Will China Be The World's Dominant Economic Power Five To Seven Years From Now?

Americans Say America Is Still No. 1, For Now -- Bob Davis, Wall Street Journal

Global GDP numbers tell a clear story: The U.S. is the world’s No. 1 economy. By a wide margin. U.S. GDP is about twice China’s. When measured on a per-person basis, the U.S. has an 8-to-1 edge over China.

But a lot of Americans don’t see it that way. The latest piece of evidence comes from the financial website, The Street, which polled 1,005 Americans and asked them which country is “world’s dominant economic power.” Twenty-eight percent of those polled chose China, while 59% chose the U.S.

Looking ahead five to seven years, those polled were a lot less confident in the U.S. position. By 2018 to 2020, 36% said China would be number one, compared with 43% for the U.S.

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My Comment: In China .... the overwhelming sentiment is that in a decade or two they will be world’s No. 1 economy. As to what is my take .... China still has a long way to go before becoming the global economic powerhouse that they like to see themselves as.