Actually it still is, but I understand what you're saying. The problem is that the US is no longer miles ahead of the rest of the world's economies, . . . and nothing lasts forever. It is our challenege to be better prepared than the Romans and the British were for an evolving world in which we will not be the single dominant power.
US GDP is more than 3 times bigger than nearest economy (Japan) and more than the next 4 combined (Japan, Germany, China and UK). If you go the PPP route (puchase power parity), then it's more than twice the nearest competitor (China) and more than the next three combined (China, Japan, and India). PPP basically attempts to adjust GDP for cost of living in the country in question. So, since it is cheap to live like a peasant in China, they get a boost when their GDP is adjusted for PPP. Some artificiality in PPP, since China, for instance, imports A LOT of stuff (resources, food, etc), and many, many are living in economic zones that don't match peasant status by any stretch. But, it's a useful comparison. BL: Nobody still comes close. China and India's growth rates have been astonishing. How long they can continue is up for debate. They have big, big social issues (imagine the baby boomer social security/Medicare problem times 50!). Source: World Bank
Yes, but those numbers are changing rapidly and the economic graphs and projections show that China is surging. According to Goldman-Sachs and Merril Lynch say the yuan is increasing steadily against the dollar. This would see China passing the US as the worlds biggest economy in 2020 and if the curve holds, doubling our economy by 2030! LINK Now and then, you make a very good point. :wink: This is a factor that is hard to predict. Overpopulation and economic evolution sometimes lead to civil war and revolution. It could flatten those curves . . . if things go that way.
Which is precisely why the Chinese won't give up on Communism - it's a hedge against internal political instability. I forget the numbers, but they have an insane number of public disturbances and protests each year, many, many of which are put down with brutal force. And I'm not even addressing Tibet or the Uighars. The next 20 years will be interesting, for sure.
