China Says Growth May Top 9 Pct This Year

[Rose Siding]

BEIJING (Reuters) - Chinese President Hu Jintao said Sunday economic growth could exceed nine percent this year and foreign direct investment could top $60 billion.
...
"Foreign trade volume for this year is expected to top $1.1 trillion. FDI is expected to top $60 billion this year."

China has set an 8 percent growth target for 2005 and aims to peg inflation at around 4 percent, illustrating its eagerness to steer the economy to a soft landing.

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=2&u=/nm/20041219/bs_nm/china_economy_dc

[whistle]

1. What is China's GNP/GDP....

...with foreign trade at $1.1 trillion that means that China's domestic economy must be at least twice that level if not higher or around $3.3 to $4.0 trillion. So that puts China someplace at around 10th to 8th large economy in the world. China has four times the population of the United States and with a growth rate of 8% annually for the next several years China could catch up to the U.S economically within the next 8 to 10 years.

[clapton]

2. There are already #2

Larger Imagine
//photos1.blogger.com/img/184/990/1024/Globalgdp.jpg

[cliss]

3. Thanks.

Welcome to the DU, Clapton!!:smoke:

:party: :toast:

That is a very scary image.....(for us, not them). It's what I call an exponential curve. When you see curves like this, something very immediate is always in store.

For the simple reason that it cannot sustain this kind of growth indefinitely. Either we will fold from the burden of our crappy balance of trade situation, or they will have to cut back on their growth.

[clapton]

5. Thanks for the Warm Welcome

I am glad to see that somebody else is wary of the return of the Dragon... at our own expense-- including the G7 ;-)

Check out my ramblings here,

• The China Price by Newsweek


• When the G7 Talks, Is Anyone Listening?


• Welcome to My Dream... My Nightmare


• Do You Think That the Downsizing of America will Impact the Godfather?


• Reasons for World Wars


• http://americafirst2004.blogspot.com/2004/08/china-syndrome-cbs-news-60-minutes.html">The China Syndrome - CBS News / 60 Minutes

All is well that ends well...
Clap

[DavidDvorkin]

4. Here's a good source for such numbers

It's compiled by the CIA. I don't think the Bush admin. has forced them to lie about economic numbers yet. I've seen this source quoted elsewhere, in foreign papers as I recall, so it seems to be respected:

http://www.odci.gov/cia/publications/factbook/index.html

This page on that site has GDPs by rank:

http://www.odci.gov/cia/publications/factbook/rankorder/2001rank.html