Its claimed that the US and China have the world's two largest economies-this is crap.THE US HAS A 5 TRILLION TRADE DEFICIT WITH CHINA AND HAS GONE FROM BEING THE WORLDS NUMBER ONE CREDITOR NATION TO NUMBER ONE DEBTOR NATION.
Germany exports slightly more -total value of goods then the US.
A few years back on paper Woolworths had a bigger economy than the 99p shops.
Because it had more outlets and sold more expensive items ie Playstation, DVDs & CDs . But the big differance was Woolworth was in debt and it could not even sell enough to just pay the interest and make a profit, while the 99p stores all traded at a profit.
Back in 2008 after the banking crisis i suggested checking the CIA web site whose famous world book provides economic rankings for nations , in ratio to exports .imports , private and public debt. www.cia.gov/library/publications/the-world-factbook/
At the top was China and Germany-whose products are in demand in Asia. Right at the bottom after every third world country you could think of, was the US and a few EU states ie Greece , Spain which have had more recent problems. The smart money knows the US is bust and is already making its contingancy plans. Also reason China is stockpilling gold. When they had all those homeowner loan ads on daytime TV it was a portant that something was wrong with the UK economy -all those buy gold ads are an omen that something is very wrong with the US economy.
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