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It’s a story that needs no repeating - the definitive economic, financial, and political issue of our time. The United States is fading into obscurity. Despite the fact that the country’s GDP totals only ½ of America’s, China’s taking over the world.
In short, “every week a new book title announces an “irresistible” tilt east, the emergence of “Chimerica” and a not-too-distant future when China “rules” the planet.” China’s winning. America’s a distant second.
Now, here’s the thing: it’s time to hold up on the “America’s declining/China’s taking over the world” rant. After all, remember Japan? The country Americans once observed with panicked fascination now sits on the world’s periphery, suffering from a deflationary hangover while struggling with how to deal with a nearly unsolvable demographics issue several decades in the making.
So, in short, while China is certainly a political, economic, and financial force to be reckoned with, the United States isn’t quite ready to secure its place on the silver podium.
Here, then, are the 5 key issues ailing China:
Source: Margaret Bogenrief, ACM Partners via Business Insider
star5112 / Flickr
Jan 23, 2013