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April 25th, 2011
04:40 PM ET

What does it mean that China's economy could surpass U.S.'s in 5 years?

ALT TEXT

(PHOTO CREDIT: MIKE CLARKE/AFP/GETTY IMAGES)

FROM CNN's Jack Cafferty:

The year 2016… Mark your calendars.

It's the year the International Monetary Fund projects China's economy will overtake the U.S. economy. Or as Brett Arends, a columnist for MarketWatch writes, "The moment when the 'Age of America' will end." He says if the IMF is right, whoever wins the presidency in 2012 will be the last U.S. president to preside over the world's largest economy.

Kind of sad... and kind of scary.

Other forecasters have set the date the U.S. falls to second place a decade later. The IMF projections are based on something called "purchasing power parities," what people in both countries earn and spend domestically. Either way, China will pass us by in a matter of years.

It's just another kick in the stomach to this country's already-battered economy. The job market is still beaten down, the housing market remains horrible, and the federal government still can't agree on how to rein in spending or what to do about a debt ceiling that expires in weeks. Last week, Standard & Poor's announced that it was downgrading the U.S. debt outlook from stable to negative over concerns that the White House and Congress will not be able to agree on a deficit reduction plan for 2012.

Congress is still on Spring Break - perfect.

The Obama administration downplayed the S&P announcement, saying it was political and should not be taken too seriously. They're wrong. The markets took it seriously though. The stock market suffered its biggest one day loss since the threat of a nuclear meltdown in Japan last month. And what'll you bet the White House won't have much to say about this new IMF projection either. It's called whistling past the graveyard.

Here’s my question to you: What does it mean that China's economy could surpass the U.S. economy in five years?

Interested to know which ones made it on air?

Lou:
It means they are hitting their growth stride, just as we did in the mid 1900s. Same is happening in India. We seem to think we are the only country capable of going through an industrial revolution. But most of our citizens have already benefitted from our rise out of the gutters. We shouldn't worry so much when other countries begin to do the same.

Pete in Ontario, Canada:
It's not surprising considering the Chinese are playing with an under valued currency and we continue to let them flood our countries with cheap products. Not to mention the fact that our manufacturing business has all but left North America.

Bob in Kansas City, Missouri:
It means big business and the U.S. Chamber of Commerce won. You know, those guys that advocate outsourcing every American job possible at the same time they buy off politicians too keep their mouths shut about the raw deal the rest of us get.

Greg in Arkansas:
Their economy is on a roll since China doesn't have to deal with all those pesky regulatory agencies like the: EPA, FDA, USDA, and OSHA. And with no worries about equal rights, human rights, consumer product safety or freedom of speech. They may soon have all the money in the world, but money will never buy clean air, clean water, safe food or personal dignity. I would rather live here and be cash poor, healthy, happy and free.

Jayne:
It means that we've given away the store. Our manufacturing base is now in China and we're left with jobs such as flipping burgers for minimum wage. Low wages equals low tax revenues equals America going backwards while China is barreling into the future with high speed rail and green technologies.

Ray in Georgia:
I remember the same thing when the Japanese were buying up lots of real estate a decade or so ago. Japan was going to own everything. It didn't happen as predicted. China has plenty of problems so I wouldn't throw in the towel just yet.


Filed under: China • Economy • United States
soundoff (202 Responses)
  1. Joe

    Jack,
    It means our US political representatives, corporations, and other narcissistic leaders have sold our economy all in favor of personal profit.

    We are the largest consumer society in the world; therefore, we need to stop allowing this "Free World Trade Attitude," because it is our money (purchasing Chinese products), which stimulates and maintains China's growth.
    Ironically, it is our money, which China, then loans back to us to manage our deficit.

    Joe, Binghamton, NY

    April 25, 2011 at 1:32 pm |
  2. Balboa from Huntsville, Alabama

    It means that America is not working together. It means Congress is not agreeing with each other to put the American people first. It means that they are not following what Abraham Lincoln said when he said "A house divided against itself cannot stand". I personally think that he was talking about Congress not being one.

    I read it over and fixed the mistake. Readers of the Cafferty File deserve the best statements in this world.

    April 25, 2011 at 1:35 pm |
  3. Cy Gardner

    For 30 years we have encouraged greedy financiers to dismantle successful businesses and rebuild them overseas. We told the rich they shouldn't pay taxes or obey laws that protect consumers and workers. We have allowed the rich to loot our country and reach into every home in the country and steal from the American people. Now that they've nearly finished trashing the USA and bled nearly every dime out of us they could steal and borrow, they want to invest all that money somewhere else: in China, where unions belong to the government and the per capita income is $3,000/year. Of course China is going to pass us, the rich have been deliberately destroying the American middle class so that they can re-invest in the dictators they envy. cy Arlington, VA

    April 25, 2011 at 1:40 pm |
  4. Joe R - Houston

    With an apology to sailors, what it really means is that the US government's war mongering and cradle-to-grave welfare - spend-like-drunken-sailors - programs will bankrupt itself within 5 years. And if we keep electing Republicans and Democrats, we deserve it.

    April 25, 2011 at 1:41 pm |
  5. Abram

    That means Obama has succeeded. His main objective, since taking office, has been to bring America down a few notches. He doesn't believe we are exceptional and in 5 yrs, we will not be.

    Keller, Texas

    April 25, 2011 at 1:50 pm |
  6. Ed in Harrisburg

    Jack, what this means is pure and simple...Democrats and Republicans have enacted policies contrary to the best long term interest of the American people and the American people have enabled them by spending more than they earn. There's no big mystery here. We need not fear Muslim extremism as much as we may have to fear owning our souls to the Chinese company store. It's payback time. Screw the Harvard economists, the hedgefunders, derivative investors and all the funny money people...Americans are in for some deep doo doo.

    April 25, 2011 at 2:01 pm |
  7. David Gerstenfeld

    Well Jack, it means they're doing a great job with our outsourced jobs & interest on our growing debt to them. It won't take 5 years.
    David, Las Vegas

    April 25, 2011 at 2:01 pm |
  8. Mike McMahon

    Frankly Jack, it means the Corporations have found their profits in Chinese markets with absolutely no thought of the solvency of the country that made their name and products successful. Corporations have no conscience, they are brick and mortar, its all about the bottom line. God Help Us...........

    April 25, 2011 at 2:12 pm |
  9. JENNA ROSEVILLE CA

    What does it mean that China's economy could surpass the U.S. economy in five years?

    See what happens when nations have protectionism. We should try a little of that for our future.

    Wonder why the GOP fights it tooth and nail?

    Jenna
    Roseville CA

    April 25, 2011 at 2:12 pm |
  10. Don Desaulniers (Belleville, Canada)

    The size of China's economy compared with that of America is merely a number. It does appear inevitable that China will soon be the largest economy. Their economy is expanding naturally without relying on debt.
    America's economy is sustained predominently by borrowed funny money.
    Ill-advised costly wars, atrocious overspending, uncontrolled illegal immigration, and a lobby-driven political system have combined in recent years to turn America into an ungovernable economic tragedy.
    What does it all mean? CHAOS IS COMING.

    April 25, 2011 at 2:14 pm |
  11. Angela Savage Austin Owings Mills, Maryland

    The lesson here is... United We Stand....Divided We Fall!!!! We did this to ourselves!!!! Greed Rules!

    April 25, 2011 at 2:14 pm |
  12. Richard35 Canfield, Ohio

    It means that Our Greed has lead to our Economic collapse!

    April 25, 2011 at 2:16 pm |
  13. Gary H. Boyd

    It was bound to happen Jack. China has evolved from a colonial nation to an industrial powerhouse and is doing so because of intelligent leadership and a work oriented society. It's also a numbers game. America has about 310 million people while China has over a billion. The same thing could be said about monetary policy. America has millions and owes trillions while China has billions and holds many of the notes on our trillions. Monetarily speaking, America is its own worst enemy. But, there is hope. On May 5th Joe Biden's gonna chair a congressional group to address our economic woes. I'd love to be a fly on the wall listening to that.

    Gary Boyd in Scottsdale, Arizona

    April 25, 2011 at 2:18 pm |
  14. Conor in Chicago

    It doesn't mean anything because it isn't true. It's an invalid premise. A full fourth of the worlds economy is the United States. China isn't going to surpass that with 300 Million people living like the American poor and 800 million people living like it's Medival times.

    China's days are numbered. People think China is going to be the next major power because they dont' get the news from China. It's a mess there. There is civil unrest constantly. It might take 10 years to happen instead of 5 but either way China being a unified country much less having an economy larger than the US is doubtful by 2016.

    April 25, 2011 at 2:25 pm |
  15. Jayne

    It means that we've given away the store. Our manufacturing base is now in China and we're left with jobs such as flipping burgers for minimum wage. Low wages equals low tax revenues equals America going backwards while China is barreling into the future with high speed rail and green technologies.

    April 25, 2011 at 2:26 pm |
  16. Rich McKinney, Texas

    Chinas economy is not any better then the United States economy. What China is doing is under valuating their Yuan to keep prices low so that they can steal business from other countries. Chinas economic growth is dependent on exports so keeping the local currency rate low plays a key role in boosting Chinas growth. Their unemployment rate is just as high as Americas. Buying American dollars has been paramount to the success in China but now they are worried that America may go broke and China will be left with worthless American dollars when it does. If America crumbles so does China.

    April 25, 2011 at 2:27 pm |
  17. Dennis in Florida

    The U.S. will be the chimpanzee in the room,

    not the 800 pound gorilla.

