Sunday, December 21, 2014

Dean Baker — China and the United States: Who Is Number One?

China pulls ahead in PPP GDP and China is still a poor country whose economy lacks the depth and breadth of a developed country's economy. China has huge room for economic growth. When it's economy is comparable to that of the developed world, it's GDP is estimated to be about four times that the US.

India, too.

This promises to be the Asian Century if global development proceeds apace. Of course, as countries develop the quick pace levels off. But still, the end point is two economies four times the size of the US, and twice the size of the now developed world.

Assuming unlimited resources and no negative externalities, no major conflicts that destroy large quantities of capital, and that China and India have the organizing power.

Beat the Press
China and the United States: Who Is Number One?
Dean Baker | Co-director of the Center for Economic and Policy Research in Washington, D.C


Matt Franko said...

Doesn't this guy have anything better to write about?

Anonymous said...

Our children and grandchildren all need to be learning some Asian languages.

Tom Hickey said...

The good news is that Asian culture is extremely rich and Asian languages are really a necessity in accessing the nuance of the ancient cultures of China, Japan, and India, even though English is the lingua franca in country with many dialects. Most Indians don't know Sanskrit but there is a push on now to revive this "dead" language that underlies the Prakrit languages as Latin underlies the Romance language. The West will be much better off with this exposure, just as the East will be enriched with exposure to the culture of the West.

The great leveling that is taking place now through globalization will result in a global economy and global civilization but it will be enhanced by cultural diversity that will result in cultural fusion, on one hand, but also regional differences, similar to the rather homogenous American culture that is differentiated regionally.

Ryan Harris said...

Forget the children and grandchildren.