Question by : When will China overtake the USA as having the biggest economy in the world?
I’ve heard it will be in ten years time. What will it mean for us here in Australia?
I’ve heard that when a new great power comes into existence, it cares for other countries around the globe (particularly its allies) but when it starts to lose its power (like the USA is now) it stops caring, and its government becomes quite selfish regarding political issues.
Is this true? Do you think that China will be fair to those around it when it becomes the most powerful country in the world? Or do you think that we will all be communists in 30 years time?
Best answer:
Answer by Rebekah
um… hopefully never
Give your answer to this question below!
when?- that is anybodys guess.
Dont discount the US just yet, the “doctor” has not pronounced it dead yet.
I’m predicting around 2020… -Give or take a couple of Years…
Give it about fifteen years if we don’t go into a global depression.
Experts say in around 15-20 years
One can only speculate on this. It depends on how quickly China continues to rise and how well the US recovers or slides economically.
In general, it will be bad for all minor powers who clung to the US for benefit, Australia included if this happens both in terms of local political power and economically. There will be no preferred ally status here.
2017
The latest forecast I read in “Foreign Affairs” journal was not in the foreseeable future as China has a lot of structural impediments to continuing at anywhere near the current pace for long. The forecast for 2050 was: 1. USA 2. India 3. China 4. EU
According to most of the experts and more importantly Wikipedia, it’ll overpower USA around in 2030.
Just when you thought no other country’s economy could be as bad as America’s needs to take a hard look at China; they make the U.S. seem quite healthy and strong economically.
Don’t see China being Earth’s “King of the Mountain” anytime soon….much less 30 years from now.
Even the CIA fact-book does not site the United States as having the world’s biggest economy but the Eurozone as having so (the Eurozone is the collection of united countries that all share the Euro as their currency). China’s economy is roughly a third of the size of the Eurozone economy, and a slightly higher proportion of the United States economy. It is going to take a very long time especially at the present rates of growth for it gain enough impetus to overtake the United States or the Eurozone. One must consider that the vast majority of “huge” corporations active in China are not actually Chinese. Take the exploding automotive industry for example. The biggest concerns are Volkswagen / Audi (in the form of FAW), Citroen, Renault and Buick all of which are owned by European companies (except Buick of course).
The USA is NOT the biggest economy in the world, The European Community is No. 1.
Nr Place GDP ($ trillion)
1. European community ca. 16,2
2. USA ca. 14,5
3. China ca. 5,8
4. Japan ca. 5,4
They will. Very soon. In four or five years (Max.)
Compare the Chinese economy of today and 10 years ago with yours.
China’s power is that it can manufacture things at a lower price than most other countries.
To be successful at doing that, the rest of the world must allow Chinese products to be sold in their country.
In order for China to become # 1 people have to believe free trade is a good thing even if it causes their citizens to lose their jobs.
It is only a matter of time before the rest of the world bans free trade, when that happens the bottom will fall out of China’s economy.
i would assume its been in progress and has been for years, but i’l say 10-15 years for its full announcement