Saturday, 26 February 2011
The future of the US economy will probably be surpassed by the empowering growth of China very soon.
CitiGroup chief economist went public with a statement saying China will take over the US within nine years from now, and that China will be taken over by India in 40 years, leaving the USA in third place as the largest economy in the world.
Does this means the US is on a path to lose its status in less than a decade by China?.
As for India, who really knows what will happen in 40 years from now, however, we have a Chinese empire that is growing right before our eyes.
Is China really moving toward a more democratic model or are they using their authoritarian power to keep the people down. With recent events, particularity in Egypt, China has shut down the whole Internet, preventing people communication with the rest of the world. China is also using currency to manipulate in exports and subsidies, and all manners of technology transfer are blocked, overpowering the people and keeping communism very much alive! The economic potential treat is more present with military growth, taking over the economy of Taiwan, Australia, Cambodia, japan and other in the near future. Let’s not forget 800 million Chinese kicking our butts, is something to be concerned about.
Whatever happens in the near future, what we have to do is focus on are own problems.
We need to devote ourselves at having a proper political system that works. We have all the great elements needed in order to continue being a great economic power worldwide.
There’s a lot that can be done, we can encourage growth right here in are own nation, we can improve corporate tax or having a flat tax on corporations, and allowing corporations to make money over seas to repatriate profits and invest into jobs, research and future growth.
It’s obvious that the US economy is not optimized for growth right now, the policies that govern are states can definitely be improved, investing in research and creating new jobs is part of what it’s going to take in order to keep ourselves in the number one position.
For more stock market secrets