IMF Says China To Surpass United States In 2016

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China will become the world’s number one economy — and therefore most powerful nation — by 2016. Brett Arends provides some analysis at Marketwatch:

The International Monetary Fund has just dropped a bombshell, and nobody noticed.

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.

And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.

According to the IMF forecast, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.

But they’re miscounting. They’re only comparing the gross domestic products of the two countries using current exchange rates…

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  • Rex Vestri

    Blame all the politicians, corporations, and banksters that have been changing & gutting laws, robbing, and basically crippling the US over the last 30 years because of their own myopic greed.

  • Rex Vestri

    Blame all the politicians, corporations, and banksters that have been changing & gutting laws, robbing, and basically crippling the US over the last 30 years because of their own myopic greed.

  • Synapse

    Possible, but I’m also gonna say that a lot can happen in 5 years economically. The US could bounce back, or china could take it’s own plunge.

  • Synapse

    Possible, but I’m also gonna say that a lot can happen in 5 years economically. The US could bounce back, or china could take it’s own plunge.

  • MoralDrift

    If you didnt see this coming, you arent paying attention.

  • Anonymous

    If you didnt see this coming, you arent paying attention.

  • http://obaidkarki.blogspot.com/ Obaid Karki

    IMF Says China To Surpass United States In 2016 if United States grow up and support arab spring to invade china

  • http://www.facebook.com/people/Obaid-Karki/521768286 Obaid Karki

    IMF Says China To Surpass United States In 2016 if United States grow up and support arab spring to invade china

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