Posted on 04/17/2005 10:44:32 PM PDT by Destro
"China's high growth rate will allow it to match the United States economically by 2020, perhaps sooner if the USA suffers a major economic setback by failing to address its massive current account deficit (budget and trade imbalances.)"
LOL
Same 'ol same 'ol. What makes the US competitive is lower taxes. Yes, maybe some of the entitlement programs will go bankrupt, but not the country itself.
Some people just cannot get around the idea that the deficit will shrink by decreasing federal spending, not taxing at a higher rate. Guess which Party is poised to govern the nation for the forseeable future? Not the one the author of this article supports, I reckon.
You mean the party that has grown the Federal govt to a size no Democrat even imagined when LBJ ruled the roost? What fantasy Republican party do you support - I want to support that low spending and low taxing party, too.
Unfortunately that group includes the current Republican Congress and Republican president!
As for the article, the analysis was horrible. The US might have some stiff competition in 25 years (or not), but 4th place? C'mon!
What you mention is a problem, it would seem. But why not lower taxes *and* increase spending? Everyone's happy, the government goes bankrupt, and then we can begin anew.
Do you really believe that congress can ever significantly reduce spending willingly? No. Financial calamity will bring the issues to the fore, and when that day comes, let's hope FDR II doesn't happen.
Right. And all you have to do is ignore the fact that the GDP gap between the US and the EU has been growing steadily since 1990. Due, in no small part, to the increasing productivity gap. And due to the fact that, as large as the public sector is here in the US, it's peanuts compared to the EU - that's all dead weight that the economy is yoked to. Not to mention the demographic problems over there. If you think the Social Security/Medicare crisis is going to be ugly here, it's nothing compared to what's in store for the Euros. They're not reproducing in the kinds of numbers required to fund future entitlement programs, so the only solution is massive immigration. Well, rotsa ruck with that - hope it works out for 'em. Oh, yeah - they're really well positioned for the next century. Ha.
What a bunch of tripe.
The sick man of Europe is Europe, and their economy will remain stagnant for years to come.
The incessant regulations and high taxes in their "social democracy" make growth and innovation costly and without reward.
Many countries in Western Europe especially have been either in recession or on the brink of recession for the past five years. They also face a huge pension crisis as their population ages and the birthrate plummets.
Of course China will have a larger GDP than the United States eventually, 1 billion people live there!
But on a per capita basis they won't come even close, especially not in 2030.
Lies lies and more lies. The US GDP is approximately 11 trillions dollars (1/3 of the world GDP). The GDP of all the 25 countries that make the EU is approximately 8.5 trillion dollars.
This article is written by a delusional moron who just want write what he sees in his wet dream. The US will remain by far the only superpower for many years to come.
China is # 1 in 2030? really? Are they going to take their 1.1 billion people (out of 1.2 billion) who make less than $ 2000 a year and make then make $ 20,000 a year. China is the most overrated economy in the world.
Socialist EU? with an current unepmloyement rate over 10% (Germany 12.5%, France over 10%) the socialist EU are heading more and more toward non existence. And when the EU decide to arm themselves, they will go bankrupted.
India? Yep a country where you have to close your mouth when showering for fear of getting sick is going to be a superpower? 90% of India live in total poverty, i.e. struggle for FOOD.
No. That is why I think America will do what the Athenian Democracy did after the defeated Persia but had all those expenses from that war to pay off - the Athenians turned their alliance system into a tribute paying system - payment of tribute to Athens ensured by Athenian marines.
The tribute payed for the building of the Parthenon.
Since Americans are addicted to govt. programs and the govt. is addicted to spending non existant money on said programs - deep down inside I feel in 30 years America will begin to charge a "protection tax" as tribute to pay our way. A few 100 million dollars per annum per nation sounds reasonable.
And America's differs how with our current problems with declining Euro-American populations and rising Latin American immigration?
Just a couple decades ago Brazil was seen as becoming a superpower by now. Things happen.
The Japanese are in dire straits in the future, but for them, immigration is less palatable than in much of the rest of the world. The alternatives are to simply fade away, have some sort of controlled immigration scheme, or...well, take a drive around the ghettoes of Paris sometime, and you'll see what the third alternative looks like.
This is nibbling-around-the-edges stuff, though - the problems of the US are roughly the same as the problems of the EU. But they're very, very likely to be much more severe in the EU than in the US.
It's pessimistic to think that Mexicans will veer heavily towards the Democrats over the long haul. Majority, sure, but given that many of the illegals actually want to work and create wealth, whereas the Democrats wish to take it and recycle it back a bit, I have more faith the illegals to be more pro-growth than the lefties.
And that's not even to mention that if the GOP can maintain power, people will have to switch, or be left in the cold.
The party can't change the activist courts overnight who permit illegals to obtain drivers licenses and to vote, but over time those judges will be rotated out. Same with making laws that can create disinsentives to come over the border, such as prosecuting companies that hire them - it takes time to get this kind of agenda across.
On another note, if the worse does start to happen in Europe, with the tightening economies and hostile immigrant bloc, expect "white flight" on a global scale, and for significan numbers of Europeans to move to the US. If that happens, let's hope they leave their statism behind.
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