    **********************************

    April 25, 2011 at 2:31 pm |
  18. Bizz, Quarryville Pennsylvania

    China's economy passing ours in five years should not be a surprise to anyone. Ever since President Nixon first visited China and started trade talks we eventually knew that this would happen. Big business was licking its chops waiting to get cheap labor and products from China. We just help them along by leaving Wall Street police itself and putting us trillions of dollars in debt, while leaving our economy in shambles. China is not involved in three wars. They haven't invaded another country that costs over one trillion dollars that was put on a credit card. Washington is controlled by lobbyist, China has former members of Congress who become lobbyist representing them in Washington. We all know how high paid lobbyist control Washington. We're lucky it has taken this long for China's economy to surpass our economy.

    April 25, 2011 at 2:32 pm |
  19. Ralph - Corpus Christi, Texas

    It means nearly everything from Easter Baskets to appliances is Made in China. I don't think my kids have yet to see a label: Made in America.
    Ralph – Corpus Christi, Texas

    April 25, 2011 at 2:35 pm |
  20. Tina Tx

    It means that we are becoming a third world country while China will soon take our place as the world's best country. When we shipped out all good paying jobs to China what do you expect? We aked for cheap stuff and this is what we are getting.

    April 25, 2011 at 2:39 pm |
  21. Gordon NJ

    No surprise. China makes things that people around the world are willing to pay good money to buy? What do we make? Legal services, financial services, overprice medical services, and a few airplanes, but not too much else. China is bringing money into their economy. We just keep shipping our money out of the US, and stirring the rest around in the big cesspool of a pot called Wall Street.

    April 25, 2011 at 2:41 pm |
  22. Larry from Georgetown, Tx

    It means that China has all of the good jobs that we used to have in the US and that the CEO's and executives of the major corporations will live on easy street while we become a 2nd world country. It also means that we will work for them. How do the people sleep that say that outsourcing is good for our economy?

    April 25, 2011 at 2:41 pm |
  23. Carl

    Jack,

    They surpassed us long ago, who are trying to kid?

    April 25, 2011 at 2:44 pm |
  24. Tom Bulger, Canandaigua

    It means the Chinese are working hard at the jobs the Republicans exported during the Bush "administration." With tax breaks for the companies that exported them, I might add.

    What President Obama did for our auto industry he needs to do for other sectors. A serious stimulus amount such as suggested by Nobel Prize winner Paul Krugman is required to keep the economy growing.

    April 25, 2011 at 2:49 pm |
  25. CRAIG R. MCNEES

    tampa, fl the only way for the usa to keep on top is to open the immigration doors to the chinese. they will feel quite at home since almost everything here is made in china. hey, someone has to buy all that crap since americans no longer have jobs to be able to purchase anything now anyway. a population of 310 million will seem "roomy" to them too.

    April 25, 2011 at 2:50 pm |
  26. Dave, Orlando, FL

    It means that we really blew it, really, really blew it big time – huge. Our leadership has taken the greatest country in the world and turned it into a banana republic

    April 25, 2011 at 2:52 pm |
  27. Loren, Chicago

    Governmental economic policy has been a failure for the past twenty years, starting with Clinton's decisions to support Walmart's offshore sourcing through removing barriers to imports from China. While the manufacturing jobs that moved to China are looked down upon by Washington pundits, those jobs provided a good living to millions of Americans. Further, the lessening of enforcement of immigration means that jobs that might have provided a softer landing now pay less than ever. Not everyone can have a service industry job and Washington needs to wake up.

    April 25, 2011 at 2:53 pm |
  28. Jose A.

    What does it mean Jack ?

    It simply means that the american public is being hauled off like cattle to the slaughter house by those in power...... we open up our markets to the rest of the world, while China, Japan, Brazil and others work diligently tightening theirs. This nation is headed for a complete monetary collapse, and that becomes clearer with each passing day. Neither party is held accountable for anything they do, except their ability to lie better than most other politicians. We have lost the moral authority to rule ourselves, much less others – Globalization.

    April 25, 2011 at 2:56 pm |
  29. Bonnie from NJ

    It means they will have plenty of cash for us to borrow. Maybe we can send our unemployed there. Seriously, thank you very much Bush, Cheney, Rumsfeld and members of congress for bankrupting the country with your pointless, tragic personal vendettas thinly veiled as "war on terror". Honorable mention to Obama for not ending them and continuing Bush tax cuts.

    April 25, 2011 at 2:56 pm |
  30. Rick McDaniel

    It means the entire free world, has allowed China to take over its manufacturing, to the detriment of the free world.

    This was the true price paid, when Hong Kong went back to China. The flood of Chinese goods into the world markets, was almost immediate, and it has increased dramatically, each and every year, since.

    The US government allowed Corporate America to take all of their manufacturing off shore, so now, there are NO JOBS in America.

    April 25, 2011 at 3:02 pm |
  31. Bradley, Portland, OR

    It means that the corporations and the politicians they have in their pockets have succeeded in ruining our economy and destroying our manufacturing base by outsourcing and "free trade."

    April 25, 2011 at 3:02 pm |
  32. ken, atlantic city, nj

    It means the president and congress are clueless, and only care about getting elected and re-elected, They can't even balance a budget so how can they save this country from economic ruin. I don't understand why 45% of the people believe what obama is selling. Don't believe a word he says just watch what he does.

    April 25, 2011 at 3:06 pm |
  33. Michael Shea Albuquerque,NM

    Thanks to Free Trade Agreementss like GATT and WTO all of our manufacturing companies are exploiting sheap labor in Red China.

    Since President Clinton and congressional support ushered in these agreements millions of American union manufacturing jobs have gone to Red China.

    Both of our major political parties are corporate parties. It's about time we organize a LABOR-SOCIALIST PARTY that truly focuses its' agenda on the middle class , puls out of these unfair trade agreements and sets up a tarriff structure against foreign imports, especially those from Red China. As far as I'm concerned they are still the same enemy we fought in Korea and whose weapons I fought against in Viet-Nam.

    April 25, 2011 at 3:07 pm |
  34. Ray E. (Georgia)

    Well,
    I remember the same thing when the Japanese were buying up lots of Real Estate a decade or so ago. Japan was going to own everything. It didn't happen as predicted. China has plenty of problems so I wouldn't throw in the Towel just yet.

    April 25, 2011 at 3:11 pm |
  35. David Scott Doherty

    The thing that really dumbfounds me about all the junk we import from China, is how nobody ever talks about the huge carbon foot print that results from making things in China (powered by coal) then shipping it to the United States, loading all that crap on trucks so it can be dispersed around the country. Granted it is cheaper than the stuff that used to be made in the US., but if your lucky it might last half as long and then the cycle begins anew.
    David from peterborough, NH.

    April 25, 2011 at 3:12 pm |
  36. Joe CE

    It means that our stupid trade policies have helped the repressive, totaltarian Chineese government consolidate its power and thru stravation wages, subsdities, currency manipulation, and lack of worker protection, social programs, and environmental controls become the fastest growing economy. When will we ever learn?

    April 25, 2011 at 3:13 pm |
  37. Pete

    It's not surprising considering the chinese are playing with an under valued currency and we continue to let them flood our countries with cheap products. Not to mention the fact that our manufacturing business has all but left North America.

    Pete

    Ontario, Canada

    April 25, 2011 at 3:16 pm |
  38. Ken from California

    America's business gave them their economy with our manufacturing giant. Not now, "None dare call it treason", but history will show these where our traitors.

    April 25, 2011 at 3:16 pm |
  39. Terry in Hanover

    I grew up during the Cold War. While China remained largely a mystery prior to Nixon's visit, the USSR with her nuclear warheads aimed at the U.S. was the more visible threat to take over the U.S. but times have changed. The USSR dissolved while China won the war to own the U.S. without firing a single shot thanks to our feckless politicians.

    April 25, 2011 at 3:17 pm |
  40. MNResident

    It means that President Obama and the Democratic Party have accomplished one of the primary goals for this country. After running around the world apologizing for the US, our president came back and decided to take this country down a notch or two. Mission accomplished......

    April 25, 2011 at 3:18 pm |
  41. Dennis north carolina

    IT means that we buy to much products from them and not producing it at home. we are buying our selves into a depression by importing twice as much as we export.

    April 25, 2011 at 3:19 pm |
  42. Tom in Desoto, TX

    Why would this surprise anyone is a mystery. They have 4 times the amount of people we do and many do not have much. They send up stuff, after our jobs were sent to them. That's fair isn't it? Visit China, visit your old job.

    April 25, 2011 at 3:20 pm |
  43. Larry,Springfield,Ohio

    Jack,it means we are in deep doo-doo!!!!!!!!

    April 25, 2011 at 3:21 pm |
  44. Steve, Clifton, VA

    It's simple Jack....It means that the U S politicians and tax payers have to answer some seriuous questions about the future welfaure of this country. We as a country can continue to blindly and emotionally engage in extremem partian politics as the middle class continues to spiral into the abiss or we can make some hard choices to equitably share ( i.e wealthy; middle class; working poor; poor; corporate businesses large and small) the responsibility to restore financial health and wellbeing to the U S economy. it's time to put aside the "Me" attitude and replace it with the "We" attitude. it's time for "Statesmen" as opposed to partisan politicians. It's time for placing the interest of the many above the good of the few

    April 25, 2011 at 3:24 pm |
  45. Eunice

    Read Revelations or Daniel of the bible. It tells you that China will in fact plan a prominent role in the future of the world. Along with what's going on throughout the world now......

    April 25, 2011 at 3:30 pm |
  46. Bob in Kansas City

    It means big business and the US Chamber of Commerce won, you know, those guys that advocate outsourcing every American job possible at the same time they buy off politicians too keep their mouths shut about the raw deal the rest of us get.

