Tuesday, April 6, 2010

China Vs. USA

A visual representation of China's Economy vs. the US Economy. This is pretty self-explanatory, however it really helps to actually see the actual bar graphs in direct comparison. The website is here. It makes me wonder if the US will fall behind and the world economy and if so, when?
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4 comments:

  1. tcmtApril 6, 2010 at 1:38 PM

    This is really interesting stuff. To me the most interesting is the agriculture/industry/service chart. I do see the US moving to a service based economy at least for our export markets like many of the western European economies have already done. In terms of China "surpassing" us though I think they will need to do away with their structural rigidity and governmental regulation of private citizens before the nations will truly make the leap from "third world" to "first world," that or win a war which is sadly how the United States essentially did it.

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  2. Noah OesterleApril 6, 2010 at 2:44 PM

    Rapid growth can only be forced for a certain amount of time. I think about the Soviet Union under Stalin and the rapid industrialization and growth that occurred. When it comes time for the economy to sustain itself without the hand of the government, it could begin to struggle.

    I also agree with Tommy that removing the government stranglehold on private citizens will be important because it is the people who stimulate the economy. Consumerism is important.

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  3. Ashlee SteudleApril 6, 2010 at 3:23 PM

    It is projected by some economists that China will leap ahead of the US around 2016. We talked about this possibility in Macro and specifically looked at Gapminder to demonstrate this potential. (India is projected to move in a similar pattern.)

    Additionally, I agree that the government has played a large role in China's current place behind the US and the lack of investment in their citizens and infrastructure has limited their current economic placement.

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  4. BryanApril 8, 2010 at 9:22 AM

    It is interesting that the government regulation is so high in China yet their expenditures and revenue is much lower than the U.S. However, I agree with Tommy and Noah that consumerism is important and private citizens will need to have more freedom. The great thing about the U.S. is that we always seem to find a way to specialize in some market and with our innovative character I think we will make up for our recession with a forceful push in an industry. I don't think China forging ahead as an economic leader is a bad thing at all. I think we could become more invested in their country. However, there are areas that China needs to work on one being the environment. Their policies are weak, they face water shortage and cleanliness issues, their population growth could deem a problem, their greenhouse gas emissions are ever-rising, and they have far too many powerplants located near large cities. Even though they cleaned up for Beijing, they have much work to do here

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