NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Looking ahead, one-third of Americans expect a shift in economic powers according to a new nationwide survey from TheStreet (NASDAQ: TST), conducted by GfK North America 1. The study finds that while more than half of Americans (59%) believe that the United States (U.S.) is currently the dominant economic power, more than one-third (35%) of Americans believe that China will inherit that title before the end of the decade.
"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, TheStreet's Economics Analyst. "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."
Other survey highlights include:
- Less than one third (28%) of those polled think that China is currently the world's dominant economic power.
- Half of those polled over the age of 65+ think the U.S. will be the world's dominant economic power in five to seven years but just over one third (35%) of 18-34 year olds think so.
- Over half (53%) of those polled who earn less than $25,000/year think the U.S. will be the world's dominant economic power in five to seven years but among those who earn more than $50,000/year 37% think the U.S will be the world's dominant economic power.