By the yardstick that both the CIA and the IMF have adopted as the single best measure of national economies, China now has the largest economy in the world.
By the yardstick that both the CIA and the IMF have adopted as the single best measure of national economies, China now has the largest economy in the world.
Can American and Chinese statesmen find their way to a relationship that is simultaneously a rivalry and a partnership? The Biden administration believes that its strategy of “competitive coexistence” is a big step in that direction
🐷 Quick! Invent another way to package mortgages!
The CIA metrics were big when I was in Econ classes
The US is struggling to even maintain its democracy, and all the while, excessive wealth extraction is strangling its economy. They're stagnating, so it's not at all surprising that a country with 4x the population would overtake it eventually.
What are you talking about "struggling to maintain it's democracy". Have you read the founding documents and the letters among the nation's founders? "We must protect the opulent minority. The Senate will be that body". The Electoral College. The 3/5s compromise was not a moral thing, it was a power thing - it gave slave owners more votes. The USA's democracy is functioning exactly as it was designed and isn't straying from that path in the least.
The US is not a democracy, it's a capitalist dictatorship.