3. Background “When we first suggested back in 2003 that China could possibly challenge the US to be the world's number one by 2041, many thought it was a pipedream, and had virtually no chance. In fact, it is possible a lot sooner, and indeed, we now think it could happen within 20 years - in fact 2027 to be precise, so 18 years.” - Jim O-Neill, Chief Economist of Goldman Sachs (Statement made in 2009.)
4. Do you know? In 2009, Hillary Clinton humbly requested the Chinese to keep buying US Treasury Bills. Using deficit spending, US has been fighting the Afghanistan War with a Chinese credit card. There is an increasing gain of support for China, but a loss for America on debates on world issues. Fortune Top 10 List (2010)- 2 American companies but 3 Chinese firms. China’s development of new missile and anti-satellite technology threatens US’s supremacy in the Pacific.
5. Key Messages Time to wake up from the American Dream? Look at other emerging powers.
6. Rating of Article: 8.5/10 DISCUSSION What are your thoughts on China being the next rising star & US becoming a declining player? How will this shift of dominance impact countries globally?
7.
8. London Evening Standard. (2009, November 17). China will be world's biggest economy by 2027. Retrieved August 20, 2011, from London Evening Standard: http://www.thisislondon.co.uk/standard-business/article-23770626-china-will-be-the-worlds-biggest-economy-by-2027.do
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