China could become the world’s largest economy much sooner than expected

[Brainsucker]

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What are the chances, China can convince GCC to dump Petro dollar for Petro Yuan? China holds tremendous buyer leverage.

Not petro Yuan. As the global industry, China need RMB to be low in value. If China want to make a competitor to SWIFT and Petro dollar, they should propose a new type of international currency that can't be interfered by anyone, including China government. With that, the petro Yuan (not petro RMB) will gain trust by more countries, and eventually replace petro Dollar.

After that China should make RMB value lower than the new international Yuan, so they can happily export just like before. If China raise the value of RMB, they will become like United States. They will eventually lost their current industrialization power as people will find another industry countries with lower money value. That can become the downfall of China current economy power.

 

[beijingwalker]

For example, metals are still primarily traded in the London metal exchange. If China displaces these western markets and becomes the number one trading market in key commodities, it will have a higher likelihood of gaining reserve currency status, at least on par with the Euro, and possibly eventually with the Dollar.

China produces and consumes around half of major metal in the world, steel, copper, alluminium..., Russia is rich in natural stock, so it's easy to do this business without the west.

 

[FuturePAF]

That’s the primary reason why China is pushing 5G and 6G so much, because it wants to be a first mover in developing the key platforms for that technology.

True, but that is on the hardware side. How does China plan to create soft power; how does it plan to dominate the “software” on these platforms; what’s communicated over these networks, who decides what the public see and how the narratives are shaped. What’s the use of a platform is someone else can get on the network you build and outcompete you.

China produces and consumes around half of major metal in the world, steel, copper, alluminium..., Russia is rich in natural stock, so it's easy to do this business without the west.

But the international price is set in London. Why is that?

 

[beijingwalker]

But the international price is set in London. Why is that?

Western domination legacy, time to change.

 

[tower9]

True, but that is on the hardware side. How does China plan to create soft power; how does it plan to dominate the “software” on these platforms; what’s communicated over these networks, who decides what the public see and how the narratives are shaped. What’s the use of a platform is someone else can get on the network you build and outcompete you.


But the international price is set in London. Why is that?

True, China is very lacking in soft power. And that will take a lot of time to build. Tik Tok however is an example of a Chinese app that has gone global.

 

[FuturePAF]

Western domination legacy, time to change.

With Russian metals going predominantly to a China, now or soon maybe the time to make this change, if China really wants to end the “legacy”.

True, China is very lacking in soft power. And that will take a lot of time to build. Tik Tok however is an example of a Chinese app that has gone global.

That is a great example, and the data gathered will help China fine tune follow up apps and services for each local market.

Also, China doesn’t seem like it wants to invest in building up a soft power image, perhaps not to raise expectations.

 

[Mista]

True, China is very lacking in soft power. And that will take a lot of time to build. Tik Tok however is an example of a Chinese app that has gone global.

A Chinese app which further extends American soft power lmao. I turn on my TikTok and the majority of top contents are from the US. I can imagine young people over the world who use TikTok are getting more and more exposed to American culture and lifestyles.

Meanwhile China prefer to 自嗨 within the great firewall on Douyin lol.

 

[tower9]

A Chinese app which further extends American soft power lmao. I turn on my TikTok and the majority of top contents are from the US. I can imagine young people over the world who use TikTok are getting more and more exposed to American culture and lifestyles.

Meanwhile China prefer to 自嗨 within the great firewall on Douyin lol.

It adapts to your preferences

 

[retaxis]

A Chinese app which further extends American soft power lmao. I turn on my TikTok and the majority of top contents are from the US. I can imagine young people over the world who use TikTok are getting more and more exposed to American culture and lifestyles.

Meanwhile China prefer to 自嗨 within the great firewall on Douyin lol.

Tiktok promotes LGBTIQ identity and turns men into shemales and wimps. Actually a very powerful tool use by China to destroy American culture of hard working people into shemale sissyboy who promote BLM and cry when someone doesn't use the right pronouns.

no wonder right wing conservatives detest tiktok

 

[Mista]

It adapts to your preferences

I rarely use TikTok though.

List of most-followed TikTok accounts - Wikipedia

en.wikipedia.org

.

