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China to overtake the US as world’s most POWERFUL economy [Copy link] 中文

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Post time 2017-12-27 15:05:36 |Display all floors

By Taryn Tarrant-Cornish

China's Economy.JPG


CHINA is set to dominate theglobal economy as it becomes the richest country in the world by 2032, expertshave revealed.The United States will be overtaken as the most powerfuleconomy in the world as China’s strong growth continues, according to theCentre for Economics and Business Research.
World Bank lead economist John Litwack said: “China has maintained itsgrowth resilience and gained reform momentum.”
The UK-based think tank revealed what they expect to be theworld’s 10 biggest economies in 2032, with the USA sitting in second behindthe communist superpower.
India, Japan, Germany and Brazil make up the rest of thetop six ahead of the UK in seventh.
China’s growth has been partly driven by the “new economy”with internet firms succeeding with massive growth of 16 percent in the last decade, the Chinese Academy of Social Sciences said.
The report claimed that President Donald Trump’sisolationist trade agenda will contribute to its downfall as the world biggesteconomy.
The UK think tank said: “The impact of President Trump ontrade has been less severe than expected, the USA will retain its global crowna year longer than we anticipated in the last report.”
South Korea and India will both climb four places, withSeoul making its first appearance in the top 10 and eighth.
The rise of Asian economies is reflected in the gloomyfortunes of the former global powers of Europe.
Germany and the UK will fall one place while France’seconomy tumbles a worrying four places to come in at number nine behind SouthKorea.
The last entry in the top ten sees Indonesia rise animpressive six places to enter the top ten for the first time.
The news comes after President Trump defended hiscontroversial tax plan that will see businesses and billionaires enjoystaggering cuts to their bills.
Benefits for most other taxpayers would be smaller, but thePresident attempted to sell the bill as a “Christmas present” for middle-classAmericans in part because it would trigger job growth.
President Trump told reporters on the White House lawnbefore travelling to Camp David for the weekend: “It’ll be fantastic for themiddle-income people and for jobs, most of all."
He also predicted the legislation would cause the economyto soar beyond its current 3 per cent rate of growth.

Manyeconomists believe that attaining that would be challenging – the nation lasttopped 5 per cent in 1984.The Republican plan is the widest-ranging reshaping of thetax code in three decades and is expected to add to the nation’s $20trillion(£15trillion) debt.
The tax cuts are projected to add $1.46trillion over adecade.

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Post time 2017-12-27 20:06:28 |Display all floors
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Post time 2017-12-30 05:31:00 |Display all floors
seneca Post time: 2017-12-27 20:06
Oh my Mao! I made a bad mistake: I put a bet on SINGAPORE becoming the world's No. One economy by  ...

Open your eyes wide, can't your scavenging eyes catch the route from where food comes from?
Refreshed.

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Post time 2017-12-30 07:24:49 |Display all floors
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Post time 2018-1-1 18:33:59 |Display all floors
seneca Post time: 2017-12-30 07:24
Food? Where does it come from? It CERTAINLY does NOT come from CHINA!

CHINA NEEEDS TO IMPORT MORE ...

Why not?

Need to import something to balance the tremendous trade surplus.
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Post time 2018-1-2 12:19:38 |Display all floors

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