Will Europe dominate the world economically once again?

Question

Germany was once the world's largest exporter now reduced to 2nd because of massive US spending on Chinese goods. Germany paid off its WWI debt yet the country that unfairly put the debt on Germany is now asking to borrow. Germany is also one of the few "surplus" economies with a stable economy and a low unemployment rate compared to most of the world. Germany, in the Global Recession, only got a mere scratch. Unlike the economic giant USA, Germany does not move their jobs overseas for cheap goods, they keep most of it in their home country for their people to work, not underpaid kids. China is dependent on US businesses, hence why they surpassed Germany in exports, without USA, China will just be a giant piece of land full of resources but not industrialized. However, China's no longer a 2 digit GDP growing economy, they recently fell to a 9.5% growth per year compared to 10-11%.

Turkey, despite being 3% geographically European yet very culturally European with a blend of Islam, overthrew India as the the 2nd fastest growing economy. Turkey's GDP growth is now 9% per year, .5% difference with China. Turkey's strategic location and its vast resources made it historically and even today very important for trade routes, resources, etc. In just a short amount of time after being a "Newly Industrialized" nation, it surpassed what people thought would compete with the PRC, India.

Assuming Germany's a pragmatist of a country, and assuming Turkey continues to grow, would this mean the days of US-China dominance of world economy be replaced by Europe once again?

Sources:
http://en.wikipedia.org/wiki/Economy_of_the_People's_Republic_of_China
http://money.cnn.com/2012/04/12/news/economy/china-gdp/index.htm
http://www.nytimes.com/2011/07/13/business/global/chinas-economy-shows-signs-of-slowing-down.html
http://en.wikipedia.org/wiki/Economy_of_Turkey
http://www.propertyturkeyforsale.com/turkey-economy-second-fastest-growing-in-the-world-news-i602763.html
http://english.sabah.com.tr/Economy/2012/04/03/turkey-takes-on-worlds-second-highest-growing-economy
http://en.wikipedia.org/wiki/Economy_of_Germany
http://whiskeyandgunpowder.com/germanys-stable-economy/
http://www.aicgs.org/issue/turkey-and-germany-stable-economies-stable-ties/


The only countries I can think of that can challenge the two would be Mexico and Brazil. Brazil being the 6th largest economy (and potential super power) with Mexico predicted to be among the top 5 economies by 2050. Even if they did succeed, the West would still hold the crown until an Eastern country takes the throne.

LouiKung · Accepted Answer

I doubt. It is not likely European countries will dominate the economy of this world.
http://search.yahoo.com/search?p=The%20economic%20outlooks%20of%20the%20current%20and%20future%20of%20Europe
Many scholars and economists are forseeing the economic recession is underway in most European countries, probably Germany is not count in it.
http://search.yahoo.com/search?p=The%20economic%20depression%20of%20European%20countries%20in%20the%20next%20ten%20years
We just can give the major reasons why European countries will not dominate the global economy in the future.
1) The mass debt
2) The lack of competitive ability to many Asian countries, such as  China, Japan, and Singapore
3) Lack of technological innovation and changes
I think the Asia will dominate the global economy in the future is the reality.

Anonymous · Answer

My theory goes as follows: Woman will slowly continue to gain more power in this country. More and more woman will take power in politics. The more they push for their ways the more arguments that will happen between men and women; seperating the 2 in all aspects. Divorces will rise even higher. Domestic violence will become even more of a problem (men beating women) and eventually the world will end due to an all out war between men and women. It will be a stupid man to push the button on the Nuke. His line of thinking will be "better with nothing than living under a womans ways." And thats how the world will end. A war between men and women across the world. Just a theory. I dont think this will happen for another 100-150 years.

Baby B. · Answer

Read more from sources outside the US and the truth will come out. In war they call it propaganda, tell more of your good side and more bad side of your enemy. That way you look winning always. The west is in ****, printing money and the east is everywhere the west was. Europe's time come and passed, now its the east. This apply to economy and military. See new world bank leader, trying to appease the east. It will not work. The west is already sliding on the slope.

Fear of the Dark · Answer

How do you mean "will"?
They allready do.
The EU is the worlds biggest single economy.

Anonymous · Answer

Europe will dominate Russia.And China,India,Brazil will dominate Europe.This is the possible projection so far.

? · Answer

It would depend- on wether or not they can survive the debt crisis.
If the crisis strengthens the Euro by forcing the UE to require balance budgets and to actually pay on their debt the EU would be just fine. The money that had been tied up in the debt would go into the genral ecconomy and strengthen the EU

Anonymous · Answer

Actually Europe is china's #1 trading partner, not the US.

Anonymous · Answer

Funny, I was wondering the same thing myself

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Will Europe dominate the world economically once again?

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