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China overtakes US as world’s largest economy




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China overtakes US as world’s largest economy
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RT America
Published on Dec 10, 2014

The Chinese economy just pushed past the US to become the world’s largest economy (at least according to purchasing power parity). Although long expected by many experts, the Asian powerhouse’s snatching of the top spot has taken some by surprise. Euro Pacific Capital President Peter Schiff speaks with RT’s Ben Swann on why the US is now number two.

Watch more of Peter Schiff's commentary at https://www.youtube.com/user/SchiffRe...

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Category
News & Politics

五星出东方利中国.
It is funny that when west media talking about Chinese factories, they only show photo of busy workers in assembling line of low level factory to fool their citizens. While their information is really out of date! They are only 20% of Chinese export now.  These journalists dare not report Chinese advanced magnificent electromechanical equipments and numerically-controlled machine industry which contribute 70% of Chinese export. They are real face Chinese economy level.
238
vintage stereo
the last 2000 years india and china were always the biggest economics, tanks toengland and their opium wars china had a long dip but now they are back and it's normal this big country will lead
212
Ripudaman Verma
I as an Indian feel happy with china being no 1 , proud moment for Asia 😊
155
Tiago Falcão
The only reason america was so prosperous in the 50's was because all european countries were buying everthing from USA cus their industries and infraestrature were destroyed by the WWII, while america was intact and untouched by the war. sorry for the engrish
116
Alan Garcia
when china becomes #1 at everything and ill will happen!!! USA will find an excuse to go to war with them lol because that's what Americans like to do.
113
五星出东方利中国.
It is funny that when west media talking about Chinese factories, they only show photo of busy workers in assembling line of low level factory to fool their citizens. While their information is really out of date! They are only 20% of Chinese export now.  These journalists dare not report Chinese advanced magnificent electromechanical equipments and numerically-controlled machine industry which contribute 70% of Chinese export. They are real face Chinese economy level.
61
Star Power
America is already finished.
133
A Public Forum for Discussion
I live in China. The middle class here is growing even faster than its being eradicated in the US. I know a lot of factory owners here and I am already seeing what Peter is talking about i.e a shift in focus toward supplying their own middle class with consumer goods rather than exporting it all
171
Wong Poh Chan
The reason China is rising is, it is focusing on developing itself and not spending her time meddling in other countries internal affairs, like what the U.S. is doing. China is playing catching up, whereas the U.S. is focusing on being the world's policeman. A huge chunk of the U.S. money is spent on defence. That is the reason the U.S. is heavily in debt. And to top it all, it has to borrow heavily from China, a nation the U.S. is trying to contain.
118
Superstanz
its funny because Chinese are beating USA at their own game
93
syed farhan
US going to be a failed state
44
Lysander Sponner
China you can do it !!
23
jimivaughan
Ron Paul said this awhile ago. And people laughed. smdh
29
The Conservative
And the funny thing is, china has enough military and nukes to defend itself and cripple America if needed. So a war is not an option for the US 😂
20
sam kinstone
China is richer than usa , but for americans this is not acceptable for them.
68
9ja Craziestwins
God bless China. US empire must fall. The people of America will be liberated
19
Khawja Zahid
Gooo chinaa❤❤
25
DUC
Lol so in other words, China isn't even trying but they're already number 1. Go to war again America, China will loan you another trillion dollars that you will mint out of thin air to pay them back. Glad to be part of a generation which will see the fall of most of the worlds most affluent so called "Superpowers"
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