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COMMENTS:
That graph is of the US gdp by the way and If you look between aug and Nov that is what it is now over 13 trillion.
USR: You appear to premise your assumption on the beliefs that the US GDP will continue at the same or better rate and that the economic situations of countries are partitions of a fixed and non- increasable pie. I'd balk a bit at both of those assumptions.
However, I am of mixed thoughts on China's economy. It is far from homogeneously spread. If we think we have a wealth gap in the US, China has a much greater one -- urban vs rural.
Certain metropolitan areas (Shanghai, Beijing, etc.) easily surpass their US counterparts. However, most of China is not urban based and their is a lot of relative poverty in the country. At some point, that will have to be addressed or there will be repercussions.
Further, you seem to be comfortable using GDP as a measure of of national economy. As I continually chide thc2800, GDP is one measure -- it should not be used as a sole indicator of economic status/health.
BTW, let's revisit your optimism in the recession of 2007. 
Yes, I am making the call there will be a recession in 2007 and am putting my $ where my mouth is. I have moved my money out of equities, cashing in (and locking in) gains. IMO, this is about to become a 'suckers market' where the people who continue to pump cash in will be fueling the gains of the elite who are pulling their money out, and parking it for a while.
I plan to buy back in during the recession, thus leveraging my investments.
If you can go bonds rather than stocks, now is the time to do it, IMO.
" Certain metropolitan areas (Shanghai, Beijing, etc.) easily surpass their US counterparts"
You lost me there. What do you mean?
Around 2012 the whole world economy will take a severe hit. China will probably face a revolution by its people, and the poor nations of today will be poorer than ever. Now there's something you won't read in the Economist, the Wall Street Journal or any other financial publication. Right now its being called a control bottoming out. The G8 are working together to bring it down as slowly as possible. Once they let it fully bottom out, rich nations will take a big hit but the poor ones will be ruined. The reason is wages and production. Its sort of like a baloon that has gotten too full. A bottoming out is necessary to right things, like costs of producing goods (labor), housing costs, healthcare costs, etc, etc. Their plan is to then start from scratch.
With China and India industrializing rapidly, there could well be a competition for resources that would flatten world economic growth.
Never doubt human determination. It's one of the species' few plusses.
Voted : possible
If the U.S. continues on its present course of insane government indebtedness, the American economy will eventually collapse. The U.S. will simply meet China on its way down.
Ignoring that, however, I do think people worry too much about the Chinese growth rate.
cranky wha tthe hell are you talking aboutthe US debt looks huge but it isn't if you think about the size of the GDP. If you actually measure it intellegently Canada has a higher debt percenatge than the US.
Not to mention weather you believe it or not economists d oknow what they are doing. All it takes is one President to destroy the debt. Look at Reagan.
USRocks: How many times do I have to address this ... haven't you been following my roughing up of thc on this error?
Taking deficits as a percentage of GDP is completely meaningless. Do you know what GDP stands for? Would you like to explain to me how a measure of private business production offsets government spending?
Hint: It doesn't.
FF: What I was trying to refer to was the 'centers of commerce' in the respective nations. many Westerners think of peasants in straw hats, wading in rice paddies when they think of China. Unfortunately, that is still true in some areas. But in the major cities ... these suckers have grown HUGE and dwarf western cities in size. They are also larger in industry, commerce, and just about any business measure you can think of.
Voted : possible
I do not believe China will reach the same GDP per capita, but they will surpass us in total GDP. Comparing their human capita, culture and economic system to others, I believe their GDP per capita will stabilize close to half of ours.
Yes I kno wwhat gdp is. It is gross domestic product or roughly the size of the economy. the size of the economy is almost directly related to the revenues thus the budget of the nation. Look at Ronald Reagan he in just the span of one presidency destroyed the debt.
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