U.S. ; World's 2 Biggest Economic Powers Come Face to Face

Summary


When leaders of the world's No. 1 and No. 2 economies get together as they did in Washington this week, people increasingly ask which one is which.

Conservative pundits breathlessly warn that China's fast-growing economy is on the verge of surpassing the U.S. to become No. 1 in a sure sign of U.S. economic decline. Many U.S. voters think that already has happened, according to public opinion polls, though it is not projected to happen for years to come.

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U.S. ; World's 2 Biggest Economic Powers Come Face to Face

The U.S. remains the world's largest economy by far, with $14.7 trillion in total output last year compared with $6.9 trillion in China, according to the International Monetary Fund.

Yet the irony is that Washington's prescriptions for policy change in Beijing - pressed repeatedly in this week's summit between the superpowers...

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