#2 According to the IMF, China will pass the United States and will become the largest economy in the world in 2016.

40 Signs The Chinese Economy Is Beating The Living Daylights Out Of The U.S. Economy

The following are 40 signs that the Chinese economy is beating the living daylights out of the U.S. economy....

#1 The Chinese economy has grown 7 times faster than the U.S. economy has over the past decade.

#2 According to the IMF, China will pass the United States and will become the largest economy in the world in 2016.

#3 According to one prominent economist, the Chinese economy already has roughly the same amount of purchasing power as the U.S. economy does.

#4 At the turn of this century the United States accounted for well over 20 percent of global GDP and China accounted for significantly less than 10 percent of global GDP. But since that time America's share of global GDP has been steadily declining and China's share has been steadily rising.

#5 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

#6 According to Stanford University economics professor Ed Lazear, if the U.S. economy and the Chinese economy continue to grow at current rates, the average Chinese citizen will be wealthier than the average American citizen in just 30 years.

#7 During 2010, we spent $365 billion on goods and services from China while they only spent $92 billion on goods and services from us.

#8 Since 2005, Americans have gobbled up Chinese products and services totaling $1.1 trillion, but the Chinese have only spent $272 billion on American goods and services.

#9 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001, and the U.S. trade deficit with China is now 27 times larger than it was back in 1990.

#10 Back in 1985, the U.S. trade deficit with China was 6 million dollars for the entire year. For the month of April 2011 alone, the U.S. trade deficit with China was 18.8 billion dollars.

#11 Since China entered the WTO in 2001, the U.S. trade deficit with China has grown by an average of 18% per year.

#12 According to a recent report from the Economic Policy Institute, between 2001 and 2008 the U.S. lost approximately 2.4 million jobs due to the growing trade deficit with China. Every single state in America experienced a net job loss due to our trade deficit with China during this time period.

#13 The United States had been the leading consumer of energy on the globe for about 100 years, but last summer China took over the number one spot.

#14 China produced 19.8 percent of all the goods consumed in the world last year. The United States only produced 19.4 percent.

#15 China now consumes 53 percent of the world's cement.

#16 Last year, China produced 11 times as much steel as the United States did.

#17 Since China joined the WTO, approximately 46,000 factories have been transferred from the United States to Asia.

#18 China now has the world’s fastest train and the world’s largest high-speed rail network.

#19 Is alternative energy the future? If so, the Chinese economy is positioned well. China is now the number one producer in the world of wind and solar power.

#20 Chinese solar panel production was about 50 times larger in 2010 than it was in 2005.

See the whole list:
http://endoftheamericandream.com/archives/40-signs-the-chinese-economy-is-beating-the-living-daylights-out-of-the-u-s-economy