China Lead the Asian Century Arrival_7935

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China Lead the Asian Century Arrival
If Obama hoped that China appears to believe he can change - monetary policy reform, then he will only see small changes. China rejected U.S. Treasury Secretary Timothy Geithner's limit global current account imbalances proposal, Geithner may have heard the "we are the boss," the voice. Federal Reserve Chairman Ben Bernanke announced a new round of "quantitative easing" policy to try to stimulate the U.S. economy, got the same treatment. A well-known critic of China, said the U.S. move "out of control" and "irresponsible."
Can not find a more intelligent people to discuss the economic history of today's two most interesting question: Why the West in the Forbidden City after the completion of five hundred years not only the control of China, also controls the world? Now the West has been dominating the world is coming to an end the period?
Now, China's per capita GDP is 19% of the United States, and the beginning of reform and opening up 30 years ago when only 4%. Hong Kong, Japan and Singapore as early as 1950,You are not allowed to view links. Register or Login, reached this level. According to The Conference Board's statistics, the per capita GDP of Singapore is currently 21% higher than the U.S.. Are roughly flat with the United States,You are not allowed to view links. Register or Login, Japan and Taiwan 25% lower than the United States, South Korea, 36% lower than the United States. Only a fool would bet that China will not embark in the coming decades the same path of development.
China's scale and pace of industrial revolution in the world, second to none. In 26 years time,You are not allowed to view links. Register or Login, China's GDP increased 10 times. After the United Kingdom in 1830 took 70 years to the GDP increased by 4 times. According to data from the International Monetary Fund, 2013, China's share of global GDP more than lO%. Goldman Sachs further projects that by 2027, China's GDP will surpass the United States, which recently surpassed Japan as the same.
But in some ways, the Asian century has arrived. China's share of global manufacturing industry is about to surpass the United States, and China in the past 10 years to catch up with Germany and Japan. China's largest city Shanghai has ranked first in the world's major cities, Mumbai followed; no American city can match it.
There is nothing faintly looming financial crisis, more specifically the United States to accelerate the global economic power shift from West to East. The ratio of debt to income up to 312%. Greece has already fallen into a terrible predicament. However, according to data from Morgan Stanley, the U.S. debt to income ratio has reached 358%. Congressional Budget Office estimates that by 2020, federal debt interest payments from the federal tax revenue now accounts for 9% to 20%. 2030 will increase to 36% by 2040 will reach 58%. Only the United States was entitled to print the world's leading reserve currency, "over-privileged," the United States have some breathing space. However, this privilege by the Chinese government increasingly fierce criticism.
In many commentators view, the Fed seems to start again led to the quantitative easing policy of the United States and China currency war. Obama in September in New York that if the "Chinese people do not take action," the end of the currency manipulation, "We have other means to protect U.S. interests." Chinese Premier Wen Jiabao immediately responded: "Do not participate in repression of RMB appreciation. China's export enterprises will be going bankrupt, workers will be unemployed,You are not allowed to view links. Register or Login, migrant workers will return home, the community is difficult to stabilize. China on the world economic crisis is not a good thing."