When I first learned about this, I was quite stunned.

I knew that China’s economy had been roaring, but like most Americans I just assumed that the U.S. would continue to remain head and shoulders above everyone else.

Unfortunately, things are changing at a pace that is much faster than most people ever thought possible. The following are 26 other ways that China has surpassed America…

#1 When you add up all imports and exports, China now accounts for more total global trade than the United States does.

#2 There is now more total corporate debt in China than there is in the United States.

#3 During 2013, we sold about 121 billion dollars worth of stuff to the Chinese, but they sold about 440 billion dollars worth of stuff to us. That was the largest trade deficit that one nation has had with another nation in the history of the world.

#4 China is now the leading manufacturer of goods in the entire world.

#5 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Today, China’s high-tech exports are more than twice the size of U.S. high-tech exports.

#6 The United States had been the leading consumer of energy in the world for about 100 years, but during the summer of 2010 China took over the number one spot.

#7 China now has the largest new car market in the entire world.

#8 China has more foreign currency reserves than anyone else on the planet.

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

#11 15 years ago, China was 14th in the world in published scientific research articles. But now, China is expected to pass the United States and become number one very shortly.

#12 China is also expected to soon become the global leader in patent filings.

#13 China awards more doctoral degrees in engineering each year than the United States does.

#14 China has the world’s fastest train and the world’s most extensive high-speed rail network.

#15 China uses more cement than the rest of the world combined.

#16 Today, China produces nearly twice as much beer as the United States does.

#17 85 percent of all artificial Christmas trees are made in China.

#18 There are more pigs in China than in the next 43 pork producing nations combined.

#19 China is now the number one producer of wind and solar power on the entire globe.

#20 China produces more than twice as much cotton as the United States does.

#21 China produces more than three times as much coal as the United States does.

#22 China now produces 11 times as much steel as the United States does.

#23 China controls over 90 percent of the total global supply of rare earth elements.

#24 An investigation by the U.S. Senate Committee on Armed Services found more than one million counterfeit Chinese parts in the Department of Defense supply chain.

#25 According to author Clyde Prestowitz, China’s number one export to the U.S. is computer equipment. According to an article in U.S. News & World Report, the number one U.S. export to China is “scrap and trash”.

#26 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

The Chinese are using some of their new wealth to buy up land, properties and businesses here in the United States. In fact, just the other day we learned that a group from China is buying New York City’s Waldorf Astoria hotel.


[url]http://www.zerohedge.com/news/2014-10-09/not-just-largest-economy-%E2%80%93-here-are-26-other-ways-china-has-surpassed-america[/url]

When will Nigeria learn from China? We have the human resources like China but still remain one of the world poorest nation

Nigeria will soon get there. Watch out!

nice

Raiders:
When will Nigeria learn from China? We have the human resources like China but still remain one of the world poorest nation

Nigeria with a GDP of 521 billion dollars is the world's 25th largest economy and by a mile Africa's largest.

We are a middle income country.

China used more cement in the last decade than America did in the last 100years!

America's grip on World politics will also chicken out earlier than projected with the synergy between China and Russia. A beyond-unconcern interest in global politics will definitely reduce the number of global conflicts and of course death.

It's only a phase - Greek, Persia, Roman, Ottoman, England, Soviet, US now China... perhaps Nigeria will grow in the next century

Henry120:


Nigeria with a GDP of 521 billion dollars is the world's 25th largest economy and by a mile Africa's largest.

We are a middle income country.

A GDP of 521 billion dollars for a population of 175 million people makes no sense. There are countries with far smaller population of less than 30 million people that has a GDP of over 500 billion dollars.

Wt are you realy pointing at?everything u just said still does nit make China the world largest economy,everything u posited is based on the size of their population...Chinese economy is worth about 10trillion Dolars,while the USA is abouth $17trillion...that difference will take years to bridge

LeStylo:
China used more cement in the last decade than America did in the last 100years!

America's grip on World politics will also chicken out earlier than projected with the synergy between China and Russia. A beyond-unconcern interest in global politics will definitely reduce the number of global conflicts and of course death.

It's only a phase - Greek, Persia, Roman, Ottoman, England, Soviet, US now China... perhaps Nigeria will grow in the next century

what you didnt notice is that America controls the Chinese economy. According to the article, US spend 440 billion dollars in China last year.without America the Chinese economy will fall

Raiders:
A GDP of 521 billion dollars for a population of 175 million people makes no sense. There are countries with far smaller population of less than 30 million people that has a GDP of over 500 billion dollars.

My point is, it isn't poor as you claimed. Even in GDP PPP it still works out at $4400- $4700 per capita. It is middle income.

