China May Overtake America As The World's Largest Economy By The End Of 2014

[FarCenter]

China may overtake America as the world biggest economy earlier than expected, by the end of this year, rather than by 2019.

New data from the International Comparison Programme, a UN statistical database which compares purchasing power across borders and currencies, indicates China’s size may have been underestimated.

The Economist says China’s purchasing power parities (PPP) is now up to 20% higher than economists had previously estimated in the 2005 survey.

And, according to The Economist’s calculations, China will now take the crown as the world’s largest economy by the end of 2014.

Read more: http://www.businessinsider.com.au/china-may-overtake-america-as-the-worlds-largest-economy-by-the-end-of-2014-2014-4

Even if the Economist's calculations are right, the population of China is 4.5 times that of the US, so GDP per capita is less than a fourth of the US'.

[onehandle]

1. The 1% is complicit in China's rise and America's downfall. nt

[dipsydoodle]

2. GDP per capita

If you use that then Qatar leaves the US standing. http://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD

[The2ndWheel]

3. They have more than 4x the population of the US

It really hasn't been all that fair that 5% of the world's population within the borders of the US has had it so good for so long.

Sure, less than 5% of the US has had it that good, but even decades ago, when the US middle class was the be all-end all, it wasn't fair then either. There's only so much pie to slice up. Then the bigger we make the pie, the more prominent our environmental issues become. Can't win, but can't stop.

[pampango]

10. Exactly. The only way to avoid China having the largest economy would be for Mao II or an extra Kim

from North Korea to come to power in China and drive their economy into the ground as it was a few decades ago and as NK's is today.

For many conservatives the good ol' days were when China had no economy (at least in terms of any influence on the international economy) thanks to Mao and his paranoia about having total power. National economic self-sufficiency was his goal (who wants foreigners complicating your dictatorship?) as it was with Hitler and Stalin (for much the same reason).

Europe and Japan were still rebuilding from the destruction of WWII and the USSR was a military power but not an economic one. The US had the world pretty much to itself economically for several decades. It felt good and was good for us; probably not so good for the other 95% of the world's population. Such an arrangement was neither "fair" nor destined to last indefinitely.

[kimbutgar]

4. China is doing things and the US is paralyzed by political partisanship and obstruction

The Koch's want the US to fall so they can take it over with their paid kochsucker.

As much as the right wants to blame President Obama they are the ones who are really to blame.

[FarCenter]

8. A single-party democracy is much more effective economically

Examples include post-war Germany under the CDU from '49 to '69, Japan under the LDP and South Korea.

In the US, eras of rapid advance include the Republican era from Lincoln to Taft, and the FDR/Truman era.

[City Lights]

5. Thanks, corporate America.

[LittleBlue]

6. The Middle Kingdom is just taking back what it had for most of history

As it continues to grow, I will be amused to see how much deference we give them in Asia.

Our pivot reminds me of the War of 1812. The master vs the apprentice who will inevitably surpass him.

[oldandhappy]

7. Thanks Tea Party

[whatthehey]

9. Shouldn't bother anyone in the slightest

The societies which routinely score the highest on quality of life metrics have never been those at the top of the GDP charts. I'd be more interested in competing with Northern Europe on those charts than China on raw output lists.