For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China. And it’s a lot closer than you may think.According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
- Posted: 04/25/2011
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- Category: Featured
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- Source: www.marketwatch.com
- Tags: Country: China, Global: Miscellaneous, Topic: Debt, Topic: Economics
Wall Street Journal (via Google): “Just over 100 ago, the company we know as Caterpillar began building track-type tractors at a plant on the banks of the Illinois River. From these humble origins in East Peoria—the factory had 12 employees when it started—this icon of the American Midwest has grown into one of the world’s most competitive manufacturers, recently forecasting record profits for 2011. The question is, how come its home state of Illinois has so little to show for it? Part of the answer has to do with the unvirtuous circle created when organized labor—public as well as private—forgets it has an interest in a growth-friendly environment.”
- Posted: 03/08/2011
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- Category: Miscellaneous
- Tags: Country: China, State: Illinois, Topic: Economics, Topic: Economy, Topic: Unions
CNBC: “As the U.S. Federal Reserve grappled with the aftershocks of financial crisis, the Chinese, like many others, suffered huge losses from their investments in American financial firms — from Lehman Brothers to the Primary Reserve Fund, the money market fund that broke the buck. The cables, obtained by WikiLeaks, show that escalating Chinese pressure prompted a procession of soothing visits from the U.S. Treasury Department . . . ”
- Posted: 02/21/2011
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- Category: Global: Miscellaneous
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- Source: www.cnbc.com
- Tags: Category: Global, Country: China, Global: Miscellaneous, Topic: Economics
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