 

[beijingwalker]

I don't worry much about so called cultural soft power. after economic hard power comes, all others will come naturally one after another, China just needs to set her sight on the main prize.

 

[Han Patriot]

The US produces “platforms” most people use. Facebook has nearly 3 billion users. The English language is another “platform” that people around the world utilize to make their lives easier when they interact with other people. When someone can outcompete these platforms then they will be able to displace the US, but until then, US soft power will dominate, whether people acknowledge it or not, whether people like it or not.

The US got lucky taking over from the British, with a common language. The Soviets tried to compete by spreading their culture but they had limit success. The French still have a de facto empire so their include persists, and Spain can leverage its influence amongst Spanish speaking countries around the world.

China can best compete by supporting/emanating her partner nations to maximize the use of their own languages and break from these European origin languages and platforms. For example, VK is a Russian social network that is very popular in the Russian speaking world, and enables cross communication across many languages used in Russia and neighboring nations. The concept of a self contained domestic internet with all the apps tailored for the local market is china’s strong point, which Russia wants to replicate. We should observe how Russia transitions to more local or Chinese services as it has been cutoff from western services.


The US also dominates key technologies and key resources. For example, metals are still primarily traded in the London metal exchange. If China displaces these western markets and becomes the number one trading market in key commodities, it will have a higher likelihood of gaining reserve currency status, at least on par with the Euro, and possibly eventually with the Dollar.

EURO usage is actually not low, at around 35%, only a few points shy of the dollar. China has got the Dalian commodity exchange, I don't think we can or should displace dollar. We should aim for a 50:50 economy first, 50% trade done in dollars, 50% done in Rmb. Never do things abruptly, always do things gradually. As Deng said, feel the stones while crossing the river, see if its too deep or shallow. This had been our policy all along, we won't do crazy shit like the Russians, we slowly patiently massage Taiwan.

 

[Leishangthem]

To contain china,chances are hight that the US will initiate a war provocation on China to mobilize europe and their puppet states against china,following ukraine model.

 

[MH.Yang]

Not petro Yuan. As the global industry, China need RMB to be low in value. If China want to make a competitor to SWIFT and Petro dollar, they should propose a new type of international currency that can't be interfered by anyone, including China government. With that, the petro Yuan (not petro RMB) will gain trust by more countries, and eventually replace petro Dollar.

After that China should make RMB value lower than the new international Yuan, so they can happily export just like before. If China raise the value of RMB, they will become like United States. They will eventually lost their current industrialization power as people will find another industry countries with lower money value. That can become the downfall of China current economy power.

Becoming an international currency represents both great interests and great risks.
Unlike USA, China's core interests lie in the stability and security of Global trade, so we don't need CNY to become an international currency. We hope that the monetary system will be diversified and the world will share currency risks.

 

[Indus Pakistan]

If China, like USA, adds "virtual rent" to GDP, China has surpassed USA.

What a fantastic but succint sentance. The 'virtual rent' hits it on the bullseye.

The Chinese model is more likely to be a poison to Pakistan. China is a homogeneous country with a centralization historical tradition and culture. Pakistan is not a homogeneous country. If it adopts the Chinese model, it is likely to be strongly resisted by local forces.

Of course I know. I said it with overflowing sarcasm. Yet cretins here and beyond think accepting the Shuhada and being circumcised rolls you seamelessly into one super homogenous group that begins on the shores of Atlantic in Marocco and ends in Pakistan covering thirty countries, five time zones and nearly three continents. The magic identity is 'Muslim' apparently.

When truth [Muslim] it barely can paper over the differant ethnic, regions, clans, tribes in Pakistan. In fact one of the thing holding Pakistan back is any leader, good or bad cannot do much.

The fact is the moment they take position of power the other divergent groups begin trying to bring down the government - thus 90% of ruling dispensation effort is used to stay in power. There is precious little left in the bandwith of any government to think long term leave alone plan and implement projects that might have decade plus gestation period.

Why would they think about 2032 when they are not even sure about being in power in 2023? Thus most end up making the best they can while they are on the ride, grab money and enrich themselves.