Chinese-Dragon
RETIRED TTA
- Joined
- Jul 9, 2010
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- 33,932
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Productivity in the past was more affected by physical factors, such as number of people or amount of land available.
Today, in the knowledge-based economy, sheer numbers matter less. Land area matters in terms of natural resources but, even there, the bigger advantage goes to those who provide value added rather than those who merely provide the raw materials.
This is true, but can you imagine a developed country with 1.3 billion people in it?
China is still a developing country... but due to sheer scale we are already the world's largest manufacturer and energy consumer. If we can maintain a 7% growth rate for the next decade, and enter developed status, imagine how powerful we could become.
Already China's government revenues are about 2 trillion each year, almost as much as the USA. Last decade we multiplied our GDP by six times, even if we can only achieve half of that this coming decade, it will be enough to make us a true economic peer to them, thus ending America's global economic hegemony.