A Quote by Stephen F. Hayes
There's no easy way to say this, so I'??ll just say it: We're no longer No. 1. Today, we're No. 2. Yes, it's official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.
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If the IMF is correct (a big if), China will be the planet's No.1 economy by 2016. That means whoever's elected in November next year will be the last president of the United States to preside over the world's dominant economic power.
Today it's fashionable to talk about the New Economy, or the Information Economy, or the Knowledge Economy. But when I think about the imperatives of this market, I view today's economy as the Value Economy. Adding value has become more than just a sound business principle; it is both the common denominator and the competitive edge.
The cry of "Make America Great Again" reflects accurately that, after the fall of the Soviet Union, the sole superpower status of the United States is coming to an end. For the first time since the second World War, we are not the sole dominant economy in the world. In large part this is because of the success of policies followed by the United States to create an environment, a peaceful period in history in which economies could grow and countries could benefit.
The diminishing economic role of the United States in the global economy means that global political power will also become more dispersed. The world will become multipolar. By clumsily re-asserting a wish for U.S. dominance, Donald Trump is accelerating the opposite.
In pursuing economic growth, India and the United States share similar values and similar challenges. We understand that the global economy is here to stay. To keep growing and leading the world in innovation and opportunity, the United States and India must trade freely, openly, and according to the principles of the global marketplace.
When the strongest nation in the world can be tied up for years in a war with no end in sight, when the richest nation in the world can't manage its own economy, when the nation with the greatest tradition of the rule of law is plagued by unprecedented lawlessness, and when the President of the United States cannot travel abroad or to any major city at home without fear of a hostile demonstration - then it's time for new leadership for the United States of America.
President Roosevelt's leadership put the world on notice that the United States of America - with the freest, most dynamic economy the world had ever seen - was open for business.
Mexico now has the 13th largest economy in the world. The Organization for Economic Cooperation and Development predicts it will have a larger economy than Germany by 2042.
We enriched foreign countries at the expense of our own country, the great United States of America. But those days are over. I'm not - and I don't want to be - the president of the world. I'm the president of the United States. And from now on, it's going to be America First.
Our country, the United States of America, may be the world's largest economy and the world's only superpower, but we stretch ourselves dangerously thin by taking on commitments like Iraq with only a motley band of allies to share the burden.
If the Chinese economy can be opened so that currencies are convertible, Chinese tourists can take money and go see the world. Chinese businessmen can go and buy property in the U.S. and France and every place. All of a sudden, it's just going to be a blossoming global economy. I think it's going to be good for everybody.
So in terms of the global economic footprint, let's just say China within the next decade and a bit is likely to emerge as the world's largest economy. Obviously its foreign policy and security policy footprint increases and that creates both challenges and opportunities for us all.
In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.
The money economy thus leaves a large ecological footprint, defined as the amount of land and resources required to meet a typical consumer's needs. For example, with only about 4% of the world's population, the United States, the largest money economy, consumes in excess of one-quarter of the world's energy and materials and generates in excess of 25 percent of the world's greenhouse gas emissions.
Barack Obama didn't say "I only want to be the President of Black people," he said "I want to be the President of the United States and have something to say about the United States and my perspective and my lens is going to affect my judgment on everything" and that's the way a Christian should be. I'm going to invade culture and my lens and perspective is going to influence culture just as much as anyone else's.
Today there are a lot places where people say they're just hopeless. If I can come from a hopeless country, get an education, become a hyphenated American and become president of the World Bank, it's my moral duty to make sure that every single person on the planet has that opportunity.
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