First some notes:
World Population: 6,930,700,000
US Population: 311,745,000
China Population: 1,339,724,852- Advertisement -
India Population: 1,210,193,422
US Corporations now earn over 2/3 of their income in other nations.
The graph below is based on latest population estimates for 2011. Most of the economic growth and new jobs are being created in China, India, Brazil and in the Asian nations in general.
The population represents potential consumers for goods and services produced by both US Companies and companies local to each nation. Our "slice of the pie" based on potential numbers of consumers is tiny compared to the world population and to the populations of China and India. Of course this chart shows total population but the ratio between "us and them" shows the potential size of each market today and into the future.
Currently the US still leads the world with regard to the size of our economy but not with regard to the rate of growth of our economy. Our workers still command higher wages than in most other nations which has historically led to a higher standard of living and more spending to fuel our economy. As our wages decline in purchasing power so does our economy decline. Spending is what keeps an economy strong. No spending means no demand means reduced production and closed businesses. This leads to more unemployed who cannot spend, leading to the spiral downward.
Graph created by P. Kruger. Permission granted for free distribution