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China surpasses U.S. to become largest world

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China surpasses U.S. to become largest world

1. China surpasses U.S. to become largest world economy
http://www.foxnews.com/world/2014/12/06/china-surpasses-us-to-become-largest-world-economy/

I don’t teach Government or Economics this year but I will next year so I will definitely use this article. Many students have a lot of curiosity about China and if they are going to “take us over” so I think this article would raise a lot of questions and we would be able to have a really good class discussion about US/China relations and geo-politics. I shared this article with a few colleagues who teach Government and they used it in their classes and they said that it created a lot of curiosity about China. “How did they do it?” “What are they doing differently?” “We better start learning Chinese so we can do business with them!” Those are some of the things that the students were saying in those classes. I can’t wait to have that discuss in my class!

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Message from zrichardson

Despite the currency monetary value and rate of exchange and by all accounts from various sources, China appears to be in the lead. According to recent stats, "The IMF recently released the latest numbers for the world economy, stating that China will produce $17.6 trillion in terms of goods and services-- compared with $17.4 trillion for the U.S." Granted there is a disparity in earnings-employment remuneration-between the Chinese and the US workers, but the sheer ratio in X numbers of Chinese workers to 1 US worker can easily even-out/compensate for the discrepancies on salaries, infrequent consumer habits and purchasing power, scarce vs. abundant resources for production and manufacturing of available goods. Few countries are willing to open their books and expose the true state of their internal economy and willingly reveal sensitive information regarding their true worth in the international arena of business and finance. Only time will tell, still learning to communicate in Chinese and learning the cultural protocols to do business with Chinese companies sounds like a good plan.