China May Surpass the U.S. As the World’s Strongest Economy within Two Years While We Still Focus On Entertaining Ourselve
Posted Nov 11 2010 10:03am
This is a pretty scary statement to all of us living in the US, although this has been in the news for years and this is especially crucial in healthcare, where we can’t seem to get our act together here in the US. While there are almost more speaking English in China than in the US, this kind of sends a real hard message, they are using the internet to gain knowledge while we tend to focus on the side of the web that entertains us instead.
All those neat tablets that we like, well that technology came from China, going way back to the original Microsoft tablet pc technology, it came from their offices in China and now look where we are, everybody loves them and wants one and the IPad is made in China, so you kind of want to ask the question where are we and this is probably a real good indicator as to why our President is visiting Asia too. American insurance companies are investing in China to get more Chinese drugs and devices here in the US and globally, and here’s one example if you have not seen this yet from earlier this year. Take a serious hint as I keep saying company subsidiary actions matter today as they are not always here in the US. I post this information sometimes and wonder if any one pays attention. Sure you may not see all of this in the news but it’s happening with technology and data with superior business intelligence systems.
Many of the companies on the stock exchange are investing overseas and not just in US companies and they sit on all the money that has been redistributed in the US through the use of algorithmic mathematical formulas. Our Congressional luddites can’t seem to wrap their heads around this and still live in the 70s while everyone is growing around us.
While we have members sit around and fight with Google and are upset over privacy issues when they can’t lock down their own personal wireless units at home, we have a problem and they seem to stay stuck here and focus on small items by comparison that keep distraction alive from the real items at hand. I’m sure at times we are providing some great entertainment in the news front as we did with this last election. Myself, I don’t want entertainment anymore from Washington, but rather prefer leaders that can rise the occasion and “get it”.
The banks get it and thus so are moving forward and use their intelligence, why do they have all the money you might ask and we have an SEC for example that was asleep at the wheel. Banks like this as they can continue to use their intelligence gained through technology while the rest of us sit in lala land.
I hope we are at the point to where we can elect officials that can focus on our economy from a professional and intellectual standpoint rather than being entertainment for us here in the US and the world to mock. BD
What's going on with China and why should we care?
Well, according to the Conference Board , a prestigious global, independent business membership and research association, within two years China will surpass the United States as the World's strongest economy as measured by Gross National Product or GDP and when taking purchasing power parity or PPP into account.
I know that's a lot of information to take in. But that's the way professional economists talk. How about this? Right now, the U.S.GDP is about $15 trillion and China's is about $5 trillion. Going by current expected growth figures where China's economy is anticipated to grow at ten times the rate of the U.S. it would take China's economy another decade to pass the U.S. economy.
Why does any of it matter to you? Consider this. China already has enormous power over our economy. Take Wednesday. A Chinese rating agency downgraded U.S. debt and in a separate move China ordered its major banks to park more cash at the central bank. The immediate reaction? Both the European and U.S. stock markets fell. The U.S. market recovered somewhat later following better than expected jobless claims but the point had been made. When China talks, American and European markets listen.