The popular chant at sporting events and the Olympics by U.S. fans usually means more than rooting for a winning team. The collective “we” ARE the team, man! Rock on!
It’s a bizarre voicing of world domination that has actually been accurate since WWII (or WWI, depending on who you talk to).
However, a new study suggests, we are really #2. China is #1 – by 20%. Bigger economy. Bigger projected growth. Etc.
(This study is in direct contradiction to a new IMF report that projects China will surpass the U.S. in 2016.)
China, though, is reluctant to strut around the world stage telling everybody else what to do. For now.
(On the other hand, they can, and do, ignore whomever they please: for instance, ignoring pleas to stop arming the government of Sudan.
The new study is here.
The lame IMF report that asserts China’s economy is 20% SMALLER than the US is here.
“It’s clear that the rise of China will lead to many changes around the world. Political leaders in the United States will no doubt catch up with the reality of the new U.S. position in the world – probably about the time that they accept global warming and evolution.” – Dean Baker
On a related subject, there is a call to re-jigger how economies are measured using more sustainable, planet-friendly measures, rather than unchecked development indicators (such as GDP).