"For much of the past century, the United States has been the world's largest importer and exporter. This is what you may have expected from the world's dominant economy. But our days of preeminence are fading fast. In 2009, China surpassed the United States as the world's leading export nation (America is currently in third, behind Germany). As a small consolation, the U.S. still leads the world in exports of government debt. In February of this year, China became the world's largest trading nation (which is determined by combining imports and exports). And sometime in 2014, China is expected to overtake America as the world's biggest importer." - an excerpt from the Global Economic Realignment
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.