I read an article from The Want China Times today about a study done by the web app follower website Flurry. If their methodology is accurate then this represents one of many small tipping points indicating that the Chinese economy is overtaking the US economy. Use of a mart phone is a reliable indicator of 'middleclassness'.
With a population of over 1 billion, it is inevitable that the size of the Chinese economy will overtake the US. I say inevitable because in all likelihood that will happen. It is conceivable that a resurgence in the US economy coinciding with a lull in China could keep the US on top. But I prefer dealing in reality, not fantasy.
What seems to be lost in the uproar over China, is that per capita GDP is not what's being reported. By that metric, the US is still far ahead of China. So while China is currently a place of growth and opportunity and the US is mired in economic and societal malaise, The US is still the wealthiest and freest large country in the world.
This may seem like hyperbole, but one look at the Economic Freedom Index shows this to be the case. Singapore and Hong Kong are indisputably the most free economies in the world. But their politic rights are much less robust. And more importantly, particularly in Hong Kong, these places exists solely at the leisure of their neighbors. Canada, Australia and Norway certainly have liberal economies, but those economies are utterly dependent on natural resource exports.
No matter what China does in the future, much like Japan, it will be utterly dependent on foreign imports. While The US will continue to be a trading nation, importing large amounts of goods, there are no goods that it's economy can't produce. Virtually every natural resource can be found in abundance in The US
With a population of over 1 billion, it is inevitable that the size of the Chinese economy will overtake the US. I say inevitable because in all likelihood that will happen. It is conceivable that a resurgence in the US economy coinciding with a lull in China could keep the US on top. But I prefer dealing in reality, not fantasy. What seems to be lost in the uproar over China, is that per capita GDP is not what's being reported. By that metric, the US is still far ahead of China. So while China is currently a place of growth and opportunity and the US is mired in economic and societal malaise, The US is still the wealthiest and freest large country in the world.
This may seem like hyperbole, but one look at the Economic Freedom Index shows this to be the case. Singapore and Hong Kong are indisputably the most free economies in the world. But their politic rights are much less robust. And more importantly, particularly in Hong Kong, these places exists solely at the leisure of their neighbors. Canada, Australia and Norway certainly have liberal economies, but those economies are utterly dependent on natural resource exports.
No matter what China does in the future, much like Japan, it will be utterly dependent on foreign imports. While The US will continue to be a trading nation, importing large amounts of goods, there are no goods that it's economy can't produce. Virtually every natural resource can be found in abundance in The US





