China to overtake US as world's biggest economy by 2028, report predicts

[Place Of Space]

Congratulation to China. However, no need to brag. Let's wait until 2028. There are still too many obstacles ahead.

In the years back, I am not very sure. But after the 2 years America-China trade war, though both sides suffer, America already has limit method to stop Chinese economy growth. Do you share what you concern?

 

[Beidou2020]

We have a long way to surpass the America from technology innovation, military deploy, international organization network, and social stability.
I emphasise the last point. The America is really stable. It suffers seriously the ethnic violent problem, virus pandemic, illegal immigration, industry hollowness, middle east wars quagmire, financial deficit, but it still doesn't collapse. It's really a miracle. This is what we have to learn and rethink completely.

The ‘miracle’ you talk about is the dollar having a high percentage of use in global trade, investment, finance and reserves.

US is nothing special without the dollar’s status. They can spend way beyond the means of their normal economy on technology, military, social security, because of the dollar’s status.

They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. Without this privilege, the US would have collapsed just like the Soviet Union did.

The entire American economy is a Ponzi scheme masquerading as a real economy.

 

[zectech]

The ‘miracle’ you talk about is the dollar having a high percentage global trade, investment, finance and reserves.

US is nothing special without the dollar’s status. They can spend way beyond the means of their normal economy on technology, military, social security, because of the dollar’s status.

They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. Without this privilege, the US would have collapsed just like the Soviet Union did.

Why do you think they export dollars for Chinese inexpensive goods, because it keeps price inflation low in the states. China has been keeping the US from collapsing politically and economically. Same with the Saudis and dollar oil markets.

The USA wants to crash this system, blame somebody else and then set up a new order. That was the whole reason for releasing the virUS. And that plan got defeated with the November elections. Which is why trump and cia are chimping out.

 

[Hakikat ve Hikmet]

Yes, wage more wars on Afganistan, Irak etc. - that too on behalf of the 3rd parties - and get decimated by China.....

 

[Baz2020]

2028? Lol. The funny side of this story is that the public has no way of knowing. However given the propaganda against China, I am pretty sure this has already happened several years ago. So cut the crap and stop coming up with BS

 

[Place Of Space]

The ‘miracle’ you talk about is the dollar having a high percentage of use in global trade, investment, finance and reserves.

US is nothing special without the dollar’s status. They can spend way beyond the means of their normal economy on technology, military, social security, because of the dollar’s status.

They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. Without this privilege, the US would have collapsed just like the Soviet Union did.

The entire American economy is a Ponzi scheme masquerading as a real economy.

"They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. "
This is what I doubt. People always say America can print dollars as much as it wants. Is this real? Every money has its values. Hope any economic or financial experts to share their reviews.

 

[SrNair]

No point in become third largest economy .
What we need in India is highest human development without sacrificing environment
A lots of reforms are going on.
Hope we will achieve that within 10 years

 

[zectech]

"They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. "
This is what I doubt. People always say America can print dollars as much as it wants. Is this real? Every money has its values. Hope any economic or financial experts to share their reviews.

Money as Debt:

US dollar is hyperinflated, so long as nations around the world are desperate for dollars, and the peasants slave away for dollars. Hyperinflation has no effect. That hyperinflation, supply of money, is used to crash other currencies like the attack on the Turkish Lira. And crash commodities to make the dollar look valuable.

There is no price discovery in the currency and commodity markets. That is not allowed, that would collapse the dollar if allowed. Washington policy is to punish long term stability investors who buy gold, coffee, etc long who lose trillions, and reward manipulators, who make trillions. If you bet against the dollar based on fundamentals, you lose every penny. That is Washington economic policy 101. To end this, you had to have bought physical gold and silver to crash their manipulation. However with cia bitcoins being the replacement of gold as anti-dollar play, Washington controls both sides.

 

[Indos]

"They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. "
This is what I doubt. People always say America can print dollars as much as it wants. Is this real? Every money has its values. Hope any economic or financial experts to share their reviews.

Yup, that is real, just google "Quantitative easing the Fed"

There is some limitation but the limit is still quite large. World economy and its global trade grows quite fast and as global trade currency of course USD global demand is following that growth.

 

[TaiShang]

The ‘miracle’ you talk about is the dollar having a high percentage of use in global trade, investment, finance and reserves.

US is nothing special without the dollar’s status. They can spend way beyond the means of their normal economy on technology, military, social security, because of the dollar’s status.

They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. Without this privilege, the US would have collapsed just like the Soviet Union did.

The entire American economy is a Ponzi scheme masquerading as a real economy.

I think expensive services such as healthcare and legal business help inflate US GDP.

Nevertheless, China needs to rely on USD-pegged GDP calculation while it surpasses the US in all other metrics such as resource utilization, exports and imports (soon).

No point in become third largest economy .
What we need in India is highest human development without sacrificing environment
A lots of reforms are going on.
Hope we will achieve that within 10 years

Sacrificing environment?

Do you know India tops the most polluted cities list?

I don't know how this is still not sacrificing environment.

 

[Indos]

No point in become third largest economy .
What we need in India is highest human development without sacrificing environment
A lots of reforms are going on.
Hope we will achieve that within 10 years

Your latest reform in agricultural sector has been protested by your farmer. Many said your law in agricultural sector is unfair like farmer cannot sell their product to the highest bidder nation wide and must abid on local market price instead.

 

[Viva_Viet]

"They can print trillions and spend on anything without having to worry about inflation because the dollar has high global demand. "
This is what I doubt. People always say America can print dollars as much as it wants. Is this real? Every money has its values. Hope any economic or financial experts to share their reviews.

