....for the first time in almost a century and a half.
Behold, the triumph of Obamanomics, and our new ChiComm overlords:
There’s no easy way to say this, so I’ll just say it: We’re no longer #1. Today, we’re #2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.
….The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.
As recently as 2000, we produced nearly three times as much as the Chinese.
To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S. [emphasis added]
Whether that is more attributable to the ChiComms becoming more capitalist or Obamerikastan growing more communist, I leave to y'all. And, yes, it does have to be contextualized that Red China's GDP is spread over 4.25 times as many people, so on a per capita basis we're still much wealthier than the average Chinese slave. Which, upon reflection, is a depressing mark of distinction.
But the trend lines are rather obvious, are they not? And they're entirely in keeping with what Barack Obama once declared would be his chief legacy:
How can his presidency be declared, then, as anything but an unqualified success?
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