Trump's policies could enable America's economy to outpace China'sFox News, Aug 19, 2018, Steven W. Mosher
The great engine of American capitalism is once again firing on all cylinders, as shown by the 4.1 percent annualized growth of America’s gross domestic product (GDP) in the second quarter of this year.
Most Americans (with the exception of Democrats in Congress) are celebrating the good economic news. There is quiet rejoicing in many European and Asian capitals as well, since their mostly sluggish economies will now be drawn along in America’s powerful wake.
But there is one capital where the American economic renaissance is definitely not welcome news. Consternation reigns in China, where President Xi Jinping is nervously watching his “China Dream†of dominating the United States go up in smoke.
You see, surprising though it may sound, America’s economy may now be growing at a faster clip than China’s. And this changes everything.
Until recently, the Chinese economic juggernaut seemed unstoppable. Once China joined the World Trade Organization in 2001, its GDP exploded. Unfettered access to American markets – combined with predatory trade practices – allowed China to grow an economy only one-tenth the size of America’s to one nearly two-thirds as large.
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