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Tuesday, December 27, 2011

US is in sharp decline

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"This chart from Arvind Subramanian's new book, 'Eclipse: Living in the Shadow of China's Economic Dominance,' is interesting in three respects. First, it tracks broadly the economic dominance of the previous two superpowers, the United States and Great Britain. Second, it suggests today that China has come close to matching the United States in terms of dominance.  Third, it suggests that under conservative assumption about economic growth for China and the United States, by 2030 the world may well see a G-1, with China as the economic hegemon." -- Steven R. Weisman, editorial director, Peterson Institute for International Economics

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