Posted on 05/01/2014 1:59:51 PM PDT by expat_panama
According to a World Bank report released Wednesday, the United States is on the cusp of losing its economic global supremacy for the first time since it took the crown from the United Kingdom in 1872. But after their last report in 2005 found that China’s economy was only 43% as large as the U.S., criticism forced the World Bank to politically correct their statistical data. The new World Bank analysis magically revealed that China’s economy had grown to 87% of the size of the U.S. by 2011 and will be larger than the U.S. this year. American’s should ignore today’s bogus headline; China’s $8.2 trillion gross domestic product (GDP) in 2012 was only 51% of the size of America’s $16.2 GDP. It will be a long time before China takes away America’s economic crown.
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What the World Bank study conveniently forgets to mention is that prices in China and other collectivist countries are “administered.” That means the government in China buys commodity foodstuffs from farmers at a premium price to curry political favor with rural constituents. The government then sells those commodities to McDonald’s to make Big Macs at a highly subsidized price to curry favor with urban constituents.
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(Excerpt) Read more at americanthinker.com ...
—like what Paul Harvey would’ve called ‘the rest of the story’.
“Bogus World Bank Report?”
Leave me out of it! I had nothing to do with that report!
“What the World Bank study conveniently forgets to mention is that prices in China and other collectivist countries are “administered.”
Kinda sounds like us.
tx, missed that one!
If the China economy is not now larger than the economy of that territory on the North American continent once known as “the United States of America”, it soon will be.
There is a very large and pervasive effort to shrink the growth of this territory by all means available. The Current Regime is squandering its political, moral and financial capital in useless and unproductive schemes to control global warming, exercising an epic failure to provide health care “coverage” to millions who neither want nor are willing to pay for it, pledging to involve the sadly demoralized and soon to be vastly undersupplied military forces at its disposal in foreign involvements without clear national interest.
We just do it better...
‘Merica.... yeah...
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