GDP growth rate map....insteresting find

[Pabst]

Annual GDP Growth Rate | Data Finder

just hover any country and it tells you its most currently known GDP growth rate.

i want everyone to look every where the highest %'s are and i want you to ponder some questions.

with this delightful worldwide economic bust not long ago. how is it most of the world has a higher % than we do? sometimes by large margins. look at the countries we do business with, that is the countries that make the products we buy that we use to make ourselves when we had a higher GDP growth rate. do we want to continue to buy products from countries that are getting richer than we are? at least some fair tariffs would be nice but we know with china owning some of our debt that isnt gonna happen. what do you think the trends will be for the countries with the highest GDP growth rates compared to the US?

this isnt a political issue, its just a straight GDP discussion as things besides politics can effect GDP. so please try not to make this purely political.

 

[kelvin070]

This answers your main question - Globalization and Free Trade is the name of the game today.

 

[JanieDough]

I learned in my Econ class (Which means it could be wrong and way more complicated than this) that the more regulations you have interfering in free trade and society - like Social Security, Welfare, etc.

The worse your economy is going to because 1 - people don't save as much so the money supply is low and 2 - free trade just encourages more trade.


So places like China who are getting a bit freer with their government - their GDP is increasing, and places like the US - our GDP is decreasing because we are increasing the amount of our regulation.

 

[imayoda]

It's called the "catchup effect."

That is to say, it's easier to go from the stone age to today's standard of living (India, China etc), than to improve upon it (U.S., Western Europe).

And without question do we want to continue to do business with countries like China for manufactured consumer goods. Our competitive advantage lies in military hardware and financial and tech services, i.e., theory of comparative advantage.

 

[kelvin070]

Annual GDP Growth Rate | Data Finder

just hover any country and it tells you its most currently known GDP growth rate.

i want everyone to look every where the highest %'s are and i want you to ponder some questions.

with this delightful worldwide economic bust not long ago. how is it most of the world has a higher % than we do? sometimes by large margins. look at the countries we do business with, that is the countries that make the products we buy that we use to make ourselves when we had a higher GDP growth rate. do we want to continue to buy products from countries that are getting richer than we are? at least some fair tariffs would be nice but we know with china owning some of our debt that isnt gonna happen. what do you think the trends will be for the countries with the highest GDP growth rates compared to the US?

this isnt a political issue, its just a straight GDP discussion as things besides politics can effect GDP. so please try not to make this purely political.

I learned in my Econ class (Which means it could be wrong and way more complicated than this) that the more regulations you have interfering in free trade and society - like Social Security, Welfare, etc.

The worse your economy is going to because 1 - people don't save as much so the money supply is low and 2 - free trade just encourages more trade.


So places like China who are getting a bit freer with their government - their GDP is increasing, and places like the US - our GDP is decreasing because we are increasing the amount of our regulation.[/QUOTE]
When you make comparisons of GDP growth of countries in absolute figures they do not convey any meaning at all. The right way to compare is the GDP per capita of countries. You can make the GDP per capita comparisons from this site.
List of countries by GDP (PPP) per capita - Wikipedia, the free encyclopedia

 

[kelvin070]

It's called the "catchup effect."

That is to say, it's easier to go from the stone age to today's standard of living (India, China etc), than to improve upon it (U.S., Western Europe).

And without question do we want to continue to do business with countries like China for manufactured consumer goods. Our competitive advantage lies in military hardware and financial and tech services, i.e., theory of comparative advantage.

Agree with you. That goes for anything. Far difficult to maintain superpower status and its easier for China to catch up.

 

[Pabst]

It's called the "catchup effect."

That is to say, it's easier to go from the stone age to today's standard of living (India, China etc), than to improve upon it (U.S., Western Europe).

And without question do we want to continue to do business with countries like China for manufactured consumer goods. Our competitive advantage lies in military hardware and financial and tech services, i.e., theory of comparative advantage.

im fully aware of this and that was my point. they're catching up to countries like the US in terms of technology and ability to compete in the global business market. and given how we are sending our business overseas and the same countries we send our business to and looking at their GDP and looking at ours i cant help but wonder if we're doing something incredibly wrong here. i thought the point in doing business was to profit from it. what are we as a people and a nation gaining from this? nothing. just less money in our pockets and more in someone elses. in a power vacuum, there will be a power grab, in an economic vacuum, there with be a grab for profits. if we dont make the money someone else will. not sure why we're ok with other countries owning our debt and bending us over a barrel in the trades we do with them. yeah i know, more people have the war on terror/iraq war on their minds than this but this is important too and its being ignored by almost everyone.