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And if you compare China to other countries over there, you know they can still go further... they've not yet started producing/exporting automobiles.
They've got an advantage over the US because they're actually producing something - a good portion of US GDP comes from Wall Street money games but really doesn't produce anything (nor does it circulate in the economy if it only gets reinvested). To compensate for a loss of manufacturing jobs we've now got semi- and unskilled workers wanting to make a living wage by flipping hamburgers and doing other jobs that used to be entry-level and summer work for high school kids.
But as long as US equity markets keep cranking up, nothing else really matters....right?
Or we are falling faster than we have been led to believe.
Good thing is, China has absorbed much of our business and manufacturing, so life goes on... In China.
Who cares? America is ranked 37 in World Education and still fluoridates and offers Monsanto chem lab mutated foods to its own people.
Ya, ok, China does produce more, goods, and services,, so what...
What we produce in America, is....... money.
We print it !
It's called ..... the shekel....
.
We back up the shekel with the power of the US Military.
.
And if the world will not take the shekel, in exchange for their goods, services, and submission, we cram the shekel down their throats, at the spear point of a predator drone, or a B1 bomber....
Seems China is more capitalist-friendly than the U.S. is nowadays .
I would also assume they are not 18 trillion dollars in debt,so we are in worse shape than being passed as the number 1 economy.