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Originally Posted by 2010-1SS-IBM
Well then it's even dumber to ignore the biggest economy on the planet.
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Yes, that sure would be dumb if anyone was actually doing it.
Quote:
Originally Posted by Lou_Dorchen
At the rate their economy is growing while ours is stagnating/shrinking, it won't be long before we will be the second largest economy in the world.
FYI, even Cuba's GDP is also growing at a faster rate than ours is right now.
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This shouldn't be a surprise to anyone with a basic understanding of the GDP function. GDP is inherently biased toward states with increasing debt and decreasing assets as well as explosive population growth, so GNI and PPP (and nominal
per-capita GDP) should really be of greater concern. It is impossible to maintain the level of growth we have seen in the past and some developing countries enjoy today.
If anyone would like to have a real discussion of global oil trade and US policy regarding oil and other fossil fuels I would happily do so in PM. Unfortunately all oil trade is political by nature and a real in depth explanation of most US policy would violate a ton of Camaro5 rules. The one thing I can say is that, in general, most US oil policy restricting use of oil/gasoline in any way has been passed with the intention of reducing oil dependency to dampen future supply issues from OPEC/OAPEC.