China could overtake the U.S. as the world’s largest economy earlier than expected China is set to overtake the United States as the world’s largest economy a few years earlier than anticipated due to the coronavirus pandemic, analysts said. The U.S. reported last week that gross domestic product in 2020 contracted by 2.3% to $20.93 trillion in current-dollar terms, based on a preliminary government estimate. In contrast, China said its GDP expanded by 2.3% last year to 101.6 trillion yuan. That’s about $14.7 trillion, based on an average exchange rate of 6.9 yuan per U.S. dollar, according to Wind Information data. That puts China’s economy at only $6.2 trillion behind the U.S., down from $7.1 trillion in 2019. “This (divergence in growth) is consistent with our view that the pandemic has been a much larger blow to the US economy than China’s economy,” Rob Subbaraman of Nomura said in an email Friday. “We believe that on reasonable growth projections the size of China’s economy in USD terms will overtake the US in 2028.” If the Chinese currency strengthens further to around 6 yuan per U.S. dollar, China could surpass the U.S. two years earlier than anticipated — in 2026, Subbaraman said. The yuan began strengthening against the U.S. dollar in the last six months to levels not seen in more than two years. https://www.cnbc.com/2021/02/01/new-...-its-toll.html
I disagree purely from the point of view, when a country is run, controlled, dictated to and surveilled by control freaks, it begins to crumble from inside. Control freaks not only wish to destroy the enemy, they end up destroying their own kind, just look at Trump as a recent example.
except China's been control freak from more than 50 yrs? Nah, Trump botched the pandemic View attachment 250590
It's a known fact China has grown in strength in its economy, military and embedded in social media resources used by Americans. I'm just hoping that it slows down under the Biden / Harris administration just long enough for the United States to catch up again (U.S. not that far behind) to become at least equals. Yeah, I've been paying attention for the past year to the Yuan strengthening against the U.S. dollar. wrbtrader
Is that why the Shanghai Composite Index returned 18% during the Trump years, while the S&P 500 returned 82%. Yeah Here4Money, lets not even do a little bit of elementary analysis. I don't understand why, but there is a large population in media and the general public that actually want to see China defeat the US. It is scary and appalling. Its okay though, when the Chinese take over, you wont have to worry about a knee on your neck. You will be flattened by a tank before the police have a chance.
I can't believe I am agreeing and liking a wildchild post, but it is true. China is a POS that will get nowhere. The only thing they have going for them is their nuclear stockpile. They cannot create anything new. Once they discovered how to make gunpowder, nothing else mattered to them. All they do NOW is copy the shit everyone else has made, and try to improve on it and sell it cheaper, by exploiting millions of prisoners, and maybe kids.
Don't get ahead of yourself. When I agree with something (or someone), I say it. When I disagree with something (or someone), I say it. IF I FEEL THAT IT WOULD HELP THE CONVERSATION, HELP EITHER ME OR THE OTHER LEARNER, OR WILL MAKE IT FUNNY, then I will pipe up. That's it. That is all there is to me. I want to earn money trading and make people laugh at the same time. The two are separated, truly. I think I am better at making people chuckle through writing. Heh...hehe...eehe...