    April 25, 2011 at 3:30 pm |
  47. Jane in CA

    It means everything is working normally. China has made a determined effort to develop new technology and educate their people for the future. They have gone from ideological pure communism to a quasi-communist/capitalist economy because it is effective at achieving their goals as a nation. America has worked very hard in the last 30 years to do just the opposite. China rises economically, America falls. At some point the lines have to cross.

    Put another way. 100K relatively poor Chinese can create more worth than 100 really rich Americans.

    April 25, 2011 at 3:31 pm |
  48. Cliff Glass - East Rockaway, NY

    The UK’s Mail published a report that an Apple iPod plant in China houses 200,000 workers, who work 15-hour days for $50 per month. Low wage countries all take their turn usurping each other for economic growth fueled by cheap labor. The US's turn was in the 19th century. However, quality and innovation is the road back to prosperity. Clean energy technology, anyone ?

    April 25, 2011 at 3:33 pm |
  49. JoyceG

    Means we have a stupid President and underlings who know NOT what they do.
    Joyce
    Wi

    April 25, 2011 at 3:34 pm |
  50. Patrick in Mi.

    It means our own government sold us out .

    April 25, 2011 at 3:36 pm |
  51. Mike S., Dayton Ohio

    It means our landlord has more money than us. The Bush administration borrowed and hocked our future to China. The damage has been done, and once again the Democrats get to clean up the mess.

    April 25, 2011 at 3:41 pm |
  52. Thom Richer

    They're smarter, support their country before others and we screwed up. We have allowed a handful of so called, "leaders" and "experts," to dictate to millions of us Americans, rather than us taking control of our government and making them carry out our demands for governing. It is wrong and ridiculous for a few to control the many. A government, democratic or others, which does not adhere to or listen to its people, is no better than a dictatorship. It takes more thanproclaiming yourself a Democracy to be a Democracy.

    Thom Richer
    Negaunee, MI

    April 25, 2011 at 3:43 pm |
  53. BRETT MULLINS

    china is smart.the dont outsource they jobs.they dont pay 1 trillion a year being the cops of the planet.the dont spend billions on prisoners in jail.the dont bail out banks.i can go on and on.
    BRETT MULLINS
    PHOENIX,AZ

    April 25, 2011 at 3:47 pm |
  54. Greg in Arkansas

    Their economy is on a roll since China doesn't have to deal with all those pesky regulatory agencies like the: EPA, FDA, UDSA, OSHA, FSIS and with no worries about equal rights, human rights, consumer product safety or freedom of speech, they may soon have all the money in the world.....but.....money will never buy clean air, clean water, safe food or personal dignity.......I would rather live here and be cash poor, healthy, happy and free.

    April 25, 2011 at 3:47 pm |
  55. marcia in wv

    It means china is getting wealthy on the crap we buy from them instead of demanding that big business use American workers to make the stuff here. Also a tariff on anything coming into this country would help too.
    Remember when a VW was a" foreign car" and it cost more to get it here than to make it? Big business is to blame! And the goof-balls we elect!

    April 25, 2011 at 3:53 pm |
  56. Richard A. Mathews

    Jack – Didn not these same Expert proclaim Japan would surpass the U.S. a generation ago?" Did not the same Experts forget then as they are now that China has extremely limited resources and will in less than 20 years be home to 1 of every 3 if not 2.5 human being older than 65 on the face of the Earth? Then again, have not the same Experts been trying to justify Keynsian deficit spending since the 60's? The same Experts been trying to justify Free Trade since the Nixon Administration as the answer to this nation's economic trade problems? The same Expets first proclaiming an Ice age coming from pollution during the Carter Administration to now Global warming from the same pollution today? Maybe someday America will again look into the mirror and recognize only we can address the problems we have created ignoring the "Fairy Tales whose who live far, far away in their Ivory Castles continue to create. America's potential for greatness among all nation's remains unsurpassed. Our natural resources are unmatched in the civilzied world. Our university's and research centers second to none. Our people's innovation the envy of the globe. Raise your Voice to insure our children's future will exceed America's fabled past. Ask what you can do for our country?

    April 25, 2011 at 4:00 pm |
  57. Paul P.

    It means China has a much larger population, and that once they decided to open up their economy this was bound to happen at some point. It's not anything to panic about, but by allowing the Chinese to take the lions share of manufacturing jobs, the US has committed itself to innovation and technology as its future. Do we have the educated population to support that? I'm not sure.

    April 25, 2011 at 4:04 pm |
  58. david -seattle,wa

    it proves the 2 party monopoly , that sold out the moral continental, will still get paid , while we suffer the demise of 3r d world influence on our local economy..In other words, we have to shut down our libraries and schools early or completely, becuz the property tax gets raided to cover the bond payments for the subsidized infrastructure (i.e. ports),. All while the governors brag about making everyone suffer in state, as the bond payment to the bank to cover the port costs, gets paid to gurantee the credit rating. ONly ones who dont pay proper is the industrial shipping companies.. at present, they ( I.,M.O.members) still owe for the "oil spill equipment", needed for the b.p. spill and numerous others.. but, our senators wont enforce our laws...

    April 25, 2011 at 4:09 pm |
  59. Shirley, Parry Sound, Ontario

    It will mean lots of jobs for teachers of Chinese as a second language.

    April 25, 2011 at 4:10 pm |
  60. Tony from Southport

    It means the Democrats have been in control for way, way, way, way too long!

    April 25, 2011 at 4:11 pm |
  61. Michael in Albuquerque, NM

    It means that China has a billion more people than America, and that they are finally getting their citizens into the economy.

    April 25, 2011 at 4:12 pm |
  62. Mary Steele Yorktown VA

    It means that we are idiots to let China or any other country get away with undervaluing their money and other ways to undercut our products' prices. We are also stupid to let 8 million illegal workers keep their jobs while 22 million unemployed legal immigrants and citizens can't find one!! That hits our economy twice-less revenue and states paying to support them!

    We also need to get our tax rate down to a competitive level so companies can grow and compete on the global market and increase taxes on imports from countries with unfair advantages!

    Yorktown VA

    April 25, 2011 at 4:12 pm |
  63. Alex in Bremerton, WA

    So much for American exceptionalism! The twentieth century was America's century and now the time has come to pass the torch to the next economic superpower. Actually, it is more likely due to the laws of large numbers. If Chinese workers were even half as productive as American workers this should have happened long ago since they have three times the population we do.

    April 25, 2011 at 4:19 pm |
  64. DON IN WESTPORT, MASS.

    It means our fearless leaders, in their infinite wisdom let it happen, and soon the "world" will be made in China because of it.
    The Arab countries control the life blood of our country and can change the price at the pump at any time so lets just add China to the mix and they can take control of our stock market.
    It won't be long now, we will be riding bicycles to work for lack of oil and eating with chopsticks, all while we get over run by illegal immigrants from the Mexican border.

    April 25, 2011 at 4:24 pm |
  65. john /nebraska

    it means the unions in this country have priced their way out of a job.

    April 25, 2011 at 4:31 pm |
  66. lou

    It means they are hitting their growth stride, just as we did in the mid 1900's. Same is happening in India. We seem to think we are the only country capable of going through an industrial revolution. But most of our citizens have already benefitted from our rise out of the gutters. We shouldn't worry so much when other countries begin to do the same.

    April 25, 2011 at 4:32 pm |
  67. Nurse Lisa in Shelton CT

    (a) That America has to think long and hard about our trade deficit with any nation, outstanding loans that devalue the dollar, and insane corporate tax breaks for offshoring formerly American jobs; etc; and (b) that it would probably be wise to bet on China to succeed.

    April 25, 2011 at 4:34 pm |
  68. Rick, Medina, OH

    Jack,

    It means a lot of things, but primarily, the Chinese are making better investments than we. They invest heavily in education and technologies that enable them to exploit their competitive advantages. They partner with foreign investors to not only manufacturer goods, but also to obtain their 'know-how.'

    They spend heavily on their military as do we, but while the U. S. spends more than most of the developed world combined, (primarily on things,) the Chinese primarily invest in people.

    Finally, it is an inevitable that a 'developed' China with 1 billion more people, would eventually take over the top spot.

    Rick,
    Medina, OH

    April 25, 2011 at 4:37 pm |
  69. Cy Gardner

    Republicans and their greedy corporate overlords have been trying to destroy our economy for idealogical reasons for years. If they can reduce our economy to rubble they feel confident they can buy enough negative ads to rule the ruins and impose their perfect ideology. The people in power in China are trying to build a nation. The Koch brothers and their ilk want to destroy a way of life. We should sieze 80% of the assets of the richest 5% and then deport them. We will be better off without them. cy Arlington, VA

    April 25, 2011 at 4:42 pm |
  70. Marilyn, Powell OH

    It means the greed of big corporations and their highly overpaid executives has finally caught up with Americans. We wanted cheap goods and didn't keep our own labor force working. You reap what you sow.

    April 25, 2011 at 4:44 pm |
  71. Karl in Flint

    It means China didn’t have eight years of George Bush telling his wealthy supporters they don’t have to pay taxes anymore and they can ship all American jobs overseas so all we can buy here is junk from China with what money we have left. Then Wall Street had to be bailed out at the last minute of his reign, at the expanse of the rest of us who are paying taxes and now we are looking to the thieves to save the economy, talk about sad. Add to that the fact we keep reelecting the same representatives over and over but expect them to change and do things differently and fix what’s wrong, but they never do. Insanity is doing the same thing over and over and expecting a different result. Unless we regain our sanity next year and elect representatives that are willing to represent us and not big money, we better learn to eat with chop sticks. That’s what it means, Jack.

    April 25, 2011 at 4:47 pm |
  72. Bob Kobs

    It means that the idiots in the GOP need to wake up and get on board with the President's agenda, or they will pull this country to the gutters where the Tbaggers and the bigots live.

