In 2016, China could very well be the #1 World Economy eclipsing the U.S. According to a new report from the IMF (International Monetary Fund), China will be the #1 economy in the world in five years. The IMF has released their official forecasts which show China as #1, and the US as #2 in 2016. But, one cannot be 100% sure when they are the prognosticator. Predictions often do not become true, and people tend to stick to the results when they happen. In a recent CBS Marketwatch internet article , the Chinese could also lose their control of the top ranking if their economy slows down.
In contrast, is America worried about this statistic? Most U.S. economists will remember that the U.S. overtook Great Britain in the 1890s to become the world's largest economy. Just last year, China was crowned as the world's 2nd largest company, ahead of Japan. Economists are worried, but the domestic population of America probably doesn't care two cents about it. This is RSG's true opinion. Most Americans are cosmopolitan, but the country needs to be financially cautious of their domestic problems (current budget crisis, housing recession, high unemployment, etc.) too.
Lastly, let's conclude with the Chinese currency. The Chinese Yuan will not be the #1 currency in five years, even though the economy may be the strongest. At this time, the US dollar & other currencies (British Pound, The Euro, etc.) are stronger. 1 U.S. dollar = 6.53 Chinese yuan, 1 dollar = .69 euros, and 1 dollar = .61 British pounds. In closing, the U.S. is a stronger currency than the Yuan. The British pound & the Euro are stronger currencies than the U.S. dollar. For more information on currencies, go to currency exchange's website . In closing, the currency is important but not to the Chinese population.
