Is America the Evil Empire ?

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royal744

Ad Honoris
Jul 2013
10,118
San Antonio, Tx
The growth rate of the U.S. is approximately 2% per annum. India and China are from 8 - 10%...
Please don’t make any rookie mistakes like this. Mature economies rarely, if ever, grow at the rate of nascent economies for the simple reason that we are already big economies and are highly diversified.
 
May 2018
424
Ramgarh
India? Give me a break. Not happening. For all the current hype about India, its educated classes and niversities are top-notch, but overall India is a poor country with an entrenched and hostile neigh or next door.

China? Maybe, but I doubt it. Probably the most likely candidate, but still a long way off.

Russia is not rising either. Canada has the 3rd largest oil reserves. The US may be the largest oil producer in the world today, but it matters little as the US economy is highly diversified. Can’t say the same thing for the Russians whose wealth comes from an extraction-based economy. Oil, however isn’t the key anymore: just have a look at Venezuela (with world’s largest oil reserves) which is on a rocket sled down to complete chaos.
The CIA World Factbook already states that China is the world's largest economy.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html#ch

India will overtake the US by 2050. Simple math.
 

stevev

Ad Honorem
Apr 2017
2,934
Las Vegas, NV USA
Last edited:
May 2018
424
Ramgarh
That's by PPP. By nominal GDP the US is still the largest AFAIK. PPP is based on domestic purchasing power.
I am well aware of that. But why do you think the CIA, whose job it is to evaluate foreign powers, use PPP?

In fact, their website explicitly states that nominal GDP can't be used for China because the Chinese artificially keep their currency at a low value. A charge Trump makes all the time.

If you look at different aspects of the world economy (largest car market, largest online market, largest trading country, (soon) largest movie market, etc) it is now China.
 

betgo

Ad Honorem
Jul 2011
5,982
Many of you travel the world, look how the rest of the world looks at us. They look at us a little naive, so fair, so decent. We are the naive Americans. that's who we are
I don't know what you guys are talking about. The above is from Biden's eulogy for McCain today. Fair, decent, and naive, obviously not an evil empire. I hope this is OK, as current news.
 
Jul 2014
1,531
world


In the past decade we have witnessed America's brutal invasion of Iraq and Afghanistan...
we are now witnessing military sorties into Pakistan..... with military drones that
can deliver death guided by lazer beam.... (no doubt guided by some of that space hardware too )

There's a big game going on here and 1000 or so civilians murdered
and burnt to death in Georgia .....does nt really matter in the big picture.

Is the American Military Complex out of control ?
Is America now the " Evil Empire " and like the Third Reich... intent on world hegemony....
and a New World Order ?
America was definately the EVIL empire in the 19th century but contemporary America is mostly a force for good. The promotion of values like free trade, womens rights and gun rights makes america a great nation and America will remain a great nation as long as they hold these values.
 

Guaporense

Ad Honorem
Mar 2011
5,047
Brazil
That's by PPP. By nominal GDP the US is still the largest AFAIK. PPP is based on domestic purchasing power.
The US has a larger economy relative to the rest of the world in nominal GDP than in PPP GDP because the US dollar is the world's reserve currency so the US dollar tends to be stronger than other currencies so the prices inside the US tend to be higher than in other countries.

However, if you want to measure REAL GDP you use PPP. The reason is that if you want to compare economies you should use similar prices for both: a PPP GDP comparison between China and US is made by using prices from China and the US to measure the value of output of both countries.

For example, in 2017 the Chinese GDP was 82,712 billion yuan while the US GDP was 19,391 billion dollars. The price of 1 pound of rice in the US is 1.78 dollars while in China was 2.92 yuan so in terms of rice the Chinese GDP was 2.5 times larger than the US GDP. However, the price of cheese in the US was 4.84 dollars a pound while the price of cheese in China was 42.27 yuan, so in terms of cheese China's GDP was about half of the US. By taking the prices of about 30 goods and using the expenditure weights of the US CPI I calculated a PPP of 3.61 yuans per dollar, this means that Chinese GDP was equivalent to 22,900 billion dollars in 2017. That is very close to the value estimated by the world bank.

Measuring the size of an economy by other kinds of measures such as industrial production the difference in size is even more pronounced than in GDP. In GDP the Chinese economy was 120% of the US's size in 2017.

In terms of manufacturing value added China added 3,591 billion dollars in 2017 while the US manufacturing added 2,161 billion dollars in 2016. So in terms of manufacturing China's manufacturing was about 170% of the US's.

Measuring in terms of sales of motor vehicles the Chinese motor vehicle market is 166% of the US's while in terms of electricity consumption the Chinese consumption is 152% of the US's.

So it's indeed the fact that currently the world's largest and most powerful economy is China: China has surpassed the US in terms of scale in all ways you can measure it.
 
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