    Get on with America's business, heed the President.

    April 25, 2011 at 4:50 pm |
  73. Anthony J. Frascino from Swedesboro, NJ

    It means the American public is being shaken by the twenty four hour message of the media using paranoia and hyperbole. China will never surpass us because their population is homogeneous and think like one entity. We will remain supreme because the secret of our success is the melting pot. Every nationality in the world exist here and gives us the unique perspective and talents of the world.
    China also curtails its population's creativity through authoritarianism and fear. We should only fear them when democracy arrives and that's not happening soon. As of now, China is nothing without us.

    April 25, 2011 at 4:59 pm |
  74. Claudia, Houston, Tx

    China's economy may surpass the U.S. economy but the U.S. still remains the number one country to live.

    April 25, 2011 at 5:01 pm |
  75. Tom Mytoocents Fort Lauderdale, Florida

    Jack
    We've been on the wrong path for forty years. At the top of the list we fed our dependancy on foriegn oil instead of focus on energy independance through either conservation or renewable energy.
    As our dependancy increased on oil we sacrificed our middle class to pay for our oil addiction. We then mortgaged a future on a deregulated Titans of Wall Street who robbed the US Treasury in Silverado, Enron, World Com, Tyco and the 2008 Financial Halocaust that will bring us all down. We are all responsible. We failed our ancestors, our childern and our Democracy..............

    April 25, 2011 at 5:07 pm |
  76. Mr. D

    Maybe we are all tired of being "no.1." Let China pick up the ball and run with it for a while. Let's see how much yardage they can make keeping the world glued together. With power comes responsibilty.

    April 25, 2011 at 5:08 pm |
  77. Rich McKinney, Texas

    Jack what China is doing is capitalizing on what America failed to do. America ran business out of the country into the open and waiting arms of China who welcomed the jobs, prosperity and the money. While America now flounders China thrives. China is buying American dollars at breaking speed in an attempt to cash in on the great American dream. Meanwhile America is nearing bankruptcy and when America falls so shall China.

    April 25, 2011 at 5:09 pm |
  78. calaurore9

    It means China has a dynastic long term perspective not an election cycle mentality. Instead of being on vacation, they're hosting and manipulating Congressional visitors from the U.S. as we speak.

    Carol in Northampton Ma

    April 25, 2011 at 5:10 pm |
  79. Ralph Spyer

    When Wal Mart is the largest employer in America ,next to the federal government.When half the products in a store and made in China. When Large American companys are no longer American but have a P.O.Box number in Switzerland,When 10 million people just move in. I don"t live in America any more but this is not the country I went to Vietnam For.

    April 25, 2011 at 5:13 pm |
  80. Gigi Oregon

    It shows that other world powers may have been right. America's boast of capitalism has destroyed America. A list of ten of the happiest countries showed us, countries with national/socialism health insurance, other benefits etc. are happier. And on the bottom was the USA. And now Jack tells us we are about to loose being #1 in power. And we will surely fall to third world poverty in 2016. I don't know who you are going to blame but I have a long list of contributors. Starting with corporate America, lobyist and congress who had the brilliant idea that they should cut taxes for the rich and go to war with out a budget. Then to cap it off blame the mess on Pres. Obama. When "we the people" wanted national health care, our men/women brought home and jobs. But corporate America wants to keep "we the people" lean and hungry and we don't have the money to line Congresses pockets for a better America.

    The reason China will surpass us is because ....remember that money Congress borrowed to go to war...Congress borrowed it from China and in 2016 they will own us. Its called capitalism, it's where the weak and stupid are ate up by capitalist. We the people have no way of winning... Gee, I wonder what Jesus would do to cut that budget. "In God we Trust" I can hear China laughing all the way to the bank...

    April 25, 2011 at 5:15 pm |
  81. Ray in Knoxville

    Jack, it means the "trickle down economics" of the past 30 years have worked, except the benefits of letting the rich in America have their way have trickled down to China, not to the American middle and working classes.

    April 25, 2011 at 5:17 pm |
  82. Aristocles

    It means someone is screwing up the statistics. They said this about Japan before, and they were wrong. Same thing with China.

    April 25, 2011 at 5:17 pm |
  83. Johnny C (from Los Angeles)

    Hi Jack –

    The important word you used is "could" ... it hasn't happened yet.

    It also means that if our government stops sleaping with the lobbyists and begins removing obstacles for our businesses to bring back work to the United States that we can still remain number one. They have left because we are "oppressive" to business ... after all, someone has to keep government running and all of these extra fees usually go to some form of government (local, state, federal). Changing the obstacles and cutting the size of government is our answer.

    I'm hoping that your question slaps Congress in the face so that they remember that priority number one is "Jobs, jobs, jobs"!

    April 25, 2011 at 5:18 pm |
  84. Steve

    It means that the empire of America is on it's way down while a new one rises; it's only natural. It happened to the Romans.

    April 25, 2011 at 5:19 pm |
  85. Steven Durski

    It means we're going to have to move to China if we ever want a job.

    April 25, 2011 at 5:19 pm |
  86. Jim

    It just means that the largest US businesses have succeeded in moving their enterprises out of the US, have found a way to pay no taxes and to get employees who work for pennies.

    April 25, 2011 at 5:20 pm |
  87. Rick in California

    Means they are cutting their own throats in China. their own greed for technology is going to be the death of China. Air pollution and overpopulation will be enough to cull the crop as it were. Until we get rid of the thieves in congress and do away with the 2 party system in this country we will never recover. It's that simple.

    April 25, 2011 at 5:20 pm |
  88. Roanna Martin

    Fingers crossed, we will be able to sell China some cheap, plastic crap for pennies. Maybe then Americans will appreciate that three dollar a day job the Republicans are going to create for us. I think it is safe to say the both parties have been bought and paid for. I think we all now know who paid them.

    April 25, 2011 at 5:20 pm |
  89. Kevin - Veteran in Illinois

    There are far more people living in poverty in China than in the United States and that will be true in 2016. China has a dirty economy and they're are more have-nots than haves. China's numbers, as with their money, are skewed towards their perceived favor.

    April 25, 2011 at 5:20 pm |
  90. frank dileo

    what im afraid that means is that there will be a new superpower to deal with militarily and a possible end to the dollar as a world reserve currency which will turn us into greece economically.

    April 25, 2011 at 5:20 pm |
  91. Robert Butler

    It means that China really decides what our "debt ceiling" will be. The Chair of the Chinese Central Bank announced they need to cut their dollar reserves by two-thirds.

    April 25, 2011 at 5:20 pm |
  92. Eric

    It means that the tax break for the rich is working: the money is being reinvested – in China.

    April 25, 2011 at 5:21 pm |
  93. karin los angeles

    Anyone could see this coming. as soon as corporations and all their tax breaks got the chance they outsourced american jobs, the ones that will never come back. i loved buing things that were made in america. i go shopping now and cannot find anything made in america. i am 63, and it is so sad. Unless we put surcharges on China exports, and take away tax breaks for corporations who have taken jobs there, we are doomed. period.

    April 25, 2011 at 5:21 pm |
  94. Timmy, Richmond VA

    It means that the people here in America can't get a grip. Honestly if people realized WHAT they are buying isn't helping the economy, then the economy will never heal. If the big companies continue to stay greedy, they will eventually fall because of the way things are going. It isn't that hard to figure out. Honestly, it just seems like common sense but no one gets it.

    April 25, 2011 at 5:21 pm |
  95. bald

    It means Obama had rather get reelected than take care of the economy. He cares more about the position than the country

    April 25, 2011 at 5:21 pm |
  96. marc keir

    china's population is almost four time's the population of the united states.it was just a matter of time before this happened.marc poughkeepsie ny

    April 25, 2011 at 5:21 pm |
  97. Bill

    It means that Congress as well as our business leaders need to get their acts together. And fast.

    April 25, 2011 at 5:22 pm |
  98. Dan Leahy

    It means that thirty years of Reaganomics has taken it's toll.
    Dan Leahy
    Santa Barbara

    April 25, 2011 at 5:22 pm |
  99. Bob Wheeler

    Lots of cheap labor, no safety regulations to worry about, no collective bargaining.....if China passes us up, they need to watch their back, the flat world world will hasten the demise of their situation as well.

    April 25, 2011 at 5:22 pm |
  100. Laureen

    It doesn't mean anything. There was once a time Great Britain was number one. Now they aren't and I don't hear anyone panicking across the pond. If Americans take it seriously, the markets will panic. Which means what to the average middle-class American? Nothing. They aren't a part of the market or have a share in it. If you want to stay number one, stop panicking and be part of the solution.

    April 25, 2011 at 5:22 pm |
  101. Vivian Rhodes

    The bible states every 2000 years a great neation will fall to a smaller nation. But I am praying that this is not the case for the U.S.

    April 25, 2011 at 5:22 pm |
  102. Roanna Martin Peoria, AZ

    I fear it means that we have finally found a politcal system that beats all others: Communism propped up by Capitalists elected in a Democracy by gullible fools.

    April 25, 2011 at 5:22 pm |
  103. Dylan Raines from Seattle

    This is one more sign that our empire is fading and we need to wake up and realize we're going to have to stop policing the world, printing fraudulent money, and maybe actually focus on a decent public education system for out entire citizenship.

    Either this is what is happening. If we make the choice to change now we can become the world's leader for ideas, innovation, and providing peace and prosperity to our people.

    April 25, 2011 at 5:23 pm |
  104. Katie V/M

    Jack: As long as we give American companies tax advantages to take our jobs overseas, we are toast! The problem, in my opinion, is that our country is not run by Congress but by such things as Wall Street, the financial industry, etc. Our elected officials are much more worried about getting re-elected than they are about crafting the best policy for our country. It is pathetic.

