CHINA

China, the new economic superpower to be !!!!!


China just passed a new milestone indeed

the Chinese grow seems to be unstoppable:

China Passes Japan as Second-Largest Economy

http://www.nytimes.com/2010/08/16/business/global/16yuan.html?_r=1&hp

After three decades of spectacular growth, China passed Japan in the second quarter to become the world’s second-largest economy behind the United States, according to government figures released early Monday.

China will pass the United States as the world’s biggest economy as early as 2030. America’s gross domestic product was about $14 trillion in 2009.

This country has roughly the same land mass as the United States, but it is burdened with a fifth of the world’s population and insufficient resources.

Its per capita income is more on a par with those of impoverished nations like Algeria, El Salvador and Albania — which, along with China, are close to $3,600 — than that of the United States, where it is about $46,000.

It amazes me that Japan, with a population of roughly 130 million, has been #2 for so long.

Japan, pound for pound, is the most productive in the world. Other Asian powerhouses are S. Korea and Taiwan -- both fighting far above their weight.

That China, with 2.6 BILLION arms and legs, is only now catching tiny Japan, says something.
But I agree, and has been common knowledge for 50 years, that China will one day be the world leader.

There are advantages to developing late -- you don't have to spend money perfecting technology and making mistakes and you can let other, already-developed nations, continue to push future technology.