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IMF bombshell: Age of America nears end Brett Arends' ROI - MarketWatch
There are big issues with this theory, no doubt. Most people in China live in abject poverty, and the divide between the haves and have-nots there is massive. The Chinese people in general aren't thinking much about taking over the planet; they're trying to eat.
The ugly truth for China is that they are still completely dependent on the U.S. And in the end, he with the biggest bombs will forever rule the day. Some things never change.
BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
The Obama deficit tourThe Wall Street Journal editorial page’s Steve Moore critiques the president's speeches attacking Republican budget plans.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Put that in your calendar.
It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.
There are big issues with this theory, no doubt. Most people in China live in abject poverty, and the divide between the haves and have-nots there is massive. The Chinese people in general aren't thinking much about taking over the planet; they're trying to eat.
The ugly truth for China is that they are still completely dependent on the U.S. And in the end, he with the biggest bombs will forever rule the day. Some things never change.