    Citizens United put some pretty big nails in the coffin. I don't know how we get our government back with the Supreme Court aiding and abetting in giving it to big business and the wealthy. The middle class is screwed=America is in a mess.

    April 25, 2011 at 5:23 pm |
  105. Jerry Jacksonville, Fl.

    What it means is that as long as the good old Republican businessmen keep sending our jobs to China then it may not take that long. A country is made with a manufacturing background and we are damn determined to do away with ours and in ten years we'll have the third or fourth highest economy in the world. I feel sorry for my children and grandchildren because they're the ones that will suffer.

    April 25, 2011 at 5:23 pm |
  106. DIon

    I already knew the Chinese economy was going to beat ours in a couple of years, because the U.S. Government was already in debt and we are just printing money dollar bills. Our currency is the reserve of the world and when our dollar fails that's where china will come in. This administration has some horrible people like Tim Geithner who deny the fact that the American dollar will fail, they know, but wont tell the American people. American people wake up...

    April 25, 2011 at 5:23 pm |
  107. Rick Davis

    Why the big noise about this? Is there some measurable impact on the people of the United States by China's economy surpassing ours? So what? Are we as a nation so mired in the concept of being the biggest, the best, the richest that we have to have a national pity party because the largest nation on earth will soon have the largest economy?

    Our values have not changed. Our capabilities have not changed. Those things that make me proud to be an American will not change one whit if our economy is number two or number twenty. Let's get serious about important issues and stop trying to convince ourselves we matter because ours is the biggest. Is this a high school locker room?

    April 25, 2011 at 5:23 pm |
  108. Flyingwolf, Manchester NH

    What should it mean if China's economy surpasses ours? It means this country has been bought out be corporations (and their bought out politicians) who do not think of themselves as American and don't care what happens to the rest of us.

    April 25, 2011 at 5:24 pm |
  109. Robert

    Jack, it means this...China is attempting the impossible. They are trying to maintain an autocratic dictatorship and a limited free-market economy for over a billion and a half people. History is not on their side. Someday soon, maybe not today, or tomorrow or maybe not even 2016 those people will do what people inevitably do in the face of tyranny. They will rise, and China's government, like the USSR and other dictatorships before them, will fall. The Chinese are trying to run an economy sitting on a ticking time bomb. Neither history nor time are on their side.

    April 25, 2011 at 5:24 pm |
  110. Jeremy D

    It means we should quit borrowing money from them. I want to know how we got into debt with China of all countries? To write frankly, they are not our ally's. We even fought against each other in Korea! Now somewhere along the line, some politicians made it okay for us to be in their debt! Communism is fine for Chinese, but I like Democracy Jack. Let's hope that doesn't change.

    April 25, 2011 at 5:24 pm |
  111. Don

    Jack what this means is the difference between a central government making decisions and a government made up of competing parties or factions, as the case maybe.
    When the Chinese want something done – the central committee says – Gitter done. In this country several committees have to be formed and the meetings scheduled to decided if a decision needs to be made.
    Might I note that several men wiser than me have observed that the natural progression of Democracy is toward Despotism. Now there's a thought – let one guy or gal have the say – then things would get done.

    April 25, 2011 at 5:24 pm |
  112. Chris Collins

    Well that's capitolism at it's best I guess! You get fat and lazy and look what happens.

    April 25, 2011 at 5:24 pm |
  113. Sally in Texas

    It doesn't mean much at all. China has over four times as many people as we do. By catching up to us, it means that they will have a per capita income of one fourth of what we do. As they grow, they will buy more of our products, they will do better and so will we. And as their population become better educated and has a little taste of upward mobility, the people will want more freedom. Why must we always think that others doing well is bad for us? This doesn't mean we're doing worse, it means they're doing better. Good. I'm happy for them.

    April 25, 2011 at 5:24 pm |
  114. Ray Hoffer

    It means that China isn't spending $2 billion dollars a day in Afghanastan. It means that China's people are employed. It means that China's government has the ability to make tough decisions. It means that China's businesses aren't rushing to employ US citizens. It means that China's citizens have confidence in their country's future. It means that China doesn't have to concern itself with an out-of-control healh care system. And on and on and on...

    April 25, 2011 at 5:24 pm |
  115. cathy

    So, Germany isn't number one and they have a wonderful infrastructure in their country, higher wages than both the U.S. and China and healthcare. They have a wonderful safety net for their people and they don't begrudge paying for it or shame their citizens for having a safety net. Why can't we be more like Germany? Let's start with mass transit, trains.

    April 25, 2011 at 5:24 pm |
  116. john korth

    Great New's
    Maybe our jerko politicians will wake up and do something for our country.

    April 25, 2011 at 5:24 pm |
  117. Roger in Miami

    China is a fascist state run by thugs. All tyranny falls under it own weight. China is one good blogger away from going the way of Egypt. It will be destroyed from within by it's own huddled masses yearning to be free.

    April 25, 2011 at 5:24 pm |
  118. steve calo

    so who really cares? the russians beat us in space and we surived, when are we going to learn life is not a contest, and we don't have to be 1st at everything. The only thing about it that really scares me is that we have westernized them to to point that when every Chinese man women and child lives like Americans, CONSUMING, CONSUMING , CONSUMING.... the world can't support our lifestyle!!

    April 25, 2011 at 5:24 pm |
  119. Darlene Eliason

    Capitolism finally DEVOURED ITSELF!! Of course it had help from George Bush and Republicans and Osama Binladden. They hurried it along.

    April 25, 2011 at 5:24 pm |
  120. Daniel W Sargent

    If you are a politician, the meaning depends on if your party is in power or not. To an economist, it means that size does matter since China has about 5 times as many people. To an historian, it means that what goes around comes around (China and India spent thousands of years as top dog economies). If you are an average citizen, it means nothing since our per capita GDP is still around 4 times larger. We will go on living as we have been, paying little heed to the economic consequences of our choices.

    April 25, 2011 at 5:24 pm |
  121. Maverick

    Jack, it mean US is going DOOM!

    So what's new Jack?

    April 25, 2011 at 5:24 pm |
  122. Stephen Charchuk

    Maybe if the USA were more socialistic, like the rest of us, it wouldn't be in the mess it is now and wouldn't have to worry about China. After all, greed is a deadly sin. It also seems that the Communists are, ironically enough, better at capitalism as well.

    April 25, 2011 at 5:24 pm |
  123. Carlos (Oklahoma City)

    What it means Jack is China has elected to beat us at our own game. They have embraced the free market system, they are creating jobs at a tremendous rate. They also have 4 times the population to both provide goods for, and to produce goods for the rest of the world. The Chineese will probably in future years actually adopt a democratic state and end up showing us how it is done. Everything America stands for in principle, the Chineese will do better. They will beat us at our own game time and time again, our nation is losing its standing in the world, because we are not focused on the important things in life.

    April 25, 2011 at 5:24 pm |
  124. robert weimer

    Donald Trump has answers for this problem, but everyone wants to laugh and not take him serious! We will laugh now but will cry later! But you wont show this comment!

    April 25, 2011 at 5:25 pm |
  125. Robert Doman

    It means that it's time to roll up our collective shirt sleeves and get North America working again. Let's see some real leadership from our federal governments. The posts here from your other viewers give me much hope. With these people on our side, how can we possibly lose ?

    April 25, 2011 at 5:25 pm |
  126. Tammy

    It means they have more people. Unless every woman in the USA has three sets of octuplets, it is inevitable.

    April 25, 2011 at 5:25 pm |
  127. diridi

    these politicians are grazing grass, they know wars will boom economy...well, wars collapsed, it is education, energy independence, etc, not wars....not trickle down economy....well, they worked they deserved, do you want America to go to war with china????US needs to root out its corruption, and lobby...that's it...focus on education, energy, and strict immigration, nab banks that cheat, look some of the visa and master card companies are charging 30 percent interest rate, it is robbing...greed, greed, and greed, it is destroying America....not china...

    April 25, 2011 at 5:25 pm |
  128. Steve from Los Angeles

    We've all survived through numerous stock market bubble bursts and real estate bubble bursts. I'm not sure how we're going to get through our first and perhaps only US bubble burst.

    April 25, 2011 at 5:25 pm |
  129. Carl

    Come on Jack, if and when China becomes the world's largest economy the quality of life and the per capita income (salaries) in the US will be more than China's.

    I expect China and India's economies to surpass the US. Both countries have larger populations, a rising middle class and an increase in literacy rates.

    I think America will remain the envy of the world but I do expect other countries will also advance in the decades to come

    April 25, 2011 at 5:25 pm |
  130. Ross

    How about a quick reality check Jack. The population of China is 1.3 billion compared to 311 million for the United States (over 4 times larger). To think that the US economy would remain number 1 and China would remain in the Dark Ages is ludicrous.

    April 25, 2011 at 5:26 pm |
  131. Matt

    It means that the past 30 or so years that we've spent electing people who had no business being in office ( on both sides, and in the House, Senate, and Executive Office ) because we "liked" them, combined with our ignorance of our own political culture and that of the rest of the world, has finally caught up with us. We've damaged ourselves beyond repair. The only question remains, do we accept our decline, like the British, or do we go kicking and screaming? My guess is the latter.

    Matt
    Saint Augustine, Fl.

    April 25, 2011 at 5:26 pm |
  132. David mackay Ballard

    Is this really any surprise? Our wonderful corporate leaders have been fattening their wallets for years while they lay off our workers and outsource our manufacturing to China, Mexico, India, &c.

    Insatiable corporate greed has led directly to the financial downfall of our country – it is tragic and unconscionable, but anyone who hasn't seen this coming has truly had their head buried in the sand.

