Remember Die Hard and Don’t Panic over the Chinese Economy!

The Chinese economy will overtake the U.S in less than 15 years, say the same people who didn’t see the 2008 financial crisis coming.

The setting of the 1988 Christmas movie Die Hard should tell us something about current predictions regarding the Chinese economy.

Back when that movie came out, everyone thought the Japanese economy was the “Asian miracle” that would dominate the United States. People held it up as a model for us to emulate and an enemy to be protected from.

take our poll - story continues below

What is your top alternative to Facebook? - FIXED

  • What is your top alternative to Facebook?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Eagle Rising updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Trending: British Muslims say Keep Your Dogs AWAY!

But it was just a bubble. When it burst, Japan collapsed into a ghost economy that is still dragging it down a generation later.

So, don’t take predictions about Chinese growth too seriously. If they’re right somehow, it will be a lucky guess.

The Daily Mail reports, “China will overtake the US economy in 15 YEARS and India will leapfrog the UK and France in 2018, global report says.

China is likely to overtake the United States as the world’s No.1 economy in 2032, and India will be leaping ahead of both the UK and France by the end of next year, a new report shows.

The Centre for Economics and Business Research (CEBR) consultancy’s annual World Economic League Table put India in fifth place, before France in sixth and the UK in seventh in 2018.

However, come 2032, India will be in number three, Japan in number four, Germany in fifth and Brazil in sixth.

Previous reports had shown that China would take the top spot by 2031, but the predicted negative impact on the U.S. economy of President Trump has been ‘less severe’ than expected, CEBR said.

Read the entire Daily Mail article.

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com


About the author

Joe Scudder

Joe Scudder

Joe Scudder is the "nom de plume" (or "nom de guerre") of a fifty-ish-year-old writer and stroke survivor. He lives in St Louis with his wife and still-at-home children. He has been a freelance writer and occasional political activist since the early nineties. He describes his politics as Tolkienesque.

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

Send this to a friend