China’s coming on strong while our leaders chase the terrorists across the globe.
Recently much international press fanfare was generated acknowledging that China had replaced Great Britain as the world’s fourth largest economy.
Nobody argues nowadays that China has the highest growth rate of industrialized economics posting annual growth rates in excess of 8.5 percent according to The International Monetary Fund. The World Bank predicted recently that China’s economy will grow 10.4 percent this year and 9.3 percent in 2007.
In contrast, the United States is in the 2 to 3 percent range.
What’s not been said by our less than candid leaders is that China is already the second largest global economy and has held that spot for sometime and catching the U.S. very quickly. The Chinese economy is already 72 percent the size of the U.S. economy.
One only need reference the 2006 CIA World Factbook. There it is for the whole world to see.
A country’s economic output is measured, and compared to other countries, by a standard known as GDP, or Gross Domestic Product, which is measured in two ways, one by...
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