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Well according to the article, my impression is that China will surpass the US economy by 2016, and replace the US as the worlds economic hegemony, or something like that.
While it's not a promising (but not entirely unsurprising) sign, I don't see anything inherently devastating about that. Article also says that the US surpassed England's economic dominance in 1890, and has remained so since. Just like it wasn't the end of the world for England in 1890, likewise it won't be the end of the world for the US in 2016.
I think the economy is a concern. I would just be more interested in improving things here than comparing ourselves (USA) to other countries.
The article has a lot of theoretical points, but I'm not convinced it presents any practical concerns. Most Americans probably just want the economy to improve, unemployment to reduce, maybe prevent the dollar's value from dropping (which I feel politicians and the fed have failed to address). Whether our GDP stats are up to par with China lacks practical value imo.
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