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40 Ways That China Is Beating America
Michael Snyder, Contributor
China is wiping the floor with the United States on the global economic stage, and most Americans are so clueless that they have absolutely no idea what is happening. The number one global economic superpower is in an advanced state of decline, and the number two global economic superpower is becoming stronger with each passing day. Unless something truly dramatic happens, it is only a matter of time before China overtakes America and become the dominant economic force on the planet.
In fact, China is already exercising economic superiority over the United States in a whole host of ways. China produces more goods than we do, China does more total trade in goods with the rest of the world than we do, China produces more cars than we do, China produces more gold than we do, China consumes more energy than we do, China produces more coal than we do and China produces more steel than we do. Every single year, we buy far more from them than they buy from us, and this has made them exceedingly wealthy.
Our politicians regularly make trips over to China to beg them to lend us back some of the money that they have taken from us. Today, we owe China more than a trillion dollars and the Chinese are sitting on the biggest pile of foreign currency reserves that the world has ever seen.
All of this wealth has fundamentally transformed the nation of China over the past couple of decades. Just check out the startling photographs of China from space in this article that show how China dramatically changed between 1992 and 2010. As China continues to become stronger and as America continues to become weaker, will our children some day wake up in a world where the Chinese are telling them what to do?
China became the number one exporter of goods back in 2009, but now China has reached another milestone on the road to global economic dominance.
When you total up all exports of goods and all imports of goods, China now conducts more total trade in goods with the rest of the globe than the United States does.
China’s emerging role as the dominant player in global trade is shaking things up all over the planet. The following is a brief excerpt from a recent Bloomberg article…
China’s growing influence in global commerce threatens to disrupt regional trading blocs as it becomes the most important commercial partner for some countries. Germany may export twice as much to China by the end of the decade as it does to France, estimated Goldman Sachs Group Inc.’s Jim O’Neill.
‘For so many countries around the world, China is becoming rapidly the most important bilateral trade partner,’ O’Neill, chairman of Goldman Sachs’s asset management division and the economist who bound Brazil to Russia, India and China to form the BRIC investing strategy, said in a telephone interview. ‘At this kind of pace by the end of the decade many European countries will be doing more individual trade with China than with bilateral partners in Europe.’
If current trends continue, what will the world look like in 10 years?
Will the Chinese dominate the entire global economy?
What would that mean for America?
Sadly, Chinese dominance is already having very serious negative consequences in this country.
The following are 40 ways that China is beating America…
#1 As I mentioned above, when you total up all imports and exports of goods, China is now the number one trading nation on the entire planet.
#2 During 2012, we sold about 110 billion dollars worth of stuff to the Chinese, but they sold about 425 billion dollarsworth of stuff to us. That was the largest trade deficit that one nation has had with another nation in the history of the world.
#3 Overall, the U.S. has run a trade deficit with China over the past decade that comes to more than 2.3 trillion dollars.
#4 China now has the largest new car market in the entire world.
#5 China has more foreign currency reserves than anyone else on the planet.
#6 China is the number one gold producer in the world.
#7 China is also the number one gold importer in the world.
#8 The uniforms for the U.S. Olympic team were made in China.