China is Going to Overtake The U.S Economy

Tomorrow’s Press / follow-up: preparing the U.S. economy to lose his position as the largest economy in the world during the current year, to replace him for the first time the Chinese economy, which is still recorded strong growth in the time that remains his U.S. counterpart, is struggling after the economic crisis that affected him throughout the years.

It is clear from a range of figures from the agencies that the global economic supremacy Chinese will happen before the end of the year 2014, at which time all of the talk about the expectations outweigh the Chinese is expected in 2019, as they talk about what some of the expectations after that date.

The United States sits on the throne of the world economy as the largest and most important economy in the world since 1872, when Britain had turned from the center, and kept it since then and even now.

According to extensive research conducted by the agency economic subsidiary of the World Bank, the measurement of the true costs of living and purchasing power of money could give an indication of the most accurate on the size of the economy in any country, and gives a greater ability to compare the economies in the world, and accordingly, the GDP of the United States reached in year 2012 about 16.2 trillion dollars, and China amounted to 8.2 trillion dollars.

And found the agency (International Comparison Program) in the search, which included calculation of new GDP that the Chinese economy was less than half the size of the U.S. economy in 2005, where he was its size equivalent to only 43% of the size of the U.S. economy, while in the year 2011, the size of the Chinese economy amounted to 87% of his U.S. counterpart, with strong growth registered by Beijing.

According to the research results published newspaper “Financial Times”: “For the year 2011, the U.S. economy remains the largest in the world, but China comes immediately after and narrowly, if we adopt a new mathematical formula.”

The IMF predicts that China will achieve economic growth overall during the period from 2011 to 2014 by 24%, while expected to record U.S. economy grew during the same period by 7.6%, which means in the end that the Chinese economy will end the year ahead in the size of the economy U.S..

She says, “Financial Times,” The superiority of the Chinese economy to its American counterpart will lead to a complete reversal in the global economic landscape, and will change the importance of each state for the economic movement in the world.

According to the data referred to the mathematical formula new, India will be resolved in the third place in terms of the size of its economy in the world, after China to be in the first place, and America in the second, which would have doubled the size of its economy than 19% of the size of the U.S. economy in 2005 to 37% of the size of the U.S. economy in 2011.

It is noteworthy that China was in the month of December last year has overtaken the United States for the first time in its history in terms of oil imports, which come about from the outside, which is read by analysts and economists as an important indicator of industrial growth witnessed by the country, which leads to a rise in demand for fuel.

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