AOL: …China, the world’s most populous country, has overtaken America to claim the title of world’s number one economic powerhouse, according to the International Monetary Fund (IMF).
By year’s end, China’s economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion.
Just over a decade ago, in 2000, the Americans produced three-times as much as the Chinese, MarketWatch noted. The Chinese economy was one-tenth the size of the U.S. in 1980, according to the Financial Times (FT)… (more)
EDITOR: It is not politically correct to say, but the Chinese leadership deserves a lot of credit for what they have accomplished over the past seven decades. Meanwhile, we continue to shoot ourselves in the foot withi dumb wars, run away health costs, and foolish economic policies.
