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arturodiaz's avatar

How much time do you think the US will remain the biggest economic power in the world?

Asked by arturodiaz (553 points ) May 12th, 2009

As Ive seen China growing at 6 percent and the US in a depression, As I see it is just a matter of time before China become the largest economic power in the world, not to say the largest politcal power…

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11 Answers

_bob's avatar

It’ll be a while.

Also, I’m not real sure about the reliability of Chinese statistics.

wundayatta's avatar

Fifty to one hundred years—if ever. They have a lot of people, but we have a big head start.

BookReader's avatar

…based on my observation of our u.s. economy, it will not completely rebound until our citizens minds make it so…if we believe, trust, and act as a flourishing economic powerhouse, then we will be…

…historically any country in charge of making u.s. toys and tech become the world banker- again on observation- taiwan, hong kong, japan, now china…

oratio's avatar

It depends on how you look at it. The EU is the largest economy in the world, and has the biggest export and the second biggest import after the US. But the EU is not a country, unlike the US which is certainly the strongest economy and more complex.

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The chinese will be a superpower, but I think it will take a while. They passed the german economy in 2007 and is the third biggest after Japan, but being no.1 I think – if i’ll throw in a number – will take a while say 30–50 years if it happens. It’s not like the US in not growing either. But who knows, I think we underestimate the chinese often. Remember that the US road from a medium strong nation to a superpower went very quickly, and we live in a new time where things happen faster and faster.

We don’t know if the EU will grow into a federation either, and every part of the world is moving towards unionizing their countries and economies. USAN, ASEAN, Persian Gulf nations and muslim nations, sub saharan nations and the AU are many steps in this direction. And you should always keep an eye on russia.

I think that sooner or later we will have a collection of super powers though. The way I see it is, that the problem with china is that it is not a democracy while growing in importance economically and politically world wide. A second cold war is not what I wish for the future.

But the whole world is growing in complexity. It is not just china.

DarkScribe's avatar

This question is outdated, China is already ahead of the US. Check how much money the US has borrowed from China – you might get a shock. When you balance the equation – China is ahead.

oratio's avatar

I think the US is good for it.

Mamradpivo's avatar

I don’t know that we are the biggest economic power in the world. We may have the highest GDP, but we won’t for long. More importantly, we hardly produce anything and we rely on foreign debt to finance our country, so we are completely dependent on other countries for energy and cash. Those countries are in turn dependent on us as a market for their products, so we are all in this together.

dannyc's avatar

Five years. Obama has now finally tweaked to the concept of peak oil, and has adjusted his policies to make an attempt to stop relying on Middle east oil. This will not be successful, China will be the economic power, U.S. will become more akin to E.U. and Canada, with its huge reserves of oil, water power and wealth will become a world power, or invaded to exploit same.

walterallenhaxton's avatar

Not much longer. We have a strong negative growth rate and regulation, taxes and other government interference in the economy will ensure our decline continues. The hyperinflation of the dollar will totally disorganize us also.

jasongabrilla's avatar

30 to 50 years could be okay.
if not, who do ya think could be?
Japan? Deutschland? China?
no.

walterallenhaxton's avatar

If the USA government prints pieces of paper fast enough it will be able to buy the world and it will be the power forever.

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