    April 25, 2011 at 5:26 pm |
  133. James in Texas

    Shock and surpise that China's economy will surpass ours. How silly.
    Think about it, every manufacturer in America years ago saw the
    opporturnity to make money by getting their goods made for less
    in some third-world country. Well, it worked, for a while. Now they
    have the knowhow and don't need us to show them how anymore.
    What a shock. Silly us, guess we thought they would be content
    to continue to work in those ole American owned factories. Duh.

    April 25, 2011 at 5:26 pm |
  134. Wayne - Orlando

    It means China is "United" while America is divided. As long as the US has a system where politics trumps the best solutions to our critical problems, you can expect our status to continue to slide. Sometimes I think this is a dysfunctional country.

    April 25, 2011 at 5:26 pm |
  135. Chris in WI

    This means we have officially waited too long.

    You are correct, it's really sad to hear that. Even worse; it's not a surprise. I'm reminded of the scene in Austin Powers with the guard and the steam roller.

    We can only fix this with Billions more in education and a time machine to spend those dollars over the last 20 years. It's too late.

    April 25, 2011 at 5:26 pm |
  136. Scott Stodden

    I Think It Means Alot And Its Scary To Think That Any Other Country Could Surpass The U.S. We Are Supposed To Be The Strongest Nation In The World, The Ones Who Are One Top Of Everything And Everyone Looks Up To Us Those Days Im Afraid To Say Are Nothing But Mere Memories, Gone Forever And We'll Never See Those Days Again, Washington You Should Be Ashamed Of Yourselves!

    Scott Stodden (Freeport,Illinois)

    April 25, 2011 at 5:26 pm |
  137. tom

    It means we have been sold out by multinational corporations. They're the ones who are building China's economy by moving North American jobs to China in order to extract incredible profits by paying minimal wages. And then having moved all the jobs overseas, they're not going to repatriate their incredible profits until they receive massive tax breaks. But it's okay, we are receiving an abundance of unsafe products, prone to failure and loaded with poisons such as arsenic.

    April 25, 2011 at 5:26 pm |
  138. Apparao

    Jack do you realize there's 1.3B people in China? And that America only has 300M people? Do you understand how oppresive life has to be to keep 1.3B people from outproducing 300M people? All this means is that we have over a Billion people who's lives are finally imroving, and gaining a better quality of life. It really has nothing to do with America. The fact that we have 2.5B in China and India that can't surpass the American economy should a point of depression, not a point of American celebration. "American Exceptionalism" shouldn't mean celebrating other nations having poor qualty of lives. We should be proud that we're bringing other parts of the world to our own standards, and welcome these new people into a global market place. Ultimately, this will make everyone's lives better.

    April 25, 2011 at 5:26 pm |
  139. Bryan (New York)

    The United States is not growing as fast as China for many reasons. Most of our spending is on redistribution and war, not infrastructure or investment. We don't allow as many immigrants into this country as we should. China has over one billion people while we have 330 million. More people means more production. Regulation strangles business and instead of allowing those who are productive to grow, we are making the least productive dependent on future government payments. Business grows economies, not government interference or government limitations on business.

    April 25, 2011 at 5:26 pm |
  140. Susan from Idaho

    Jack let's not play the what if game. Dealing with reality should be our focus. Nothing can change the harm that has been done to the U.S. We just need to pull together for and not cry wolf. Two months ago if someone would have said Japan will be in total disarray soon would we not have scoffed?

    April 25, 2011 at 5:26 pm |
  141. Kevin

    It means that the United States will have to realize that it is no longer the most powerful nation in the world. The US will have to realize that not only can it not afford to pursue its imperialist ambitions, but the rest of the world may not even take this country seriously anymore. With the national debt rising and the politicians in Washington doing what they do best, which is nothing, we can count on the US to take a more relaxed role on the world stage in the years to come, much like Britain was forced to do after World War Two. Most of all, Americans must stop boasting that they are the best, richest, most powerful nation in the world – because it simply is not true anymore, and doing so will not do anything to fix the horrible state the economy is in. The question is not if the all mighty America we know will be forced to take a relaxed position on the world stage economically and militarily – the question is when, and how it will react to preserve itself and provide for the well being of its citizens.

    April 25, 2011 at 5:27 pm |
  142. Weldon from Newmarket ON Canada

    I don't believe that the USA really cares if China's economy surpasses that of the USA. If they had any concerns at all, they would tax hell out of every product that is sold by US companies that are produced in China.

    The same goes for Canada. Those products that are produced in China and sold by US/Canada should be taxed to the value of the product as if it were produced here in North America. Open your eyes world, between paralizing the economy with foreign gas and foreign labor, North America will be taken over without a shot fired.

    'Nuff said!!

    April 25, 2011 at 5:27 pm |
  143. Christine

    Ni hao Jack! It means that Joss Whedon's vision in Firefly of what our society would be like in the future isn't that far off. Soon, we will not only offer the standard foreign language classes in our schools, but more than likely will also be offering Mandarin or Cantonese classes for our students. Christianity will be surpassed by Buddhism and we will all have to learn how to make fresh Bao. It means that life as we know it is constantly changing and that we must adapt or fall by the wayside. We've done this to ourselves and our elected officials have been idiots to think they could run us so deeply into debt, ship our jobs overseas and still have our country remain number one economically. They've done a sloppy job of it all and we shall reap the rewards of their incompetence.

    April 25, 2011 at 5:27 pm |
  144. Jon Gabrielsen

    Everythng I've read and all the analysis I've done concurrs with that projection. But China has roughly 4 times the population to split that pie with so as individuals we will still have 4 times the income per person than them. I'll take our end of that deal anyday.

    J.T.

    Smyrna, GA

    April 25, 2011 at 5:27 pm |
  145. honest John in Vermont

    What do we expect after 30 years of lobbyists, military industrial complex, special interests, corrupt politicians, stupid policies, failed war efforts, greedy banks Wall Street and corporations?

    On the positive side maybe when they hit # 1 China will forgive our debt to them?

    April 25, 2011 at 5:27 pm |
  146. Ralph Nelson

    It means that Republican economic theory has been successful. You give tax cuts to the rich and big business. Tax breaks and write offs using middle class tax payer money to business to dismantle their plants and move them to China. Weaken labor unions such as is taking place in Wisconsin, Ohio, and a goal of the GOP. China has no labor unions so cheap labor is assured, with Chinese government subsidies to locate and build your plant. Since China is where the action is American business and investors (using their massive income tax cuts) invest in China, not the US. Who was it that said Capitalism well give Communism the tools to destroy us? All you need is the GOP. Reagonomics has been successful! Goodbye America.

    April 25, 2011 at 5:27 pm |
  147. clinton

    It means that now that the U.S. economy is coming up to speed with where the world is economy is today. The facts are becoming increasingly apparent that we are not worthy of what we have billed ourselves to be for years. "The largest, richest, and greatest workforce in the world." I mention this in the same paragraph as I would like to note other economic events of late. The ongoing union protests in Wisconsin, and our high paid air traffic controllers falling asleep at the wheel.

    April 25, 2011 at 5:28 pm |
  148. David Chapman

    Why should any of us be surprised by this "sudden" revelation? This outcome was cast decades ago with the decision to permit & support the growth of China and other Asian countries via exporting (outsourcing) our domestic steel and textile industries. I love my country, but that does not mean I have to love capitalism unfettered. It seems today the love of money & power is more important than love of country. What happened to patriotism?

    April 25, 2011 at 5:28 pm |
  149. karin los angeles

    Remember Ross Perot and the great sucking sounds of jobs going overseas? He was right. And along with it we gave corporations tax breaks for going and gave them tax breaks for staying overseas. Now the Repubs are trying to break the Unions. Nothing is Made in America which btw used to be Walmarts slogan. remember look for the union label song? At least no one can blame this on obama for a change.

    April 25, 2011 at 5:28 pm |
  150. David Soares

    Every action has an opposite and equal reaction. China is increasing energy use at the expense of their environment, to grow their economy,Their quality of life will end up in the dumps. Japan learned this the hard way.

    April 25, 2011 at 5:28 pm |
  151. Ken

    It means that China is starting to unleash the power of its 1.3 Billion people and bringing them out of poverty and into a new middle class. People think it is a bad thing for China to surpass the United States in GDP and wealth when it is inevitable for it to happen. They do have 1.3 Billion people after all, nearly 4 times our population. If anything this helps America, we will be able to sell goods to their middle class which means jobs and money coming into the U.S. Sadly we will loose our bragging rights of being the richest country on the planet but China still has a long way to go in GDP per person. If we get our political, social and economic act together and put pressure on China to reform their currency then both countries win in the global economy.

    Richmond, VA

    April 25, 2011 at 5:28 pm |
  152. Magnum Serpentine

    What does it mean when a paper economy is about to overtake an enslaved economy?

    Nothing at all.

    The IMF is simply trying to frighten the USA into draconian cuts to its Social Programmes in the style of cuts that Ireland has undergone. The IMF is LYING about China overtaking the USA. its that simple they want the poor, disabled and Elderly to suffer more in the name of the Investor-Wealthy Class.

    April 25, 2011 at 5:28 pm |
  153. Jimmy

    Our government is to blame here! It is too costly to have a business here in the United States. The only way that businesses are able to make more money is to shut them down and ship them overseas (to China). With our stiff EPA regulations that continue to shut down our factories we continue to be more and more dependent on China for things like STEEL! Now our president wants us to abandon our oil dependence when we have 500 years of oil in surplus. So, what is all that oil for exactly??? WE ARE OUR OWN WORST ENEMIES! I don't see China rushing into Iraq or Afghanistan, do you? But here we are blowing these countries up, and pumping money back into them to "rebuild" them....? One more question on that not, have we rebuilt New Orleans from hurricane Katrina yet? Oh yeah, how about we take care of ourselves first!

