From the Article:
Already, China is the world’s top trading nation , edging the United States in total imports and exports in 2012. And Arvind Subramanian, an economist formerly with the International Monetary Fund, predicts that by 2030 the world will have four major economic players: China will be the heavyweight, followed by the United States and European Union, with economies about half as large, and then India close behind.
Time to panic? A recent Chicago Council survey found that only 9 percent of Americans believe that Chinese growth will mostly benefit the United States, while 40 percent think it will be mostly negative for us. And a 2012 YouGov surveysuggests that about half of Americans would prefer to see the United States stay on top, even with anemic economic growth, rather than grow rapidly but be overtaken by China. You only need recall President Obama and Mitt Romney sparring over who would be tougher on China to see how Washington channels this popular angst.
Certainly, China’s growth poses some challenges — but the opportunities it offers far outweigh them. And no matter the hand-wringing, losing the title of largest economy doesn’t really matter much to Americans’ quality of life.
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