For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
IMF sees China topping U.S. in 2016
According to the latest IMF official forecasts, China's economy will surpass that of America in real terms in 2016 — just five years from now. Brett Arends looks at the implications for the U.S. dollar and the Treasury market.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Do you have any thoughts on the ramifications of this?
Answer by LoriKeet at 1:26 PM on Apr. 25, 2011
I'm not surprised either... I'm sad for my kids and terrified that we will turn into one of the starving, dictator run countries. Its coming, mark my words.
Answer by amazinggrace83 at 1:34 PM on Apr. 25, 2011
Answer by jesse123456 at 1:36 PM on Apr. 25, 2011
Answer by gdiamante at 1:39 PM on Apr. 25, 2011
Answer by LoriKeet at 1:53 PM on Apr. 25, 2011
What we have seen, he said, is “a massive shift in capability from the U.S. to China. What we have done is traded jobs for profit. The jobs have moved to China. The capability erodes in the U.S. and grows in China. That’s very destructive."
Yes, but more accurately, the job for the MANY and profits for the FEW. Greed will be the downfall of America You can not erode the job base and then complain when people are not working. You can not applaud and support greed riddled Corps who deplete the job base, and then simultaneously yammer on about folks who have no jobs, can not pay their bills, cover their health care costs and feed their families. It's counterproductive.
Answer by Sisteract at 1:56 PM on Apr. 25, 2011
Answer by Carpy at 3:32 PM on Apr. 25, 2011
Answer by momdonna2g at 3:38 PM on Apr. 25, 2011
Answer by Anonymous at 3:56 PM on Apr. 25, 2011
Eliminate the corp tax rate. Problem solved. America will become the place to do business in again
Nope. Not when COs can avoid the taxes, and many do. What Companies can not avoid are labor costs and associated benefits outlay- Jobs will not come back to the US until US workers are willing to work for what those in the Third world will accept.
Answer by Sisteract at 3:59 PM on Apr. 25, 2011