Sunday, June 16
Just wanted to bring this up again ‘cause I’ve thinking about it… Are you ready to cede your position as a member of the world’s most powerful economy—because it’s probably going to happen in our lifetime. Based on purchasing power parity, China’s GDP is second only to ours, and growing much more rapidly (8% vs. the U.S.’ 4-5%). Sure, they have some structural problems to work out, but we have growing internal problems that can handicap us (most significantly the growing rich-poor gap). Really, think about it—how is going to feel? Personally, I think the coming change will give our collective ego a reality check.