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  • b_salming b_salming Sep 14, 2010 7:30 PM Flag

    China: $123 trillion economy by 2040, three times bigger than America

    China: $123 trillion economy by 2040, three times bigger than America

    All this became obvious while reading the Foreign Policy Journal. Earlier this year Nobel economist Robert W. Fogel of the University of Chicago published a feature article in Foreign Policy titled: "$123,000,000,000,000: Why China's Economy Will Grow to $123 Trillion by 2040."

    It's crucial to see why China is so successful, so prosperous while Americans are trapped in a paranoid self-destructive culture, why we're blinded, virtually incapable of thinking outside a box that's projecting years of high unemployment … as our suicidal war economy continues eating up roughly 50% of our tax dollars … as our ideological battles dig us deeper into debt … as our press keeps distracting us, focusing narrowly on self-serving warmongering wingnuts … as the actions of partisan leaders irresponsibly and unconsciously aid and abet China's grand strategy to replace America as the world's economic superpower … and as the Goldman Conspiracy sabotages us from within.

    Read this and weep, or get mad as hell: By 2040, in just one generation, 30 years, here's how Fogel sees the rapidly emerging new world order, with China as the world's sole superpower economy and America a distant second, a has-been on the global stage, thanks in part to the Goldman Conspiracy and its influence on so many bad decisions in recent years. Fogel warns:

    "In 2040, the Chinese economy will reach $123 trillion, or nearly three times the economic output of the entire globe in 2000. China's per-capita income will hit $85,000, more than double the forecast for the European Union, and also much higher than that of India and Japan. In other words, the average Chinese megacity dweller will be living twice as well as the average Frenchman when China goes from a poor country in 2000 to a superrich country in 2040.

    "Although it will not have overtaken the United States in per-capita wealth, according to my forecasts China's share of global GDP — 40% — will dwarf that of the United States (14%) and the European Union (5%) 30 years from now. This is what economic hegemony will look like" by 2040.

    Yes, in one generation China's economy will be almost three times bigger than America's economy while our kids, the next generation of Americans, will still be digging out of the war deficits we've been piling on since 2000.

    Fogel sees six reasons America will lose in this race with China:

    1. China is rapidly turning into a capitalist consumer economy

    Yes, "China's long-repressed consumerist tendencies" are exploding, says Fogel: "In many ways, China is the most capitalist country in the world right now." Get it? While we waste money fighting wars, while Goldman and Wall Street are transforming America into a plutocracy concentrating wealth in the hands of a few, China is becoming more capitalistic (and democratic).

    "In the big Chinese cities, living standards and per-capita income are at the level of countries the World Bank would deem 'high middle income,' with a clear, growing affinity for acquiring clothes, electronics, fast food, automobiles." That's China's future. Why? Because their new "government has made the judgment that increasing domestic consumption will be critical to China's economy, and a host of domestic policies now aim to increase Chinese consumers' appetite for acquisitions."

    2. China's political system is now more capitalist than America's

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