Beatrice M (paisleychick) wrote in balanceofpower,
Beatrice M

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China & US Economics

This article gives the best explanation of the economic situation between China & the US. And it's not upbeat, but it's not a prophesy either.
Even before this week's figures on China's explosive 9.1 percent growth in 2003, which many commentators thought actually understated the reality, the United Nations' annual economic report had identified the People's Republic of China as the locomotive for growth in Asia (with a nod to India), and added that the US with its 4 percent growth rate will do the same job for the industrialized world. But once again, the question must be asked - will these two Chinese and US engines run in the same direction indefinitely, or will they begin to diverge? Indeed, even more scarily, will they have a head-on collision and involve the world economy in the mother of all train-wrecks?
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