Friday, September 12, 2014

America Will Soon No Longer Be No. 1

(Click on Image to Enlarge)

America Is On The Verge Of Losing Its Place In The World As No. 1 -- Business Insider

The U.S. economy is the largest economy in the world.

But it wasn't always the largest.

And it's unlikely to remain the largest economy for much longer.

The chart above comes to us via Deutsche Bank's Jim Reid.

"As Alexander, Rome and Britain fell from their positions of absolute global dominance, so too has the US begun to slip," Reid writes in a new note to clients. "America’s global economic dominance has been declining since 1998, well before the Global Financial Crisis. A large part of this decline has actually had little to do with the actions of the US but rather with the unraveling of a century’s long economic anomaly. China has begun to return to the position in the global economy it occupied for millennia before the industrial revolution."

One look at the chart and it's pretty clear that it may not be very long before we start saying the U.S. is No. 2.

Read more ....

My Comment:
Zero Hedge has a good explanation on why the above chart is important to Russia and China .... and on why they are "banking" on it. The link is here.

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