I also don't agree with CNN report, its more of a routine US rhetoric (they failed to persuade chinese on currency issues and are frustated, it seems)-
Chinese are marching ahead, it seems (I may or may not like personally thats another issue :P)
In the 20 years since 1990, the United States’ share of the world’s gross domestic product has shrunk from about 25 percent to 20 percent, and the figures were similar for Europe.
In the same period, Asia’s share of global GDP had risen from 25 percent to about 33 percent, led by China, whose current 13 percent is rising and likely to surpass Europe within five years and approach the U.S. chunk within a decade.
Asia’s share of the world’s financial assets is also growing, again led by China, where economic growth has helped make China the world’s largest saver, with an estimated $3.2 trillion in deposits, and its largest investor, with an estimated $2.9 trillion gross investment in 2010.
I also don't agree with CNN report, its more of a routine US rhetoric (they failed to persuade chinese on currency issues and are frustated, it seems)-
Chinese are marching ahead, it seems (I may or may not like personally thats another issue :P)
exerpts from http://www.thehindu.com/business/article1695982.ece
In the 20 years since 1990, the United States’ share of the world’s gross domestic product has shrunk from about 25 percent to 20 percent, and the figures were similar for Europe.
In the same period, Asia’s share of global GDP had risen from 25 percent to about 33 percent, led by China, whose current 13 percent is rising and likely to surpass Europe within five years and approach the U.S. chunk within a decade.
Asia’s share of the world’s financial assets is also growing, again led by China, where economic growth has helped make China the world’s largest saver, with an estimated $3.2 trillion in deposits, and its largest investor, with an estimated $2.9 trillion gross investment in 2010.