THERE’S CHINA AND THERE’S THE REST OF THE WORLD

The economies of Spain, Canada, Britain, France, Russia, Mexico and Italy should be in the toilet by now, according to the 1994 World Bank "Weltanschauung". On the other hand, China, South Korea, Taiwan, Thailand, Indonesia and India should have grown by 100% to 250% in the last three decades. No argument with the latter postulate. But we took issue with the former and offered our own 25-year forecast in a short editorial "End of Western Dominance?" A major flaw in World Bank's logic is the assumption that the leading economies of the 21st century will be industrial.  They will not. The industrialists of the 21st century will be the farmers of the 20th century!  (i.e., low on the food chain). The economies of the 21st century will be an information-driven mixture of arts and sciences. And smaller economies will outperform the largest ones. As can be seen from these New Year's light and laser shows, the computer technology and the internet have not only "empowered the individuals and small companies to compete with giant enterprises on a level playing field," as we predicted earlier, they have also enabled small countries to compete globally on a fairer basis.

CHINA, NOT RUSSIA OR IRAN – BIGGEST THREAT TO U.S. DOMINANCE, CIA CHIEF

Yet China's Rise to Power Was "Made in the USA" In his first public address since taking office in January, CIA Director Mike Pompeo, said he sees China rather than Russia or Iran as the biggest threat to America’s dominant position in the world. Speaking at the Washington Free Beacon conservative "think tank," Pompeo said …

HIGH COST OF CHEAP IMPORTS

A MORAL DILEMMA: TO BUY OR NOT TO BUY? SHOPPERS OF CHEAP IMPORTS HAVE BLOOD ON THEIR HANDS: AIR POLLUTION KILLS 4,400 EVERY DAY IN CHINA PARADOXIC FLIP SIDE OF FREE TRADE DEALS: SAVING AMERICAN LIVES BY EXPORTING DEADLY INDUSTRIES OVERSEAS One of the most popular sports in American politics is hurling rocks at business leaders and politicians …

CHINA HAS ALREADY SURPASSED U.S. AS WORLD’S BIGGEST ECONOMY

PERILS OF LONG-TERM ECONOMIC FORECASTS: THEY ARE STATIC, UNABLE TO ANTICIPATE TRENDS THAT WILL DISRUPT THEM Luckily for Economists, Nobody Remembers Long-term Trends after 20 Years... Well, Almost Nobody Back in 1994, The Economist and the World Bank issued a 25-year forecast for the world's leading economies. This led to a special report, "Indo-China" to Gain …

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