Some think that this war has already been fought, and America has lost. Underscoring this misnomer, according to Gallup, approximately 53 percent of Americans today believe that China is already the economic leader of the free world, even though China's GDP is a mere $7 trillion, if you believe their numbers, and U.S. GDP is a robust $15 trillion plus, or more than twice as big. To put our GDP into perspective, you can place two or three of the largest economies in the world into our economy, add South Africa, Mexico and several other economies for good measure — and you still have room. America is no punk, and our story is far from over. Remember, the world counted America out 20 years when it was universally assumed that Japan would rule the world, and us too. That bet was wrong, and the China bet could be wrong, too.