From the Article:
For all the last few years have been grim economic times for America, the U.S. still ranks sixth out of 175 countries in average income. But Americans have already lost bragging rights as the world’s largest trading nation, and China may have overtaken the U.S. as world’s largest economy as well, according to former International Monetary Fund economist Arvind Subramanian. Even the more pessimistic of China-watchers appear to agree the U.S. will drop to second place by decade’s end at the latest. Will this doom the U.S. to a penurious future of lower average incomes, as it slowly sinks into the stagnant backwaters of the global economy?
No.
Read it here
