Little-Acorn
04-30-2014, 11:55 AM
It was as inevitable as water flowing downhill and reaching the bottom.
The U.S. went into high gear in its efforts to put socialism in place in the 1930s, and have kept it up (with a few temporary reverses) to the present day.
China did the same from the 1940s thru the 1970s... but then reversed the trend in the 1980s and onward, and started freeing its people to make their own decisions, run their own businesses, and take responsibility for their own actions.
And now China is on the verge of surpassing the U.S. as the leading economy of the world.
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Death knell rings for 142 years of American dominance as China prepares to leap into first place as world's largest economy | Mail Online (http://www.dailymail.co.uk/news/article-2616806/American-dollar-hits-wall-China-prepares-leap-place-worlds-largest-economy-end-year.html)
Death knell rings for 142 years of American dominance as China prepares to leap into first place as world's largest economy
by Joshua Gardner and Associated Press
Published: 08:48 EST, 30 April 2014 | Updated: 10:20 EST, 30 April 2014
A report out of the World Bank shows rapidly expanding China is poised to overtake the once invincible United States as the world's largest economy by the end of 2014.
The International Comparison Program looks at exchange rates to reveal purchasing power of different currencies and found that yuan in China will soon pack more punch than the mighty dollar.
Meanwhile, Chinese officials bashed the report as flawed, likely for fear of losing its status as a developing nation and the pollution-spewing perks that come with it.
The U.S. went into high gear in its efforts to put socialism in place in the 1930s, and have kept it up (with a few temporary reverses) to the present day.
China did the same from the 1940s thru the 1970s... but then reversed the trend in the 1980s and onward, and started freeing its people to make their own decisions, run their own businesses, and take responsibility for their own actions.
And now China is on the verge of surpassing the U.S. as the leading economy of the world.
-------------------------------------------------------
Death knell rings for 142 years of American dominance as China prepares to leap into first place as world's largest economy | Mail Online (http://www.dailymail.co.uk/news/article-2616806/American-dollar-hits-wall-China-prepares-leap-place-worlds-largest-economy-end-year.html)
Death knell rings for 142 years of American dominance as China prepares to leap into first place as world's largest economy
by Joshua Gardner and Associated Press
Published: 08:48 EST, 30 April 2014 | Updated: 10:20 EST, 30 April 2014
A report out of the World Bank shows rapidly expanding China is poised to overtake the once invincible United States as the world's largest economy by the end of 2014.
The International Comparison Program looks at exchange rates to reveal purchasing power of different currencies and found that yuan in China will soon pack more punch than the mighty dollar.
Meanwhile, Chinese officials bashed the report as flawed, likely for fear of losing its status as a developing nation and the pollution-spewing perks that come with it.