Geee Posted April 25, 2011 Share Posted April 25, 2011 Wall Street Journal:BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.IMF sees China topping U.S. in 2016According to the latest IMF official forecasts, China's economy will surpass that of America in real terms in 2016 — just five years from now. Brett Arends looks at the implications for the U.S. dollar and the Treasury market.And it’s a lot closer than you may think.According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.Put that in your calendar.It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.According to the IMF forecast, whomever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes, and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s. Link to comment Share on other sites More sharing options...
Valin Posted April 25, 2011 Share Posted April 25, 2011 IMF bombshell: Age of America nears end Or not. Link to comment Share on other sites More sharing options...
Valin Posted April 25, 2011 Share Posted April 25, 2011 IMF bombshell: Age of America nears end Or not. OTOH Power Line: Sleepwalking Toward Disaster Link to comment Share on other sites More sharing options...
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