    April 25, 2011 at 5:28 pm |
  154. Jesse

    Hey Jack,

    I say who cares?! . They have around 1.3 billion people while the U.S. has just over 310 million. Their GDP per capita is still less than 1/7 that of the U.S., and income disparity is a huge issue there. There are hundreds of millions of poor in China, and not poor like the poorer folks in the U.S., i'm talking about people living on a couple of dollars a day. They pollute their own cities to the point where people can't breathe or see, and sometime in the next 10-15 years they will very likely face a housing bubble that will equal or surpass the crisis experienced in the U.S. since 2008. Their economic rise is overblown and should be looked at cautiously. I am more worried about what could happen once they crash, since they are a major part of the world economy and the consequences could be worse than our recent 'great recession'.

    Jesse
    Montreal, Quebec

    April 25, 2011 at 5:28 pm |
  155. fred w. vondracek

    About 30 years ago, Time ran a cover story about how France was going to eclipse Germany as the dominant European economic power within a few years. It was based on superficial numbers crunching just like that being done by so-called journalists in predicting that China will end American dominance within a few years. Germany is booming and far outpaces France in GDP. China may boast some impressive numbers, to be sure, but REALLY eclipsing the economic power of the US is not going to happen for a long, long time!

    April 25, 2011 at 5:28 pm |
  156. Mark Hogendobler

    That China's economy will be larger than ours within years means ABSOLUTELY NOTHING. Do we really expect to rule an increasingly interconnected world economy forever? With a BILLION more people than the United States, it is inevitable that China's growing economy will surpass ours eventually, and that should not scare us. Biggest is not necessarily best, and in fact large economies and large societies often encounter massive inefficiencies and increased factionalism as they scale. We need to get out of this "mine is bigger than yours" mentality and start learning from the dozens of smaller and more successful societies (by many measures), particularly in Europe. I'm more concerned about the unprecedented concentration of wealth and power and the increased disparity between rich and poor in this country than which country happens to sell more widgets than us. Haven't you watched "Inside Job" yet?

    April 25, 2011 at 5:29 pm |
  157. Caitlin A.--Racine, WI

    My eleven-year-old sister is learning Mandarin. If we continue to let politics put constant stumbling blocks in our way, then I suggest that everyone else do the same.

    April 25, 2011 at 5:29 pm |
  158. Hugo Auler

    It is a shame that the US is allowing this to happen.
    This is happening because we have lousy politicians that think about them first and then the Country.
    We have to thing about our schools, our teachers, doctors, nurses, police offices, firefighters, scientists, people that will make a difference in our lives in our future and forget about football, basketball and baseball players, they do not contribute to our future.
    Science over sports, please... and the Country will continue to be the best in the World.

    April 25, 2011 at 5:29 pm |
  159. Koray

    Let's make that clear; China's success is created by the Western companies who starve for cheap labor. Ask any of these companies if they would keep their funds in China??? The answer is a simple "No".

    April 25, 2011 at 5:29 pm |
  160. Rebecca McNeese

    It means the President and Congress are more worried about their own political aspirations than risk losing their positions by cutting spending and doing what is necessary to turn this economy around. China's economy is growing by leaps and bounds and the U.S. is limping. Let's face it, we're a second rate country with a leadership that matches.

    April 25, 2011 at 5:30 pm |
  161. Al

    China will not surpass the US. They have an economic bubble waiting to burst that will make ours (US) look like an accidental checking account overdraft. Not to mention the fact that over the next few years a billion Chinese are going to be looking for the few remaing water resources that haven't been contaminated by toxins and chemicals pumped into them from making every plastic toy sold in the US for the past 10 years.

    April 25, 2011 at 5:30 pm |
  162. Jack - Lancaster, Ohio

    Mr. CaffertyL

    Many of us, including yours truly, try to be cerebral, clever, witty, and humorous. As far as China taking over our shaky number one status it means nothing funny at all. Also no elected official be they local, state or federal make me laugh. Things are dead serious.

    April 25, 2011 at 5:30 pm |
  163. Paul Foster

    I believe that the Gross Domestic Product of China is just about one third that of the United States...$15 trillion for the USA vs. $5.5 trillion for China...and much of that is domestic building using government funds. Great headlines, Jack, but, as usual a news story is skewed to make headlines. CNN and Fox may report different news but use the same sensationalistic tactics.

    April 25, 2011 at 5:30 pm |
  164. ted

    the USA became the greatest country on earth when there were no drug laws, you could marry your horse if you wanted to and if your wagon lost a wheel you fixed it instead of sitting around for years discussing how to prevent it in the future. The government has no morals, no common sense and needs to get out of the way of sane people so we could be great again!

    April 25, 2011 at 5:30 pm |
  165. Doris Lewis

    Why is it a bad thing that a much bigger country with a much bigger population would have a bigger economy than ours? What you are seeing is the growth of China's middle class. They will be buying lots of stuff, from us if we are smart, and our economy will grow, too. Did you want them to be a country of peasants forever?

    April 25, 2011 at 5:30 pm |
  166. Jimmy

    P.S. It's going to take a business man to run this business we call America! VOTE FOR TRUMP!!!

    April 25, 2011 at 5:31 pm |
  167. karin los angeles

    We do not make 1 television is the uSA anymore or anything, we used to be so proud of. Even Apple components are made in China. We borrow money for illegal wars and the only jobs left will be military and mcDonalds. We did it to ourselves by making corporations not pay anything for removing our jobs and taking them overseas.

    April 25, 2011 at 5:31 pm |
  168. MC Martino

    I have been working part time for two years. That means I watch more cable TV than the full time employee. It also means I got to give myself a great second education.

    As a project engineer i was trained to get things done. Nothing gets done in the US today, unfortunately, so I'm getting it done again elsewhere, for myself.

    I couldn't dream of doing what I am currently doing in the US today.
    I designed a product, found a manufacturer in China and will be in business selling my invention by the end of this year. I will pay the high taxes that I expect I will have to pay for the pleasure of living here. And I will then move my business to a state far away from NJ and NY.

    And I will watch Americans keep wringing theiie hands at those evil Chinese.

    But really, what's a start up to do?

    But what's a starter upper to do?

    April 25, 2011 at 5:31 pm |
  169. Scott, Ontario, Canada

    Jack just some thoughts from your neighbours up north. The time will never come where your politicians and the wealthiest businessmen and women promote higher taxes. If your not putting enough cash into your account to cover the bills you'll always have a negative balance.

    Look at one of your biggest retailers, Walmart. Turn any tag on an item and you'll see "Made in china" or some other country.

    You go into war after war and quickly drain yourself dry in the name of freedom?

    What do we know though we live in igloos.

    April 25, 2011 at 5:31 pm |
  170. jacquie Bell

    jack; our corporations have taken us down the road to being a third world nation. Low wages, no home ownership, dumb-downed society because of the corporate owned media. they have demonized our teachers, police and firemen, so they can give bigger tax breaks to the corporations. China already is controlled, wages, work standards non existent, kids as young as 12 or 13 working 14 hrs a day, these are US corporations not just Chinese. Thank Mr. Nixon and Mr. Reagan for giving the corporations the power to take our jobs and intellectual properties to China and putting them on top. Thanks Jacquie

    April 25, 2011 at 5:31 pm |
  171. Joe Fusco

    It's the people who blame politicians for our economic demise, while they shop at Walmart and keep China growing, by buying their cheap products who are the real problem.
    We have no one to blame but ourselves. CEO's need to make an extra percent or two on products by shipping jobs to China, and we are trained to say, "That's good capitalism" by our flag waving Republicans. Meanwhile, the rich get richer and don't pay taxes while the middle class is disappearing. We are a bunch of mindless Lemmings and deserve what we get.

    April 25, 2011 at 5:32 pm |
  172. Ken in NC

    It will mean the job of out sourcing our jobs is working.

    April 25, 2011 at 5:32 pm |
  173. HJ

    Take away the credit card, cut it up, and raise taxes to turn deficit into surplus. But noooo, the rich couldn't possibly give up their earned money. Just not logical to them.

    April 25, 2011 at 5:32 pm |
  174. tom chaffiotte

    The GOP went to war on a credit card, devasted the economy with de-regulations of Wall ST ( derivatives ), cut taxes for companies and billionaires . Republican presidents are responsible for 75% of our national debt. Now, they're hell-bent on doing whatever it takes to destroy the Obama presidency, regardless of how it will devasted our country.

    April 25, 2011 at 5:32 pm |
  175. Nathalie, Warwick, RI

    It means that China's 1.3 billion residents are still less than 25% as productive as America's 300 million residents. My question is, why the competition? We clearly live in an interdependent world economy. We as Americans can only benefit from the success of other nations. No need to be scared, Jack.

    April 25, 2011 at 5:33 pm |
  176. Bill Ansley

    What do you expect! They have1.4 Billion people compared to our 330 Million and growing at a faster rate. We just need to change our immigration policy and retain as many foreign students as possible, keep the brains in the US; have no corporate income taxes(they are paid by the masses anyhow) and be business friendly again. You stay healthy by having the brain power and capitalism. We must quit being a nanny state.

    April 25, 2011 at 5:34 pm |
  177. andyz Lynn, MA

    well, it looks like the Bilderburgers won. The Tri-lateral Commission has managed to bring America down a few levels. Don't you just love a great conspiracy theory?

