"Ed Huntress" writes:

But it IS, Tom [note: this was to another Tom, not me], if you start
from a much higher base. In the case of the US versus China, 3.1% is
actually three times more growth than 8.2%.

This topic is a lot more complicated than the two of you make it out
to be. However, economic growth measured as money is not something
economists tend to care much about. Rates of growth are what matter
in the long run -- a rich country in stagnation is in a much worse
situation than a poor country experiencing rapid growth. The USA is
certainly the largest, single economy in the world, and it experiences
healthy growth these days (although there are worrying aspects too,
such as the lag in the job market, the budget deficit, and the ugly
average savings/earnings ratio). However, China's economy is growing
at an incredible rate, and looks poised to take over, within a few
decades, America's role as primary engine of the world economy. There
are downsides in China too, of course, and a lot rides on the ability
of the administration to complete the controlled transition of the
country into a capitalist democracy. So far, they're at least doing a
heck of a lot better than the poor Russians did...

OBmetal: my new 7x12 is on a slow boat from China right now! :-)

-tih
--
Tom Ivar Helbekkmo, Senior System Administrator, EUnet Norway
www.eunet.no T: +47-22092958 M: +47-93013940 F: +47-22092901