With the Brits pulling their own Declaration of Independence from the EU last month, the continental government is set to lose its status as the world’s largest economy.
Who’s back on top? The Red White and Blue, baby.
From The Wall Street Journal:
The International Monetary Fund‘s estimates and forecasts of gross domestic product , issued in its April World Economic Outlook, tell the story. The size of the economy of the European Union surpassed the U.S. decisively in 2004, when it expanded to add 10 additional nations in Eastern Europe, including Poland, the Czech Republic and Hungary. By 2008, the economy of the European Union was $5 trillion bigger than the U.S., according to the IMF’s data.
The diminished EU will also be overtaken by China by the end of the decade. With the U.K. still a member, the EU would have remained larger into at least the 2020s. Adding some insult to injury, the U.K. will be passed by India around the end of the decade as well.
The United States has been stewing at 2nd place since 2004, but it feels good to be back where we belong. The IMF also predicted we’re going to grow significantly over the next couple years, so now is a great time to be an American.
God Bless the USA..
[via The Wall Street Journal]
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