    April 25, 2011 at 5:36 pm |
  178. john lidral

    the us needs to stop trying to police the world and cocentrate on our own economy and patroling our own boarders in the USA. We are creating way too much dept trying to solve the world problems. If our government would stop sending troups war plains and dollars fighting other countries wars then our country would not have any dept and our U S citizens would have jobs with no unemployment. Also we should be stationing our troups along the boarder between the USA and mexico for their training and housing also with shoot to kill. We also need to impose the death penalty to all life sentance prisioners in our prisons instead of keeping them alive till they die or get released

    April 25, 2011 at 5:36 pm |
  179. don from ca

    absolutely nothing given that china's population is more than four times the U.S China's per capita income – which is all that really matters – will still be a fraction of u.s.per capita income.

    April 25, 2011 at 5:36 pm |
  180. Kriss Perras Running Waters Idaho/California

    What does it mean? I had this thought about five years ago that the US was going the way of its parent, the UK, in an empirical downward spiral. The influence of the UK has lessened considerably in the last century. The US has certainly become its parent, the UK and will go the way of its parent. Second, China has its ducks in a row on the green front, a powerful emerging economy the US is fighting tooth and nail. Part of the massive growth in China is this new green economy. It seems to me this is the new race to the moon. Its the race to be green, and we're standing in the thick of the oil unable to get out.

    Empires never stand very long. God bless America, but we are truly headed for a lesser international influence. I also thought this was true when we lost our international clout with the lies we told to the UN requesting that the international community get behind us for Iraqi oil invasion. It seems we've gained some of that clout back with Secretary Clinton's request for help with Libya. It was an honest request with truthful information. The backing of the international community shows they no our nose isn't growing anymore!

    April 25, 2011 at 5:36 pm |
  181. Austin

    Does it really matter? Even when the Chinese economy passes the American (which has been relatively easy to predict), American standards of life, health, etc. will still be better as China's economic growth is actually damaging the country through extreme pollution.

    One of China's largest health crises is lung disease in major cities from air pollution. Is that really worth the extra economic growth?

    Don't forget the population factor either.

    April 25, 2011 at 5:37 pm |
  182. a.g.

    hey jack , China isnt stupid.Our business leaders chose to take jobs from America to pay other poor countries smaller wages to make bigger profits for them selves and now 10 years later--the business leaders are whining how China's doing so much better then us!?
    Why flip the blame on them?We created it!!! CHINA'S SUCCESS IS DUE TO GREEDY CORPORATE AMERICANS WHO HAD TO GO GLOBAL.we have become a country of poor losers.
    .

    April 25, 2011 at 5:42 pm |
  183. MC Martino

    It means that I am currently developing my little old invention in China where things get done. It means I will stop blaming the Chinese for doing what any sane capitalist would do (it's just funny it happens to be the former RED China who is doing it)

    Look at the buildings and the expansion. Americans really have to stop with the excuses. What I am doing there I could never imagine doing in the US. Am I helping them become number One.

    Yup. It's the new frontier and nothing will change it. You can't stop whats coming and my government didn't even try.

    April 25, 2011 at 5:43 pm |
  184. Tony

    Five years from now we will all thank the tea party for calling Obama a socialist, but it will be too late because Republicans will have medicare as the system of the past , social security privatized and congress as apprentice show with Donald firing senators. Jack I am not surprised, Americans are getting stupid every split of a second because we really don't care about China surpassing us, we want Trump!
    Tony
    NH

    April 25, 2011 at 5:43 pm |
  185. Henry - georgia

    Jack
    It means career politicians have led us down this path by implementing too many government programs that pay people to idle their land and not farm, idle their minds and become ignorant and idle their bodies and not get a job and just wait for Uncle Sam to deliver a government check every month. What can you expect when this happens? I can't wait to vote for Donald Trump!!!!

    April 25, 2011 at 5:43 pm |
  186. Ralph

    China's economy is based on slavery! Yes, slavery! Do not try to convince me that $2 for a day of work is not slavery. We should stop and think about the Chinese model for a minute and we'll realize that regardless of all the growth, most of the Chinese people still live in misery with very little to no rights. Take our democracy and replace it with an authoritarian regime, pay our teachers $2 a day, our factory workers $2.25 and let our policemen and women work for 3 meals a day and we can consolidate our #1 status for a very long time.
    They want the first place on paper: fine! Be the number 1 economy in the world but let's see how long this model will last based on all the abuses.
    Jack I bet you a Chinese payday that they won't make it till 2016.

    April 25, 2011 at 5:43 pm |
  187. Louis Lemieux

    Jack, even if China's global economy surpasses that of the US, their population is four times that of the US. This means their average standard of living will be only one fourth of ours. By the time their standard of living reaches ours, maybe all countries will be united as our 50 states are united! Peace on Earth at last!

    April 25, 2011 at 5:43 pm |
  188. Jim

    It simply means the American public doesn't care what happens to their neighbor as long as they can save a dollar. Corporate America will sell the American worker down the drain as long as it puts 30 pieces of silver in their hand.

    April 25, 2011 at 5:44 pm |
  189. tony

    A real shame. The things that politicians say but6 never keep there promise. This a perfect example. More jobs in USA! China is still laughing. Is it a wonder Donald Trump hits a chord.Do not give up USA!

    April 25, 2011 at 5:45 pm |
  190. jonathan baldwin

    it is a tragedy that america is indecisive on the national budget crisis, which IS a crisis, despite while house comments spinning the national debt into our children's future. Let's just pay tab, so we ALL have a future.

    April 25, 2011 at 5:45 pm |
  191. David Chapman

    Why should anyone be surprised by this "sudden" revelation? This outcome was cast decades ago with our government's trend setting decision to permit & support the exporting (outsourcing) of our domestic steel and textile industries to China and other countries abroad. Today, decades later, the corporate mantra is human resource/labor arbitrage within any industry vertical or segment. No area of any large corporation is safe from this outsourcing trend, Legal, HR, Manufacturing, administrative, and the list goes on.
    I love my country, but that does not mean I have to love capitalism unfettered. It seems today the love of money & power is more important than love of country. What happened to patriotism? Ross Perot was not far off the mark regarding NAFTA & the loud sucking sound of jobs going across the border. The difference today though, is the loud sucking sound of jobs going abroad anywhere, China included, other than here in the good old USA.

    April 25, 2011 at 5:46 pm |
  192. David of Alexandria VA

    I think that somewhere along the line, the US lost track of a couple simple concepts: Work hard and no free rides. The same national spending frenzy that lead otherwise rational people to mortgage their homes to the point of foreclosure have led our government to ignore the looming clouds of deficits, watch jobs disappear for decades, continue to build bloated government programs and pretend both the immigration and energy issues don't really exist. And still we have people and politicians who continue to cry for more handouts without more economy to support them. What are we thinking – or are we?

    April 25, 2011 at 5:47 pm |
  193. brook - GA

    This doesn't surprise me. Lobbyist and politicians in Washington are responsible for this. We should give them all the credit. I hope "The Donald" runs and wins. At least he sees it as it is.

    April 25, 2011 at 5:48 pm |
  194. Will Gavin

    Although China's economy may overtake the economy of the United States, it does not necessarily entail utter chaos. The average living standard in China is much, much worse compared to that of the United States. The majority of China's population is uneducated. The United States will always be the greatest country ever to reside in the world.We need to stand strong, to force our representatives and business leaders to get their acts together.

    April 25, 2011 at 5:49 pm |
  195. Lucci

    China's Economy getting bigger then ours should not come as a surprise. The Chines are free market Nationalists, The USA Just goes where we can make a Quick buck regardless if its good for the country or not. This is the result when greed hijacks true capitalism.

    April 25, 2011 at 5:50 pm |
  196. Danni Z

    It means that the United States will have competition in the world influence market. Can you imagine what will happen when China starts gaining support from countries all over the world. Others will not see us as the primary-go-to for support. Than again that could get our own economy going again by utilizing our resources for our own personal use.

    Danni Z
    Upland Ca

    April 25, 2011 at 5:50 pm |
  197. Terry- Greensburg, IN "Hoosier Hillbilly"

    "Jack!", is it really worth it! REALLY!

    April 25, 2011 at 5:50 pm |
  198. harvey Tenn

    Jack
    It means politicians and K Street must go and the only one I know who can shake things up is Donald Trump.

    April 25, 2011 at 5:51 pm |
  199. john ..................... marlton nj

    It's expected .. they have three to fours times the people and their people actually WORK

    April 25, 2011 at 5:51 pm |
  200. Scott Stimpson

    Jack, the debt ceiling is just the tip of the iceberg.

    The bottom line is the fact that China has 1.3 billion people while India has 1.2 billion with the U.S. coming in third in population with 311 million.

    Basic laws of supply and demand (along with dramatic differences in standards of living) give these two countries a competitive advantage when their citizens are willing to work for pennies on the dollar, much to the dismay of the union bosses.

    The only way around this is to attract companies back with attractive tax incentives such as what's found in Kansas with their Business and Jobs Tax Credit. Create a job, get a credit against your tax bill.

    Economics has no conscience. It exists free of politics. Get competitive or get out of the way!

    April 25, 2011 at 5:53 pm |
  201. Laura

    It means we will be following Europe as our sphere of influence recedes. It's not too late to change course, but it's getting pretty close. It wouldn't be so bothersome if China had higher standards as to its own people the world. Can anyone see the Chinese rushing in to the scene of natural disasters to save people? Do people worldwide aspire to live like the average Chinese?
    Laura Darke
    Hawthorne, CA

    April 25, 2011 at 5:56 pm |
  202. Fred

    It means that the non-tax paying but we need a tax break multi-national, job out sourcing, (who though born in the USA, have no loyalty to either America or the American people), that blame labor unions and teachers for the nations deficits, who have bought the best government that their money can buy corporatists have won,

    April 25, 2011 at 5:56 pm |