U.S. Is No. 1, China Is So Yesterday

The World Bank recently said the end of U.S. economic hegemony was coming before 2015 arrives. But we've heard this story before. Don't believe the hype about China. 
Sure, the Big Macs are cheaper, but is there enough freedom to develop the next big thing? Photographer: Tomohiro Ohsumi/Bloomberg

A decade ago, the fabled Goldman Sachs report "Dreaming With BRICs" predicted that China's gross domestic product would overtake the U.S.'s sometime in the 2020s. The World Bank study released last month was the hype to end all hype. It advanced the date of doom to the end of this year.

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