of $100 billion this year despite the ruble crisis. As the ruble’s value in dollars or euros swings wildly, Gao proposed moving away from the dollar in financing Chinese-Russian trade and instead using the Chinese currency, the yuan or renminbi.

[grendel25]

All things being equal, if your country has the most people then you should have the strongest economy.  Of course, all things are not equal and it's a topsy-turvy world.  Be that as it may, it shouldn't be such a surprise when countries with large populations and evolving socio-political climates demonstrate leadership and competition in global markets.

And... if you really want to fight terrorism you should hope that impoverished nations do better economically.  It's not just a statistical coincidence that poverty breeds terrorism.

[bornil267645]

Does Bitcoin have anything to do with it?

[picolo]

China is developing and has much ground to make up from the past losses to trade.  USA is more in decline because of its overburden to government, it must consolidate and resolve conflicts in its economy between what works and does not.  I expect that is why China would 'beat' USA in GDP growth.
Some admire the command economy idea and that China may advance because politics has the power to force it but I think most natural growth likely to succeed would be unforced and supported by people without duress

The US economy is still growing and over longer periods of time it is growing at a faster rate then China. Additionally the Chinese government is more burdened by government intervention (by far) then the us is; many companies are state owned, there are horrible capital controls and a huge amount of corruption

Corruption is fought, very high profile politics end up in prison which never happens in the USA.

The US economy has a slower growth rate than China every single year for at least the last 30 years : http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?page=1

Government intervention is too big and the Communist Party is fighting free speech but their actions are working for the Economy.

[botany]

Does Bitcoin have anything to do with it?

Bitcoin might not have anything to do with it. The point is we also have to look at emerging markets like China to increase bitcoin adoption, and not just focus on the US alone.

[sgk]

Two interesting takeaways from that article:

Think of it this way: why shouldn’t 18% of the people on the planet have 18% of the economy of the planet?

Total economy divided by the number of people who get to consume the output.
Here the US is well ahead (north of $50,000 a year in the US, only just over $5,000 a year in China and yes, that is after adjusting for price differences)

[picolo]

Two interesting takeaways from that article:

Think of it this way: why shouldn’t 18% of the people on the planet have 18% of the economy of the planet?

Total economy divided by the number of people who get to consume the output.
Here the US is well ahead (north of $50,000 a year in the US, only just over $5,000 a year in China and yes, that is after adjusting for price differences)

China will grow to be 18% of the world economy then some.

[picolo]

Maybe china become number 1
But, still too many people with income less than $1 in a day 

Let's hope china can change world become better & better

2009 : Live less than $1.25 a day : 11.8% (157 million) : less than 10%

[STT]

In India it was one third of the country below 1 dollar not that long ago, it has improved but I think it remains far higher then China.   In theory India is a faster growing economy as it has the working population increasing still where as China is now in decline in their raw labour capacity. Of course China will still expand from development and industry increasingly refining its output and becoming efficient but eventually set on its path now China will meet Japan in a similar decline of retired vs working productive capacity

[screwUdriver]

Maybe china become number 1
But, still too many people with income less than $1 in a day  

Let's hope china can change world become better & better

Much of China's gains in the size of economy size is the result in their residents living in a higher standard of living. Most people in China still live in a very low standard of living when compared to the West so they probably do have some room to grow

[picolo]

Maybe china become number 1
But, still too many people with income less than $1 in a day  

Let's hope china can change world become better & better

Much of China's gains in the size of economy size is the result in their residents living in a higher standard of living. Most people in China still live in a very low standard of living when compared to the West so they probably do have some room to grow

Even the poor got richer in China.

[STT]

Is that true in the countryside where they farm rice or whatever, because it seems like they have to leave home and everything they know to take a shot on living in a distant city and maybe even in a factory just to start themselves off on any capitalist type improvement.      India can also be extremely diverse and separated in success from rich to the poorest, they still have sects in India where the people farm rats to eat as food and are considered unemployable.
  Its very sad to see people cut off from the world like that and I'd hoped more then any personal idea of profit that bitcoin was an idea that helped link isolated communities

[picolo]

China is developing and has much ground to make up from the past losses to trade.  USA is more in decline because of its overburden to government, it must consolidate and resolve conflicts in its economy between what works and does not.  I expect that is why China would 'beat' USA in GDP growth.
Some admire the command economy idea and that China may advance because politics has the power to force it but I think most natural growth likely to succeed would be unforced and supported by people without duress

Interesting points but I think China succeeds because they are working hard, saving and producing when the US is producing less industrial products and going into more debt to keep the huge government going on a little longer.

[nwfella]

If you can't beat em...join em

Time to break out the ole Chinese to English Translation Guide and start practicing up on your Cantonese! :p

[picolo]

In the end China almost relies on the US for their money. If the US wouldn't pay China would loose lots of money. If the US decides not to buy stuff from China a lot of money would be lost for China.

The US pays China by going into debt and creating more Dollars that are depreciating in value. A lot of other people can consume, the Chinese people for example; not a lot of people can produce as much as China. It is harder to produce than consume.

[STT]

Production always rates over consumption.   China does not rely on USA because quite simply they could just use their own products for at least some use in their society.   Where as dollars are quite useless in the excess amounts they have been produced especially as without taxes on valid business there is not as great demand from tax payment for these dollars.   Raising taxes to balance out fiscal budgets is a failure and diverts business elsewhere, raising interest rates on the dollar debt would wipe out the budget also.   It seems quite clear USA has serious problems without China and other support like the oil trade external to USA being in dollars

Time to break out the ole Chinese to English Translation Guide and start practicing up on your Cantonese! :p

Or take the shortcut and marry a mandarin speaking women to help .   Problem for China is they have unbalanced male to female ratio, their population model is in decline and active labour force

[picolo]

Production always rates over consumption.   China does not rely on USA because quite simply they could just use their own products for at least some use in their society.   Where as dollars are quite useless in the excess amounts they have been produced especially as without taxes on valid business there is not as great demand from tax payment for these dollars.   Raising taxes to balance out fiscal budgets is a failure and diverts business elsewhere, raising interest rates on the dollar debt would wipe out the budget also.   It seems quite clear USA has serious problems without China and other support like the oil trade external to USA being in dollars

Time to break out the ole Chinese to English Translation Guide and start practicing up on your Cantonese! :p

Or take the shortcut and marry a mandarin speaking women to help .   Problem for China is they have unbalanced male to female ratio, their population model is in decline and active labour force

You are right, China is needing the US less and less everyday; the Yuan should appreciate and the Dollar should go down. Right now the Dollar is relatively very high, maybe higher than it will ever be in the future.