From the article:
In announcing the rankings, Fortune noted a US National Intelligence Council report called Global Trends 2025 that said if the current trends continue "by 2025 China will have the world's second largest economy."
According to a 2008 study by the US research organization Carnegie Endowment for International Peace, China's economy will overtake that of the United States by 2035 and be twice its size by midcentury.
The Fortune ranking is based only on revenues, while other rankings use profits or other factors.
Think about that for a few minutes. In about 40 years Chine is expected to have an economy TWICE the size of the United States. By sheer volume they will be getting the best prices on resources and no doubt gobbling them up at a fantastic rate. While we sit around and transfer "carbon credits" they will be designing, making, and selling things. Their influence in the world will increase while ours decreases.
We send our manufacturing jobs to China because they are "cheaper". What that means is that the easily visible cost is less. The hidden cost is much higher. We still have some manufacturing capability. At some point we will have essentially zero manufacturing capability and then we will be in real trouble.
This isn't news but it is a sad reminder that if everything keeps going as it is then we are in serious trouble.
2 comments:
My attention span doesn’t last that long, Bitmap; not because I’m an average American with a memory chip of less than 1 kb, but because I’ll be long dead by then. I do agree, however, that if we had any clever people in government (and note, I never suggested any such thing), we’d be busy as little bees devising clever plans to sabotage the Chinese. For example, if we really want to screw up their long-range economic plans, we could send them Tim Geithner, Nancy Pelosi and Barney Fwank. Ha! Take that, you bastards.
Mustang, the long term will matter more for our children and grandchildren. I do worry about the mess and the debt we are leaving them.
I would love to send those people to China but that might be considered an act of war.
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