Addison Wiggin

141 years down… four to go.

The Organization for Economic Cooperation and Development (OECD) — the club of 34 Western industrial democracies — figures China will overtake the United States as the world’s largest economy by 2016. So would end a run that began in 1871, if The Economist’s start date is to be believed.

Of course, the OECD wonks performed their prognostications the usual way — projecting current trends far into the future. Thus can they predict an average 3% annual growth in GDP from now until 2060.

“None of these forecasts is set in stone,” admits OECD Secretary-General Angel Gurria, hedging the org’s bets. “We know that bold structural reforms can boost long-term growth and living standards in advanced and emerging-market economies alike.”

That is, if politics allow for “bold structural reforms.” One can only imagine what he might have in mind… or whether a vision for what’s next is necessary at all to make such a statement.

Cheers,
Addison Wiggin

The preceding article was excerpted from Agora Finacial’s 5 Min. Forecast. To read the entire episode, please feel free to do so here.

Addison Wiggin

Addison Wiggin is the executive publisher of Agora Financial, LLC, a fiercely independent economic forecasting and financial research firm. He's the creator and editorial director of Agora Financial's daily 5 Min. Forecast and editorial director of The Daily Reckoning. Wiggin is the founder of Agora Entertainment, executive producer and co-writer of I.O.U.S.A., which was nominated for the Grand Jury Prize at the 2008 Sundance Film Festival, the 2009 Critics Choice Award for Best Documentary Feature, and was also shortlisted for a 2009 Academy Award. He is the author of the companion book of the film I.O.U.S.A.and his second edition of The Demise of the Dollar, and Why it's Even Better for Your Investments was just fully revised and updated. Wiggin is a three-time New York Times best-selling author whose work has been recognized by The New York Times Magazine, The Economist, Worth, The New York Times, The Washington Post as well as major network news programs. He also co-authored international bestsellers Financial Reckoning Day and Empire of Debt with Bill Bonner.

Recent Articles

Extra!
Record Numbers Renounce U.S. Citizenship — Here’s One Alternative

Peter Schiff

Fact: More Americans than ever before are choosing to give up their citizenship. If you’ve been finding America’s tax laws inconvenient or even oppressive, however, read on. Peter Schiff outlines options for avoiding government intrusion in your life… without giving up your citizenship...


Printing Winners and Losers

Jorg Hulsmann

Like everything in life, there are winners and losers -- money production is no exception. In fact, thanks to the opening the money spigot, Guido Hülsmann of the Mises Institute explains we're ultimately looking at worsening income inequality. Read on...


Could Apple Buy a Third of the World’s Gold?

Frank Holmes

If you believe Apple’s advertisements, each new “iWatch” will be covered with gold. And they plan to sell millions of them. Today, our friend and colleague, Frank Holmes, takes a look at just how much gold Apple needs to pull it off, how serious they are, and what to watch for as the gold markets respond…


Bill Bonner
Warren Buffett — Lucky Coin Flipper?

Bill Bonner

If money were what really matters, Warren Buffett would have no peer. He has had unparalleled success in this world; surely he has a first-class ticket to the next. But what if Buffett's 84 years of luck turn on him now? Bill Bonner explores...