Yes I agree, we should have at-least a Trillion dollar economy for our population size, and 521 billion dollars is small for our population size, however reaching a Trillion dollar target requires all nigerians leader/lead to positively contribute.

Henry120:


My point is, it isn't poor as you claimed. Even in GDP PPP it still works out at $4400- $4700 per capita. It is middle income.

Yes I agree, we should have at-least a Trillion dollar economy for our population size, and 521 billion dollars is small for our population size, however reaching a Trillion dollar target requires all nigerians leader/lead to positively contribute.

I still consider it poor because most Nigerians survived on less than 2 dollars a day. Your calculation of 4400 dollars per capita is not really correct because you didn't account for the huge income inequality that occurs in Nigeria economy. Unlike China and US, we don't even have a huge middle class population. Its either you are rich or poor in Nigeria. I agree with your point that reaching a GDP of 1 trillion dollars will require Nigeria to have good leadership. However Nigeria is still classified as a poor country by UN, IMF and other international bodies.

Raiders:
what you didnt notice is that America controls the Chinese economy. According to the article, US spend 440 billion dollars in China last year.without America the Chinese economy will fall

This is normal. America spent such amount in China. The question you should ask is if America has the capacity to withhold spending the amount? If they don't, then China is the leader.

Think of how much the African countries spend in the American economy yearly. Does that give us any control over America, or make us their Slaves?

fairheven:
Wt are you realy pointing at?everything u just said still does nit make China the world largest economy,everything u posited is based on the size of their population...Chinese economy is worth about 10trillion Dolars,while the USA is abouth $17trillion...that difference will take years to bridge

There is more that meet the eyes to the exchange rate of world currencies. That was why IMF and world leading economists worked out how to calculate the real size of an economy after[b] adjusting for purchasing power of the currencies[/b]. This is only but fair.

http://www.dailymail.co.uk/news/article-2785905/China-overtakes-U-S-world-s-largest-economy-IMF-says-economy-worth-17-6trillion-America-falls-second-place-time-1872.html

Raiders:
I still consider it poor because most Nigerians survived on less than 2 dollars a day. Your calculation of 4400 dollars per capita is not really correct because you didn't account for the huge income inequality that occurs in Nigeria economy. Unlike China and US, we don't even have a huge middle class population. Its either you are rich or poor in Nigeria. I agree with your point that reaching a GDP of 1 trillion dollars will require Nigeria to have good leadership. However Nigeria is still classified as a poor country by UN, IMF and other international bodies.

Nigeria is not a poor country by any standards. We have a poverty rate of around 33% of the entire population.


World Bank Cuts Nigeria's Poverty Rate to 33.1%, Says North is Poorer

Quote:

22 Jul 2014


*Predicts 7.4% growth in 2014
James Emejo

The World Bank Tuesday said there had been positive economic trend as well as significant progress made towards poverty eradication in the country.

It said in its second edition of the Nigeria Economic Report (NER) which was launched in Abuja that going by the recent rebasing of the economy as well as analysis from the new General Household Surveys (GHS) conducted by the National Bureau of Statistics (NBS) with the support of the Bank, new poverty estimates in 2010/2011 and 2012/2013 should be within the range of 35.2 per cent and 33.1 per cent respectively.

Although the previous NBS Harmonised Nigeria Living Standards Survey (HNLSS) 2009/2010, which took a larger study sample into account had estimated poverty rate at 62.6 percent, the Breton woods institution said it had strong reasons to believe that "consumption was seriously underestimated in the large HNLSS household survey in 2009/2010."


It stated that an analysis of a panel survey data (GHS) of 5000 households for 2010/2011 and 2012/2013 provided "evidence that consumption is likely higher than previously estimated from the HNLSS survey."


Furthermore, the new GHS analysis put rural poverty at 46.3 per cent and 44.9 per cent in 2010/2011 and 2012/2013 respectively compared to 69.1 per cent and 51.2 per cent respectively in the HNLSS 2009/2010 estimates by the NBS.

The World Bank estimates further suggested that the number of poor Nigerians remained at 58 million adding that more than half of the figure are located in the North- east or North- west.

Specifically, it noted:" Poverty rates range from 16 per cent in the South- West to 52 per cent in the North-East. While the South and North central experienced declines in the poverty rate between 2010/2011 and 2012/2013, the poverty rate increased almost unchanged in the North West."
http://www.thisdaylive.com/articles/...poorer/184259/

For your mind. Except for Beijin and 2 other cities, they still use latrin. China dont pay Social security, they have the most {poor citizen} in the world. Do you know macro economic self. I forsee philip curve for china.

Without making noise too!
Nigeria! Siddon dey FOOOOOOL una sefs!