China's Century Starts Now

2013 · 2014-05-06T07:36:15+00:00

USA under very Black* President in the world's History against the Chinese white president Probable Obama ataweka rekodi nyingine safari hii kwa taifa la marekani. In any event, it was only a question of time before China became the biggest economy. Not to pile on the bad news, but in due course India will surpass the U.S. as well: The new figures vault it from 10th place in the global ranking to third, ahead of Japan and Germany. By advanced-economy standards, China and India are fast-growing economies, and they have huge populations. That's all you need to know: Demographics plus catch-up growth sooner or later ordain the outcome. The new figures don't mean that China is now rich. Its living standards won't approach those in the U.S. for many decades yet -- and the closer they get, the harder it will be for China to maintain its faster growth. While output in the aggregate rather than per-capita incomes is the main foundation of military strength and geopolitical power, technological supremacy counts for plenty, too, and in that regard, the U.S. is still far ahead. Nonetheless, history will deem China's surpassing of the U.S. economy a milestone. The map of the global economy is changing faster than many suppose. And with it, U.S. domination of the world could end sooner than expected, too. The need for global cooperation will no longer be a choice, or something the U.S. says to flatter its friends, but a simple statement of fact. The sooner the U.S. and Europe, whose relative weight is diminishing even faster, get comfortable with this idea, the better. And here's a small, easy step to start with: Reform appointments to global economic-policy institutions such as the International Monetary Fund and World Bank. It was already insulting that the U.S. and Europe appoint the heads of these bodies as though they own them, with a European running the IMF and an American running the World Bank by mutual agreement. The new map of global output makes this presumption of authority insupportable. HISTORY REPEATED: In the long span of history, the Chinese may see the new figures as heralding a return to normality: Their economy was the world's biggest until 1890, when the U.S. outgrew it. For Americans and their friends in Europe, the new rankings are a moment for reflection. The West's century-long economic pre-eminence, and the habits of thought and action that flowed from it, can no longer be taken for granted. nicholas, Eiyer, lifehacker, Khataan, gavana, Faiza foxy, Ritz, Hini, Elungata, crabat, et al. Guys why this happened to Kenyan?!!!!!!!111 China's Century Starts Now - Bloomberg View

Thread starter 2013
Start date May 6, 2014

2013

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China's Century Starts Now

2013

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