Breakfast with Black Spot

I wonder if Black Spot chats with Dear Leader about this some mornings:

China, Japan, and the United States are the three most productive economies on Earth, but China is the fastest growing (at an average rate of 9.5% per annum for over two decades), whereas both the U.S. and Japan are saddled with huge and mounting debts and, in the case of Japan, stagnant growth rates. China is today the world's sixth largest economy (the U.S. and Japan being first and second) and our third largest trading partner after Canada and Mexico. According to CIA statisticians in their Factbook 2003, China is actually already the second-largest economy on Earth measured on a purchasing power parity basis -- that is, in terms of what China actually produces rather than prices and exchange rates. The CIA calculates the United States' gross domestic product (GDP) -- the total value of all goods and services produced within a country -- for 2003 as $10.4 trillion and China's $5.7 trillion.

China's trade volume for 2004 was $1.2 trillion, third in the world after the U.S. and Germany, and well ahead of Japan's $1.07 trillion...

The truly significant trade development of 2004 was the EU's emergence as China's biggest economic partner, suggesting the possibility of a Sino-European cooperative bloc confronting a less vital Japanese-American one...

...The CIA's National Intelligence Council forecasts that China's GDP will equal Britain's in 2005, Germany's in 2009, Japan's in 2017, and the U.S.'s in 2042. But Shahid Javed Burki, former vice president of the World Bank's China Department and a former finance minister of Pakistan, predicts that by 2025 China will probably have a GDP of $25 trillion in terms of purchasing power parity and will have become the world's largest economy followed by the United States at $20 trillion and India at about $13 trillion -- and Burki's analysis is based on a conservative prediction of a 6% Chinese growth rate sustained over the next two decades...

...The Bush administration is unwisely threatening China by urging Japan to rearm and by promising Taiwan that, should China use force to prevent a Taiwanese declaration of independence, the U.S. will go to war on its behalf. It is hard to imagine more shortsighted, irresponsible policies, but in light of the Bush administration's Alice-in-Wonderland war in Iraq, the acute anti-Americanism it has generated globally, and the politicization of America's intelligence services, it seems possible that the U.S. and Japan might actually precipitate a war with China over Taiwan..."

No, too many big words for Dear Leader.

Black Spot is nothing if not Respectful for the Leader of the Free World.


Thanks to Truthout for the link.