A Bank of China branch under construction early this year in Guangzhou, Guangdong Province.
It’s Official: America Is Now No. 2 -- Market Watch
Hang on to your hats, America.
And throw away that big, fat styrofoam finger while you’re about it.
There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.
It just happened — and almost nobody noticed.
The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.
As recently as 2000, we produced nearly three times as much as the Chinese.
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My Comment: This news is HUGE!!!!! But for the moment .... everyone in the main stream media is ignoring this news story from the IMF .... everyone.
Of course they are. To properly inform or discuss this, would require that every Media Meme of the past 20 years would have to be discarded.
ReplyDeleteThe tricky part, going forward, is that every time in the past of human history, that there has been a realignment of economic power amongst nation states, there has been a World War, as the loser tried to shore up what they have lost.
With Nukes, Humanity cannot afford a war.