Anonymous
Anonymous asked in Politics & GovernmentPolitics · 9 years ago

China will overtake America as a world economic power by 2017 economists say?

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  • 9 years ago
    Favorite Answer

    In terms of pure GDP number, the general consensus is about 15-20 years (according to estimates by the World Bank, Goldman Sachs and others). So your projection is off by 10-15 years.

    In terms of GDP per capita, it will take them much longer, if ever. China's GDP per capita is around $7500 at #93 (Cf. USA = $47,123, at #6). They are even lagging behind countries like Iran ($11,024, at #72), Jamaica ($8,811, at #87) and Thailand ($8,643, at #89).

    Besides, it's hard to imagine for China to maintain its growth rate of ~10% for that long. It's gonna slow down.

    Source(s): List of countries by GDP (PPP) per capita: http://en.wikipedia.org/wiki/List_of_countries_by_...
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  • Tyler
    Lv 6
    9 years ago

    Yup. The Chinese are coming. They already surpassed Japan in 2010 for the first time in 40 years. Next up, United States.

    "Rayhere" EU DOES have larger economy already than USA. No kidding.

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  • Anonymous
    9 years ago

    I think that may be a little early... but 1 billion people... that's hard to beat from a workforce perspective...

    that's a lot of workers, which means cheap labor and possibly very high quality labor, as companies have a very large supply...they can pick the best...

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  • 9 years ago

    I don't care. Why should I?

    Once they started freeing up markets, it was inevitable that people would be able to drag themselves out of poverty in droves.

    And since they have 3 times as many people as us, each Chinese person only has to be 1/3 as rich as an American citizen for our economies to be the same size.

    It really is just meaningless math.

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  • Anonymous
    9 years ago

    A lot can change in 6 years, but it seems like its bound to happen. China has a lot more people and is bound to pass the US at some point unless something big changes.

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  • 9 years ago

    If they stopped buying our bonds the US would fall by next week and China would be number 1.

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  • Anonymous
    9 years ago

    NO WAY, maybe by 2012 china will overtake USA

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  • Anonymous
    9 years ago

    We have been criticizing China for not being capitalistic forever. Now that they are we fear them because a country 6 times our size can outproduce us if they get a little better at it.

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  • Anonymous
    9 years ago

    This is constant wish of yours

    Look little guy we heard the same thing about the USSR

    About Japan

    About the E U

    Hell years ago Argentina said they would replace America

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  • Anonymous
    9 years ago

    I thought they already were an economic power. We're sure doing our best to make sure that happens.

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