Friday, 15 March 2013

Chasing the Dragon: 'China Will Overtake US as World's Largest Economy'

Beijing's been rapidly growing over the last two decades - at a speed which has brought it close to the traditionally major economies - including the US and even allowed it to surpass Europe's powerhouse, Germany. That's slowed down a bit recently but, China's still expected to overtake the US as the world's biggest economy in 2017. The economic rivalry comes amid the battle for influence in Asia between the two.

Great clip except that China has already passed the US as the world's biggest economy when you factor in reality. The US is only bigger thanks to the financial fraudsters on Wall Street and those making up the official US figures in Washington.

How can the US have a larger manufacturing base than China when all their Wall-Mart goods are produced over there? The answer is they don't. More cars are bought in China every year than in the US and more luxury cars are sold over there too (see second half of the show from 21:45):

[Posted at the SpookyWeather blog, March 15th, 2013.]

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