Chasing the Dragon: 'China will overtake US as world's largest economy'
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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. RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday Like us on Facebook http://www.facebook.com/RTnews Follow us on Twitter http://twitter.com/RT_com Follow us on Google+ http://plus.google.com/+RT RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 500 million YouTube views benchmark.
Comments
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"Expert" on China?? James Corbett??? A Canadian english teacher??
You kidding right RT?? Why am I not surprised, it always was more of a ideological conspiracy alternative news media than an actual factual media. ROFL!! -
You-tubers, just for you knowledge china stated this in 1998, 2004, 2011 that it will overtake USA in economy but hasn't done yet and will never due tons of factor evolving. Factors are not only militarily nor currency but Hollywood (revenue of $100 billion.year), Oil dedicated states (taxes, Oklahoma, Alaska, lousing, California, Wyoming which produces more jobs than entire nation in 10 years that in 1 year) , most famous companies (Microsoft, apple, Facebook, Google, Java, Oracle, Shell...etc) , EDUCATION (MIT, Harvard, Stanford, Yale < best business & economics school in the world), population control ( almost 1/3 of china) , most recognized real estate business in the world, good relationship with Saudi-Arabia, UAE, Kuwait, Canada, European Union on trading. It all matters man!!
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China is building the world by engineering, the US is ruining the world by weapons. That's the difference between the two super power.
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USA GDP = More than 14 trillion last year.
China's GDP about 5 trillion.
China is way behind the USA and will remain a sweat shop for the manufactured products that the USA needs very cheep. China pays their people about a Dime per hour. These people are nothing but third world and have a long way to go. Their people are starving to death except in the big cities. Commoners are pitiful. RT is a lie. After the coming election the USA will prosper again when the democratic party becomes obsolete. -
China as a nation is very powerful, but most Chinese will never see any benefit from that. For every millionaire driving a brand new Mercedes in Shanghai, there are 10 peasants picking rice in a field. The average wage in China is only US$9000 and 80% of Chinese live in dire poverty by Western standards. It is disgraceful that the government spends billions on a space program while most of the Chinese population live in conditions not fit for animals.
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China is far from surpassing the U.S. and can do so only if helped by our failures. GDP is not a measure of economic well being, it is misleading measure of annual domestic output. It discounts imports, no matter how vital they are, and counts government borrowing as always positive, because only the current year is relevant. Because it is merely an accounting device, changes in GDP do not cause anything—employment, inflation, nothing.
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Britain had 19th century, USA had 20yh century and Asia will dominate the 21st century they are already the unofficial largest economy in the world and there technology is the most advanced in the world they need to work on there engineering though.
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FUCK USA
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Nobody wants this war! You can thank the bankers for this. But it leads to a much more sinister past. Unfortunately I have relations in the US and I hope they get out of there soon!
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Not really. The Chinese are expected to have a fully modern navy by 2020. Many of their newest anti-ship missiles are fully Chinese in origin. Coupled with revelations that China has stolen some of the US's most secret weapon designs (F-35, etc.), I expect China to both spend more on their military and to have equaled or surpassed the US in terms of technology by 2030 (perhaps by 2025).
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Great news and about time other powers overtook the US
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Beware of the revenge of the dragon empire !
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But there is a Chinese restaurant in every town and city of the whole world.
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China is loving its Coca Cola McDonalds and KFC. American consumer items flood the streets of China's greatest cities.
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No it's not. At the current pace of funding increases, the Chinese will overtake the US in terms of military spending by 2025-2030. By 2020, China will have a fully modern Navy and air force equipped with stealth fighters. Due to immigration, the United States will cease to be a democracy very shortly as the amnestied block-vote democrat. Already, Eric Holder and NSA head Clapper can perjure themselves and face no consequences...and the IRS can attack political enemies of the regime.
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keep in mind European nations took over many countries in Asia and Africa by force
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Welcome to the New Empire of the 21st century.
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Yup.
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1.3 billion is almost 2 billion? Thats news to me...
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LOL, doubt India will even be number 4. India has yet to surpass Italy for God's sake.
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