Tuesday, April 26, 2011

Is the Age of America Coming to An End?

Heritage  "A dire prediction hit the news yesterday: A date has been set for the end of the “Age of America,” — i.e., when China’s economy will overtake the United States...by 2016. Though there are reasons to question the IMF’s conclusions, it is true that if the U.S. does not get its fiscal house in order, the era of American leadership will be over.
"... China’s evolution into an economic superpower will spell the end of America’s economic dominance on the global stage:..."

Foreign Policy
"We've Heard All This About American Decline Before." "The Chinese challenge to the United States is more serious for both economic and demographic reasons. The Soviet Union collapsed because its economic system was highly inefficient, a fatal flaw that was disguised for a long time because the USSR never attempted to compete on world markets. China, by contrast, has proved its economic prowess on the global stage."
Is the ‘Age of America’ Really at an End? "You’ve no doubt read the ghoulish MarketWatch headline: “IMF Bombshell: Age of America near end.” The story goes on to report that “China’s economy will surpass that of America in real terms in 2016 – just five years from now.”
"Well — yes and no and how much does it really mean?"

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