In a report that got little or no exposure, the World Bank says the lore of China's coming economic dominance is wrong.
Key point:
"For Americans, the new numbers from the World Bank bring good news and bad. On the plus side, U.S. leadership in the global system seems more secure and more likely to endure through the next generation. On the other hand, the world we are called on to lead is poorer and more troubled than we anticipated.
Maybe the old Chinese curse says it best: We seem to be headed for interesting times."
On the positive side for the Chinese, they don't have so-called experts trying to talk their economy into a recession, like we do.
(hat tip: John in Carolina)
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