Are the U.S. and China Trading Places?
By now, everyone has grown accustomed, if not physically weary, of articles extolling China's economic dynamism and rehearsing America's economic decline. While the United States is only now beginning to recover from the most serious recession in nearly 80 years, China skated through the global financial crisis essentially unscathed. Even if the growth of the Chinese economy now slows to 7.5 per cent, that will still be triple the rate of expansion of the United States, where growth in the wake of the crisis remains subdued. It will not be many years before China overtakes the U.S. in sheer economic size. And with this reversal of economic fortune will come a reversal of political fortune, as China assumes the leading role on the global geopolitical stage.
- Sign up to receive our free daily newsletter
- How the Hammer Falls as China Nails Corruption
- CNPC Continues to Be Hit by Scandal as Two More Executives Fall
- Market Reforms, Fight against Corruption Go Hand in Hand, Expert Says
- What Li Keqiang Asks in Meetings with Economists
- Why Do Foreign Brands 'Break Bad' in China?
- Alibaba Said to Delay New York Listing until after Labor Day
- Sheila Patel: Investors Should Be 'Positive' about China Stocks
- Graft Fight Will Take Years, U.S. Expert Says, but China Is Heading in Right Direction
- CDB Said to Get 1 Tln Yuan to Back Shantytown Renovation
- CBRC Approves Three Private Banks as Part of Pilot