China is #3

[Guest Tony n Terrific]

The US economy is the largest in the world at $14T Japan is still second at $5.2T and China is closing the gap at $4.9T. In 20010 China should pass Japan based on their past growth the last 5 years.

I believe China growth will stall in coming years due the the fact that the US and other Western Nations are going to close their playgrounds for cheap Chinese goods.

 

http://money.cnn.com/2010/02/15/news/inter....cnnw/index.htm

Edited February 15, 2010 by Tony n Terrific (see edit history)

[Minister]

Also, the Chinese people are going to demand a higher and higher quality of life. I mean, eventually people are going to say, "Ok. We have enough money now. I'd like to stop living in a giant cloud of pollution and worrying about whether my milk is made of poison". That costs money and slows growth. But on the bright side, it will welcome the Chinese into a life of, not just wealth, but actual prosperity (which I think everyone deserves).

Edited February 15, 2010 by Minister (see edit history)

[Stepbrow]

The US economy is the largest in the world at $14T Japan is still second at $5.2T and China is closing the gap at $4.9T. In 20010 China should pass Japan based on their past growth the last 5 years.

I believe China growth will stall in coming years due the the fact that the US and other Western Nations are going to close their playgrounds for cheap Chinese goods.

 

http://money.cnn.com/2010/02/15/news/inter....cnnw/index.htm

 

 

I don't think I agree that China's growth will stall. Growth is a necessity for the CCP's legitimacy, and they will keep it going no matter what . The growth will only stall unless the CCP makes a big mistake economically. Right now it appears that they are handling things well. Latest was that they are increasing bank reserves in order to slow down lending.

[TLB]

Also, the Chinese people are going to demand a higher and higher quality of life. I mean, eventually people are going to say, "Ok. We have enough money now. I'd like to stop living in a giant cloud of pollution and worrying about whether my milk is made of poison". That costs money and slows growth. But on the bright side, it will welcome the Chinese into a life of, not just wealth, but actual prosperity (which I think everyone deserves).

 

I completely agree; this is the move from "developing country" to "developed." And I like your distinction between wealth and prosperity. I also see growth slowing (it can't continue to increase forever at the same %) but not necessarily stalling.

[celiothrkn]

Also, the Chinese people are going to demand a higher and higher quality of life. I mean, eventually people are going to say, "Ok. We have enough money now. I'd like to stop living in a giant cloud of pollution and worrying about whether my milk is made of poison". That costs money and slows growth. But on the bright side, it will welcome the Chinese into a life of, not just wealth, but actual prosperity (which I think everyone deserves).

 

Yes. There are already some manufacturers that are moving their plants to faraway places such as Africa, where the plants would be closer to the necessary raw materials - thereby eliminating pollution at home. Meanwhile domestic employees move higher up the value chain (i.e. design).