Many Americans See China as Dominant Economic Power

Before you go, we thought you'd like these...
General City Scenes As China Urges Economic Policy Implementation to Spur Rebound
Tomohiro Ohsumi/Bloomberg via Getty Images
By Ansuya Harjani

More than one quarter of Americans currently perceive China as the world's dominant economic power, according to a new survey, a reflection of the changing global order.

While the majority, or 59 percent, of Americans see the United States as the world's dominant economic power, only 43 percent of those polled believe it will retain its title by the end of the decade, according to a poll by GfK North America with TheStreet.

By contrast, 36 percent believe China will claim the position by 2020.

"Despite the slow economic recovery of the five years since the financial crisis, most people in the United States still regard the nation as the world's dominant economic power," said Joe Deaux, economics analyst at TheStreet.

"However, confidence that the U.S. will retain that status five to seven years out wavers. Though respondents still see the U.S. in the future as the outright economic leader, favor for China substantially narrows the gap," he said.

While China's economic strength is on the rise, the size of the mainland economy at $8.23 trillion is just over half that of the U.S. at $15.68 trillion, according to 2012 gross domestic product data.

However, China is seen overtaking the U.S. as the world's largest economy by 2030, according to the National Intelligence Council, an analytical arm of the U.S. government's Office of the Director of National Intelligence.

Aside from the world's two leading economies, 3.4 percent of respondents believe India could become the biggest economic power by 2020.

Even fewer saw potential for Russia, the euro zone and South America to emerge as a dominant economic force, at 2.2 percent, 1.9 percent at 1.6 percent, respectively.


More from CNBC:

17 PHOTOS
China Is Slowing, And That's Bad News For These 15 American States
See Gallery
Many Americans See China as Dominant Economic Power

Exports to China 2012:
$2.5 billion

Export Growth 2003 - 2012:
1,084%

At $1.2 billion, transportation equipment is Alabama's largest export to China, followed by chemicals at $648 million and crops at $179 million.

In the same period Alabama's exports to the rest of the world grew 120%. Canada, Germany, and China are its three biggest export markets.

Source: USCBC

Exports to China 2012:
$2.8 billion

Export Growth 2003 - 2012:
288%

At $449 million crops are North Carolina's biggest export to China, followed by computers and electronics at $386 million, and machinery (ex-electrical) at $281 million.

North Carolina's exports to the rest of the world grew 80% in the same period. China is North Carolina's second biggest export market after Canada.

Source: USCBC

Exports to China 2012:
$2.6 billion

Export Growth 2003 - 2012:
473%

At $1.3 billion, crops are the state's top export to China, followed by chemicals at $323 million, and transportation equipment at $243 million.

In the same period, Indiana's exports to the rest of the world grew 103%. Canada is its largest export market, followed by Mexico and China.

Source: USCBC

Exports to China 2012:
$3.0 billion

Export Growth 2003 - 2012:
422%

At $585 million, machinery (except electrical) is Pennsylvania's top export to China. This is followed by chemicals at $426 million, and minerals and ores at $424 million.

Pennsylvania's exports to the rest of the world grew 132% between 2003 - 2012. And China is its second biggest export market after Canada.

Source: USCBC

Exports to China 2012:
$3.2 billion

Export Growth 2003 - 2012:
457%

At $2.5 billion, crops are Iowa's biggest export to China, followed by processed foods at $222 million, and machinery (ex-electrical) at $134 million.

In the same period, Iowa's exports to the rest of the world grew 130%. Canada, China and Mexico are its top three export markets.

Source: USCBC

Exports to China 2012:
$3.3 billion

Export Growth 2003 - 2012:
1,001%

At $1.8 billion transportation equipment is South Carolina's biggest export to China. Chemicals are its second biggest export at $298 million, followed by machinery (ex-electrical) at $235 million.

In the same period, South Carolina's exports to the rest of the world grew 93%. China is South Carolina's third biggest export market, after Canada and Germany.

Source: USCBC

Exports to China 2012:
$3.5 billion

Export Growth 2003 - 2012:
418%

At $1.5 billion, crops are Minnesota's top export to China, followed by machinery (ex-electrical) at $401 million, and computers and electronics at $315 million.

In the same period its exports to the rest of the world grew 75%. Canada is Minnesota's top export market followed by China and Mexico.

Source: USCBC

Exports to China 2012:
$3.7 billion

Export Growth 2003 - 2012:
344%

At $1.1 billion, crops are Ohio's biggest export to China, followed by machinery (excluding electrical) at $511 million. Transportation equipment is the third biggest export at $399 million.

Ohio's exports to the rest of the world grew 57% in the same period. China is Ohio's third biggest export market after Canada and Mexico.

Source: USCBC

Exports to China 2012:
$3.7 billion

Export Growth 2003 - 2012:
743%

At $1.6 billion, transportation equipment is Michigan's biggest export to China. Crops are it's second biggest export at $453 million, followed by machinery (ex-chemicals) at $362 million.

Michigan's exports to the rest of the world grew 63% between 2003 - 2012. China is Michigan's third biggest export market after Canada and Mexico.

Source: USCBC

Exports to China 2012:
$3.8 billion

Export Growth 2003 - 2012:
443%

At $797 million, transportation equipment is Georgia's top export to China, followed by paper products at $681 million, and crops at $533 million.

In the same period, Georgia's exports to the rest of the world grew 116 percent. China is its second largest export market after Canada.

Source: USCBC

Exports to China 2012:
$4.2 billion

Export Growth 2003 - 2012:
192%

At $1.2 billion, waste and scrap are New York's biggest exports to China. Transportation equipment is a close second at $732 million, followed by machinery (ex-electrical) at $723 million.

In the same period, New York's exports to the rest of the world grew 89%. China is it's sixth biggest export market, with Canada, Hong Kong and Switzerland taking up the top 3 spots.

Source: USCBC

Exports to China 2012:
$6.1 billion

Export Growth 2003 - 2012:
422%

At $2.4 billion crops are Illinois' top export to China. At $743 million, machinery (except electrical) is Illinois' second biggest export to China, followed by waste and scrap at $589 million.

Illinois' exports to the rest of the world climbed 140% in the same period. Canada and Mexico are its biggest export markets, with China coming in third.

Source: USCBC

Exports to China 2012:
$7.9 billion

Export Growth 2003 - 2012:
239%

At $4.9 billion, transportation equipment is Washington's biggest export to China. Computer and electronics are the second biggest exports at $534 million, followed by waste and scrap at $430 million.

In the same period Washington's exports to the rest of the world grew 89%. Canada is its largest export market, followed by China and then Japan.

Source: USCBC

Exports to China 2012:
$10.1 billion

Export Growth 2003 - 2012:
229%

At $3.7 billion, chemicals are Texas' top export to China, followed by computer and electronics at $1.4 billion, and crops and machinery (ex-electrical) at $1 billion each.

Between 2003 - 2012 Texas' exports to the rest of the world grew 170%. Mexico and Canada are Texas' top two export markets, with China taking the third spot.

Source: USCBC

Exports to China 2012:
$13.6 billion

Export Growth 2003 - 2012:
156%

At $3.9 billion computers and electronics are California's biggest exports to China. At $2.4 billion waste and scrap are the second biggest exports, followed by machinery (ex-electrical) and transportation equipment at $1.4 billion each.

California's exports to the rest of the world increased by 69% from 2003 - 2012. Mexico and Canada are California's top two export markets, followed by China.

Source: USCBC

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION
Read Full Story

People are Reading