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China Is Now The World's Largest Economy

Discussion in 'BlackHat Lounge' started by The Scarlet Pimp, Dec 30, 2014.

  1. The Scarlet Pimp

    The Scarlet Pimp Senior Member

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    When the history of 2014 is written, it will take note of a large fact that has received little attention: 2014 was the last year in which the United States could claim to be the world's largest economic power.

    China enters 2015 in the top position, where it will likely remain for a very long time, if not forever.
    In doing so, it returns to the position it held through most of human history.

    Comparing the gross domestic product of different economies is very difficult. Technical committees come up with estimates, based on the best judgments possible, of what are called "purchasing-power parities," which enable the comparison of incomes in various countries.

    These shouldn't be taken as precise numbers, but they do provide a good basis for assessing the relative size of different economies. Early in 2014, the body that conducts these international assessments -- the World Bank's International Comparison Program -- came out with new numbers.

    (The complexity of the task is such that there have been only three reports in 20 years.)

    The latest assessment, released last spring, was more contentious and, in some ways, more momentous than those in previous years. It was more contentious precisely because it was more momentous: the new numbers showed that China would become the world's largest economy far sooner than anyone had expected -- it was on track to do so before the end of 2014.

    http://www.vanityfair.com/business/2015/01/china-worlds-largest-economy
     
  2. Air Bender

    Air Bender Newbie

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    Suer it is the best now, and truth be told, it could stay up there for a while.. if not forever as OP says.
     
  3. NoHeadBoyz

    NoHeadBoyz Newbie

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    China finally ranked first in economic keyword :D
     
  4. The Scarlet Pimp

    The Scarlet Pimp Senior Member

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    the issue now is how will this affect our business dealings, money-wise?
    (keep the political crap out of this!)

    i'm not currently doing any biz with china...
     
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  5. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    I have cleared the thread. You decide if it survives.
     
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  6. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I don't think there will be much affect, the average income in china is still pretty low. The fact that china is #1 region in economic power shouldn't even really be news since china does have the largest population and a very large urban population. Its still going to be a tier 4 or tier 5 for most IM purposes of monetization for a while.
     
    Last edited: Dec 30, 2014
  7. Brad100

    Brad100 Supreme Member

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    hmm, well everyone saw that coming. Must keep political shit out of here...
     
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  8. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    The SWIFT alternative that China is working on, probably wouldn't happen if it wasn't for their top status as worlds largest economy. Its going to allow persons to have bank accounts that will be unfreezable by western authorities. Its going to be great for blackhat businesses.
     
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  9. rabbitking

    rabbitking Elite Member

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    Less regulation, personal accountability, and just a ton more people. Who would have ever imagined.
     
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  10. Brad100

    Brad100 Supreme Member

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    Oh and now I think we all should start copying real life products and sell them for cheap prices, our personal economies might increase ;)
     
  11. wisdomkid

    wisdomkid Jr. VIP Jr. VIP

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    It's not surprising that they're now the economy power. They're virtually re-producing everything.
     
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  12. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I would say its mostly going from rural to urban

    [​IMG]
     
  13. Evehale

    Evehale Newbie

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    Well I agree to it too. not this early atleast
     
  14. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    China's desire to become #1 has some "life lessons" for IM. Even though storage space,processing power and internet speeds are expensive they are an important part of making money. One should always use a part of their income on upgrades and expansions.
     
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  15. Sythix

    Sythix Senior Member

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    *Looks around*

    *Can't find a single item that doesn't say "Made In China"*

    Yep.
     
  16. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    With 3D printing manufacturing is going to become more localized, so it could have a big impact on whether China stays at #1 or drops a spot or 2. But it won't happen until Chinese workers,transportation and the tariff(s) cost more than mass produced 3D printing.
     
  17. Sythix

    Sythix Senior Member

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    3D printing is going to be a huge market in the near future. I already had the idea of buying some domains for it.. but it appears others have beat me to the punch. Either way.. this is going to be a huge market to monetize. Just you wait.
     
  18. rob1977

    rob1977 Power Member

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    It is interesting how this has happened as it has seen a complete 180 in terms of China's global strategy.

    China has philosophically seen the rest of the world as incidental to their existence and rise. They view all other nations as subservient to them, and if they must be acknowledged, then merely as a "service sector"

    Economically however they have risen to their desired position by becoming a global service sector. Which is what strong economies must do, but struggle due to costs. Export more than you import and you will win.

    The kicker, and irony, for China is its new found role as nuclear power investor extraordinaire
     
  19. Timothy7

    Timothy7 Junior Member

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    I just got TB's FREE online storage space on Baidu.
     
  20. timothywcrane

    timothywcrane Power Member

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    The gov't is working pretty hard to make sure that Baidu it replaces Google it, at least for the largest population sector in the world. The company itself has gone a long way to try to re-capture some of the organic search market by limiting ads and has even tried lately to improve some of the misconceptions people have held toward its in dealing with copyright issues, with a little prompting from the record company conglomerates in the West.

    While RenRen is still no FB, it is steadily growing and becoming the standard SM platform for those without VPN access.

    It is hard to not speak on politics, as there is strong gov't control over both, but what can we say (here in the US) with a subsidized corn market and a previous monopoly on car production through military destruction of previous up and comers in WWII. Its six in one hand and a half dozen in the other.

    I am just praying that the NSA continues to have problems with PGP for a little while longer.