US take the biggest profits from products manufacturing in CN.

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Chinese manufacturers are able to offer Trump and Biden supporters low prices. Yiwu merchants will sell the “Make America Great Again” baseball caps for as little as 88 cents, generating a generous profit margin for US retailers that can charge $12 or more for each hat. The manufacturers in Yiwu make about $2 per hat.

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www.google.com

I think expensive services such as healthcare and legal business help inflate US GDP.

Nevertheless, China needs to rely on USD-pegged GDP calculation while it surpasses the US in all other metrics such as resource utilization, exports and imports (soon).

CN economy is recovering fast mainly bcs EU-US have to import a huge amount of PPE, electronic stuff due to Covid.

But Covid wont last for good, so ppl wil stop buying CN PPE, electronic stuff in huge amount and CN only can rely on selling hat, flag to earn 88cents again.

 

[zectech]

If trump ever leaves the white house, bitcoin is one of the biggest threats to China that needs to be addressed. it is essentially a trump money, a ponzi scheme. Those who bought bitcoin first and got it at pennies or fractions of a penny were Washington. The second group that bought bitcoins at 1 or 2 dollars per bitcoin were trump supporters. The third group who bought in were wall street investors. Meaning the first three groups who made bitcoin fortunes were anti-China and have racial hatred against the Chinese. If bitcoin becomes the world currency, the mark of the beast against the Chinese, one bitcoin would be worth 1-3 billion (current valued) yuan. The wealthy would be the china-haters and the poor would be those who got in last. China needs to develop a policy to mine and stack bitcoins to never be sold, and to have over 1 million bitcoins, not by buying them, but through mining the rest of bitcoins. And even then China would only have 1/21 out of every new currency bitcoin. China would even then be comparatively poor compared to now. This is the purpose of the ponzi scheme bitcoin - a Washington wealth transfer by a ponzi scheme. The best way to prepare is to not mine Chinese iron ore and Chinese mineral wealth, to store that for Chinese closed economy. China in 15 years is going to be forced to buy up imported coal, iron ore, etc with bitcoins. This would crush the Chinese economy worse than the opium wars. China has to absorb the mineral wealth of the world now to save their economy from the cia ponzi scheme bitcoin. bitcoin = trump dollars.

Another preparation is to corner the world's gold and silver supply at low prices. To have your own currency backed by gold and then in 10 years when bitcoin is the worlds currency, only those who trade in gold and silver (not bitcoin) can be part of the Chinese economy. And to revalue gold and silver very high - higher than bitcoin now.

Those are my three solutions (mine bitcoin, stack gold and silver more than ever before and store up what China imports for times of lack) to the threat by trump bitcoins. What is China's solution against the bitcoin pyramid scheme.

Bitcoin is a pyramid scheme, economist says

Yahoo Finance discusses the use-case for cryptocurrency and a rocky decade for Bitcoin

finance.yahoo.com

Blow To Bitcoin As Portnoy Warns Cryptocurrencies Are Just ‘One Big Ponzi Scheme’

Portnoy has revealed he's completely cashed out his $1 million bet on bitcoin and warned he thinks the cryptocurrency market is nothing more than a Ponzi scheme...

www.forbes.com

Bitcoin is basically a Ponzi scheme

What about the fact that those who bought bitcoin early have made huge amounts of money? Well, people who invested with Bernie Madoff also made lots of money, or at least seemed to, for a long time.

www.seattletimes.com

Bitcoin was called a ponzi scheme for years by economists and financial experts, yet Washington allows bitcoins to be traded on "wall street" (financial boards). Bitcoin is a USA endorsed and approved ponzi scheme. What are the motives of Washington in approving bitcoins.

This is what crypto-currency defenders of bitcoin say in defense of bitcoin: " In a Ponzi scheme, the leaders, or those who initiated the pyramid, receive huge gains, the latest arrivals lose everything."

As I simply pointed out here in this post, that those who buy last into bitcoin, lose everything of their wealth, they become poor slaves who were the last to buy into bitcoin when bitcoin becomes the worlds currency. This is a wealth transfer that history has never experienced and it is the ponzi scheme of bitcoin.

 

[AViet]

In the years back, I am not very sure. But after the 2 years America-China trade war, though both sides suffer, America already has limit method to stop Chinese economy growth. Do you share what you concern?

A limited war, for example, in which China invade India or block the East Sea (Vietnamese term for South China Sea) can hamper the development of China. Meanwhile, the US can consolidate their power and alienate China even more with its main markets like EU and Asean.

I do agree that in long term, liberal democracy, a la Western style, is dying, but it may not happen by 2028, and the soft power of US, as a beacon of it, will be still by that time. China alone cannot fight (economically or militarily) against all major powers, which are, except Russia, still "democracies" at least officially, if these powers unite thank to China's wrong provocative actions.

For its best and long term interest, China should mend the ties with India and Vietnam. India will still be insignificant global player (economically and militarily) for a foreseeable future, but it is a very large country by population. Vietnam has a lot in common with China, culturally as well as politically, and it would not be good for China if Vietnam seeks closer ties with the West, again thank to China's provocative actions.

 

[letsrock]

I think expensive services such as healthcare and legal business help inflate US GDP.

Nevertheless, China needs to rely on USD-pegged GDP calculation while it surpasses the US in all other metrics such as resource utilization, exports and imports (soon).

I am not sure they are expensive if people come from all over the world to get the treatment from US. Those who claim US is expensive are forgetting that US attracts humongous capital and human skills from all over the world. US is attractive country worth the expense - the multiculturalism, the rule of law, excellent real estate add to its attraction,