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Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(09/01/10) Prestowitz a contributor to FutureofUSChinaTrade.com

China's Economy Now Second Only To U.S.: What Does the Future Hold?

On August 16 the Japanese Cabinet Office announced that Japan's second-quarter GDP was for the first time smaller than China's. A media frenzy ensued, proclaiming China's economy larger than Japan's (and second only to that of the United States). Analysis firms raced to predict when China would surpass the U.S. -- PricewaterhouseCoopers pegs 2020; Goldman Sachs claims 2027.

As a practical matter, China's GDP is less than 60 percent that of the United States. And because China's population is four times larger, even if its GDP equaled the United States', its per capita GDP -- a proxy for living standards -- would still be one-fourth America's.

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The Betrayal of American Prosperity.


The Trans-Paific Partnership and Japan.


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