China has now displaced the U.S. to become the largest economy in the world. Measured by the more refined yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-sixth larger than America’s ($24.2 trillion versus the U.S.’s $20.8 trillion). Why can't we admit reality? What does this mean?
This week, the IMF presented its 2020 World Economic Outlook providing an overview of the global economy and the challenges ahead. The most inconvenient fact in the Report is one Americans don’t want to hear—and even when they read it, refuse to accept: China has now displaced the U.S. to become the largest economy in the world. Measured by the more refined yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-sixth larger than America’s ($24.2 trillion versus the U.S.’s $20.8 trillion).
Despite this unambiguous statement from the two most authoritative sources, most of the mainstream press—with the exception of The Economist—continue reporting that the U.S. economy is No. 1. So, what’s going on?
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Update #1: China's economy is the envy of the world (CNN)
Update #2: China GDP: economy grew by 4.9 per cent in third quarter of 2020 (SCMP)
WNU Editor: According to the IMF, China's economy is $24.2 trillion versus the U.S.’s $20.8 trillion. This is a major change for the IMF, which always put the U.S. as number one (see here). Is this all accurate? When it comes to China and its data I am always skeptical, and I am not alone .... Can China’s reported growth be trusted? (The Economist). But it is also true that China's economy has grown incredibly in the past two decades, and its growth will continue. So while the U.S. is in my opinion still the world's largest economy, its days are numbered.
7 comments:
Wait what? The Chinese last year were far behind. Man, this novel virus that totally naturally befell the earth REALLY paid off for China
I'm sure it's coincidence lol
We are at war
"Rich country; Strong Defense" - CCCP
"As much as we can grift" - DNC
So... just asking for a friend with crazy hair... he's big in construction.. or was.. anyways...
What do you think is a good number.. how many nukes for China? (He likes big numbers.. historic... huge)
The Chinese way of war is making you think you cannot win
Everything is fake
We all know, and as has been reported here, the Chinese faked their GDP by up to 30% for more than 5 years. No waaaaay they just overtook the US.. and just before the election this "news" is pushed on us and we ought to believe it
Satellite pictures show that in/outbound ship to and from Shanghai is down by 80%. That's not a sign of a healthy or growing economy. That's the sign of an economy in free fall. We are supposed to believe in the Chinese currency and some people do. Enough leftist media, bought by China, is pushing this lie but it's not based in reality
So if you make a deal with Chinese, do not accept their currency and if you trade in gold, verify the gold is real. We all saw the 30 billion faked gold news just two months back.
It doesn't add up
8:55 yes, absolutely. They're still dangerous, but the conventional wisdom about them is as accurate as a US political poll.
Fake baby liar nation, now being exposed for what it is. Maybe someday. It takes generations to develop a modern nation. They forgot that part. You can copy the top dog all you want, but in the end you're just a cheap copy. After all these years of careful planning, the CCP still doesn't understand--and actually undermines--grass roots innovation.
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