Monday, December 22, 2014

Now the world’s largest economy, China has its sights set on being largest banker

According to the IMF, China surpassed the United States as the world’s largest economy earlier this year.  However, the fact of the matter is that China has outpaced American output for quite a few years now, and the only reasons the U.S. remains in the upper tier of economic powers is due to their debt based economy that counts consumer and government spending as close to 80% of their annual GDP.
But even more than being the global leader in trade and production, China now has their sights set on an even bigger prize… that of becoming the world’s largest banker and the facilitator of exported capital to countries and businesses outside the homeland.


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