IT'S OFFICIAL: WE ARE NOW IN THE EURASIAN CENTURY!!!

It's official, we are already in the Eurasian Century. With the release of the latest GDP ranking for purchasing power parity by the IMF, China is officially recognized as the world's biggest economy. Much of the power of America in its previous hegemony was based on hype ( outright distortion and lies spun by its shadow operators, to the extent even our history books were falsified to suit their narrative, and the now discredited propaganda media, which nobody respects anymore) . All those pretensions suddenly became ridiculous now when ranged against the new realities. One needs no earthshaking, much less violent, epiphany to distill a soul-changing realization. For me, I began to tire of Western pretensions LONG AGO even before the imperialist politics which really became blatant later on because of the simple Western overexposure in our lives. It was simply getting banal, especially when they tried to be forcibly "IN" through inane "TRENDS" disseminated via Western POP CULTURE AND fascistic politics which they hypocritically label as "liberal".

In Pinoy slang, "gasgas" na, which became unbearable when you started realizing they were actually already just faking the "superiority" (or "exceptionalism", if you may) .

 Now, it's official, the former top honcho is now dislodged, and its also official, they will really be only faking it from now on.

 It's obvious, the "oligarchs" who hijacked the real democratic America will not go down easily, what with the pitchforks of the suffering Americans waiting for them, but that will only make them more ridiculous, thus unbearable. People, especially Asians, are not kind on "plastics"- people who pretend they are bigger than what they really are. In fact, these types are despised. Or worse, laughed at.

But it will be a joyous day when the old Western elite, pretending to "civilize" the world while they extort it through wars and other Mafia tactics, will finally be given their comeuppance. The next big question is, can we build a new Eurasian Century without exacting justice from these criminal charlatans?

 ( BTW, I will start recasting this blog as the first online site to look at the world from the viewpoint of the new OFFICIAL Eurasian Century. If I have time to create more content, it will have its own separate website. It has a chance, I'm inspired by the fast events).

www.marketwatch.com/story/its-official-america-is-now-no-2-2014-12-04

Chinese economy overtakes the U.S.’s to become the largest

By

BrettArends

Hang on to your hats, America.
And throw away that big, fat styrofoam finger while you’re about it.
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.
It just happened — and almost nobody noticed.
The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.
As recently as 2000, we produced nearly three times as much as the Chinese.
To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S.
This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade.
I reported on this looming development over two years ago, but the moment came sooner than I or anyone else had predicted. China’s recent decision to bring gross domestic product calculations in line with international standards has revealed activity that had previously gone uncounted.

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These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be going on among foreign-exchange traders.

Make no mistake. This is a geopolitical earthquake with a high reading on the Richter scale.

PPP is the real way of comparing economies. It is one reported by the IMF and was, for example, the one used by McKinsey & Co. consultants back in the 1990s when they undertook a study of economic productivity on behalf of the British government.
Yes, when you look at mere international exchange rates, the U.S. economy remains bigger than that of China, allegedly by almost 70%. But such measures, although they are widely followed, are largely meaningless. Does the U.S. economy really shrink if the dollar falls 10% on international currency markets? Does the recent plunge in the yen mean the Japanese economy is vanishing before our eyes?
Back in 2012, when I first reported on these figures, the IMF tried to challenge the importance of PPP. I was not surprised. It is not in anyone’s interest at the IMF that people in the Western world start focusing too much on the sheer extent of China’s power. But the PPP data come from the IMF, not from me. And it is noteworthy that when the IMF’s official World Economic Outlook compares countries by their share of world output, it does so using PPP.
Yes, all statistics are open to various quibbles. It is perfectly possible China’s latest numbers overstate output — or understate them. That may also be true of U.S. GDP figures. But the IMF data are the best we have.
Make no mistake: This is a geopolitical earthquake with a high reading on the Richter scale. Throughout history, political and military power have always depended on economic power. Britain was the workshop of the world before she ruled the waves. And it was Britain’s relative economic decline that preceded the collapse of her power. And it was a similar story with previous hegemonic powers such as France and Spain.
This will not change anything tomorrow or next week, but it will change almost everything in the longer term. We have lived in a world dominated by the U.S. since at least 1945 and, in many ways, since the late 19th century. And we have lived for 200 years — since the Battle of Waterloo in 1815 — in a world dominated by two reasonably democratic, constitutional countries in Great Britain and the U.S.A. For all their flaws, the two countries have been in the vanguard worldwide in terms of civil liberties, democratic processes and constitutional rights.



Meanwhile, poverty is increasing in the US...