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Trump's policies could enable America's economy to outpace China's

 
LoneStarRisingModerator
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08/20/2018 07:36 AM

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Trump's policies could enable America's economy to outpace China's
The great engine of American capitalism is once again firing on all cylinders, as shown by the 4.1 percent annualized growth of America’s gross domestic product (GDP) in the second quarter of this year.

Most Americans (with the exception of Democrats in Congress) are celebrating the good economic news. There is quiet rejoicing in many European and Asian capitals as well, since their mostly sluggish economies will now be drawn along in America’s powerful wake.

But there is one capital where the American economic renaissance is definitely not welcome news. Consternation reigns in China, where President Xi Jinping is nervously watching his “China Dream” of dominating the United States go up in smoke.

You see, surprising though it may sound, America’s economy may now be growing at a faster clip than China’s. And this changes everything.

Until recently, the Chinese economic juggernaut seemed unstoppable. Once China joined the World Trade Organization in 2001, its GDP exploded. Unfettered access to American markets – combined with predatory trade practices – allowed China to grow an economy only one-tenth the size of America’s to one nearly two-thirds as large.

Xi Jinping confidently predicted continued robust economic growth. He promised his people that in the decades to come China would dominate manufacturing, hi-tech, trade and just about everything. He said that by 2049 the Chinese economy would be three times the size of America’s.

China’s rise seemed so inexorable that in 2016 Bloomberg News even predicted the exact year that America’s economy would be eclipsed by China’s. It was a virtual mathematical certainty, its analysts calculated, that in 2027 the Chinese dragon would overtake the American eagle and never look back.

The prediction was based on two seemingly reasonable assumptions: First, that China would continue to grow its economy at 6.5 percent a year. Second, that America would struggle to maintain the anemic 2 percent growth of the Obama years.

Both assumptions have been dramatically proven wrong.

[link to www.foxnews.com]
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08/20/2018 07:41 AM
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Re: Trump's policies could enable America's economy to outpace China's
Oh the WINNING. THE WINNING!
It's in the Blood

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08/20/2018 11:09 AM
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Re: Trump's policies could enable America's economy to outpace China's
bumpw
It's in the Blood

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08/20/2018 11:09 AM
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Re: Trump's policies could enable America's economy to outpace China's
bump





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