China Overtaking Europe

Originally Posted by Carrera

Hmmm, I'm afraid we seem to be destined to disagree. However, I think david will be on your side over this one (China).

Originally Posted by Carrera

A few months ago, I shared the same European dream you do but my feeling is Europe is going to sour - which is a pity. I don't believe Europe can hope to compete with China and I'll go so far to say China will definitely be the next global superpower.

Originally Posted by Carrera

China’s GDP is now reckoned to have been worth just under 16trillion yuan, or $1.93 trillion (£1.1 trillion) last year, 16.8 per cent more than it had thought. Projections by Goldman Sachs show that, on present trends, China will leapfrog the US to become the world’s biggest economy by 2035."

Originally Posted by Carrera

China is the only military/economic rival to the U.S. Europe has a higher living standard than the U.S. but level of jobs created fall way short of what is required. Europe isn't creating sufficent manufacturing jobs while China is soaring ahead.

Originally Posted by limerickman

This discussion isn't about whom is on who's side.




Europe outperforms China : if you're sour living in Europe you'd be really sour in China.




$1.93 trillion is 10 time smaller than the EU current GDP.
2004 EU GDP = $11.3 trillion (that's 9 times the size of China's GDP)
source EUStat 2004






Your taking rubbish again :
US GDP is 4.1%
EU is 4.3%.

Originally Posted by wolfix

The EU is the largest econmic block since sometime 2004.... Isn't there talk of a merger with North America?
I think there has been a lightening up of Chinese supression. But if they continue to embrace the policies of the rest of the world they will face the same problems as the other industrial countries face. The major one will be the human rights people will be crawling all over them. The envoromental people will be there... And China is just across a mudpuddle from California, so then people like Snoop Dogg, Barbra Streisand, and that guy from MASH will really have something to do......... Of course that guy from MASH will not be welcome. The Chinese will remember him from re-runs of MASH and think he was a real soldier. I am sure they still have bad feelings about him, Radar, Hawkeye, and Colonel Potter. And don't let me get started on Colonel Blake......

Originally Posted by Carrera

Er, I'm planning on learning Mandarin actually but I'll skip the script and try Romananized alphabet.
I firmly believe China will be the next (possibly biggest) global superpower.
I concede Europe has a far higher standard of living but Europe's economic growth isn't so impressive. Europeans simply won't be able to sustain their present living standard and welfare without vital economic growth. China has no such handicap.
"Over the past decade, according to the International Monetary Fund's latest World Economic Outlook, growth in the core economies of the EU that make up the eurozone has been a miserable two per cent per annum. Growth in China has been more than four times faster.Today, as a result of reforms dating back to the late 1970s, China has the most dynamic economy in the world and quite possibly in all history. Europe, by contrast, is fast becoming the "sick man" of the developed world - a title held by Japan for most of the past 15 years."

Originally Posted by Carrera

"China's rise is no longer a prediction. It is a fact. It is already the world's fastest-growing large economy, and the second largest holder of foreign-exchange reserves, mainly dollars. It has the world's largest army (2.5 million men) and the fourth largest defense budget, which is rising by more than 10 percent annually. The results have been astonishing. China has grown around 9 percent a year for more than 25 years, the fastest growth rate for a major economy in recorded history. In that same period it has moved 300 million people out of poverty and quadrupled the average Chinese person's income. And all this has happened, so far, without catastrophic social upheavals. The Chinese leadership has to be given credit for this historic achievement."
Fareed Zakaria - Editor, Newsweek International

Originally Posted by Carrera

The latest data concludes China has just overtaken Italy in the world economic ratings and is soon going to overtake Britain and France. The growth of China's economy has been under-estimated by both the Chinese government and in other countries.
China's productivity and economic advancement is proceeding at a dramatic rate, twice as fast as previously thought.
China has some huge advantages over Europe.

Originally Posted by Carrera

I see China as going the way of seventies and eighties Japan but bigger terrain.
Still there is vast poverty in the country and outside urban areas. However, the cities are prospering, especially Bejing. Then you have Hong Kong which is reasonably content with China so far.
I have a friend who went to China and she told me the place is positively booming. In fact, it's getting more expensive over there for tourists than it used to be.
As for the E.U. six months ago I was a believer in the E.U. dream but the truth is Germany has huge unemployment and slow economic growth. Italy has already been overtaken by China and that's official. France is to be overtaken very shortly.
Maybe the most promising E.U. economy at present is Estonia (Ireland too), however, but this growth isn't shared throughout the E.U.
And above all the major flaw: Europe can never rival the U.S. so let's not kid ourselves. The problem is Europe is too divided and diverse and can never have one, concrete line of policy (in economic terms it will be tough and in foreign policy probably impossible).
So, you Americans on the forum might as well admit it. It's China you're awed by not Europe. Correct?

Originally Posted by Carrera

I see China as going the way of seventies and eighties Japan but bigger terrain.
Still there is vast poverty in the country and outside urban areas. However, the cities are prospering, especially Bejing. Then you have Hong Kong which is reasonably content with China so far.
I have a friend who went to China and she told me the place is positively booming. In fact, it's getting more expensive over there for tourists than it used to be.
As for the E.U. six months ago I was a believer in the E.U. dream but the truth is Germany has huge unemployment and slow economic growth. Italy has already been overtaken by China and that's official. France is to be overtaken very shortly.
Maybe the most promising E.U. economy at present is Estonia (Ireland too), however, but this growth isn't shared throughout the E.U.
And above all the major flaw: Europe can never rival the U.S. so let's not kid ourselves. The problem is Europe is too divided and diverse and can never have one, concrete line of policy (in economic terms it will be tough and in foreign policy probably impossible).
So, you Americans on the forum might as well admit it. It's China you're awed by not Europe. Correct?

Originally Posted by Carrera

Hmmm, I'm afraid we seem to be destined to disagree. However, I think david will be on your side over this one (China).
A few months ago, I shared the same European dream you do but my feeling is Europe is going to sour - which is a pity. I don't believe Europe can hope to compete with China and I'll go so far to say China will definitely be the next global superpower.
China is the only military/economic rival to the U.S. Europe has a higher living standard than the U.S. but level of jobs created fall way short of what is required. Europe isn't creating sufficent manufacturing jobs while China is soaring ahead.
The Chinese military program is progressing and heavily linked to the space program so China is expected to leave Europe way behind militarily.
If China's economy continues to grow at this rate it will be right up there with the U.S. very shortly and it's set to overtake France within a very short space of time.
"On the new data, China has eclipsed Italy as the world’s sixth largest economy and should overtake France and Britain next year. It would already have done so if Hong Kong, which is accounted for separately, had been factored in.
China’s GDP is now reckoned to have been worth just under 16trillion yuan, or $1.93 trillion (£1.1 trillion) last year, 16.8 per cent more than it had thought. Projections by Goldman Sachs show that, on present trends, China will leapfrog the US to become the world’s biggest economy by 2035."

Originally Posted by wolfix

The EU is the largest econmic block since sometime 2004.... Isn't there talk of a merger with North America?
I think there has been a lightening up of Chinese supression. But if they continue to embrace the policies of the rest of the world they will face the same problems as the other industrial countries face. The major one will be the human rights people will be crawling all over them. The envoromental people will be there... And China is just across a mudpuddle from California, so then people like Snoop Dogg, Barbra Streisand, and that guy from MASH will really have something to do......... Of course that guy from MASH will not be welcome. The Chinese will remember him from re-runs of MASH and think he was a real soldier. I am sure they still have bad feelings about him, Radar, Hawkeye, and Colonel Potter. And don't let me get started on Colonel Blake......