The International Monetary Fund has just dropped a bombshell, and nobody noticed.
Brett Arends, MarketWatch For the first time, the international
organization has set a date for the moment when the “Age of America”
will end and the U.S. economy will be overtaken by that of China.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will
surpass that of America in real terms in 2016 — just five years from
Put that in your calendar.
It provides a painful context for the budget wrangling taking place in
Washington right now. It raises enormous questions about what the
international security system is going to look like in just a handful of
years. And it casts a deepening cloud over both the U.S. dollar and the
giant Treasury market, which have been propped up for decades by their
privileged status as the liabilities of the world’s hegemonic power.
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