10 Ways America Is Losing Its Superpower Status to China
byJul 16th 2012 12:09PM
Prior to the financial crisis that rumbled outward from the United States and shook the global economy, the majority of people around the world viewed the U.S. as the planet's leading economic power, according to a survey conducted by the Pew Research Center in 2008. At the time, China -- despite decades of rapid expansion -- received only half as many nods at No. 1 as did the United States.
How times have changed.
The financial crisis and subsequent recession vastly altered those perceptions. No longer is the U.S. viewed as having a cloak of invincibility. According to 26,000 people interviewed from 21 separate countries by the Pew Research Center, the U.S. is no longer looked upon as the world's leading economic power -- the title now belongs to China.
China doesn't fit the mold of a traditional economic superpower. Many of its residents live below what many of us would consider the poverty line and its vast countryside is still dominated by an agrarian economy.
Still, China is quickly on the path to gaining just as much, if not greater, significance as the United States in regard to global economic health. You simply can't ignore China anymore -- not even if you wanted to -- and here are 10 reasons:
Motley Fool contributor Sean Williams (on Twitter @TMFUltraLong) has no material interest in any companies mentioned in this article. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold, Apple, and Google. Motley Fool newsletter services have recommended buying shares of Chevron, Apple, and Google, as well as creating a bull call spread position in Apple.