America isn’t holding on to its foremost world power title in the near future. World power basically revolves around economic power; while the US is the largest economy by nominal GDP and second largest by GDP based on PPP, China is second largest by nominal GDP and largest by GDP based on PPP. America has a population of about 330 million people while China has 1.4 billion.
China Upward statistics
According to statistics, by 2030, China will overtake the US economically and become the world super power. The 21st Century has been termed the “Asian Century” because of the rise of China and, to an extent, India too.
As for whether China will do better than the US, you should know that China is an authoritarian communist country where censorship and mass surveillance restricts citizens from certain liberties.
The US on the other hand is a liberal democracy. The Communist Party of China does not share similar good values with America and that is why major world powers like US, UK, Japan, and others are continuously countering China.
United State’s Downward statistics.
Personally, a world that has China as a foremost superpower might not be desirable but that depends on the economic rise of possible counter-world powers like India which is a democracy with a 1.3 billion population.
If I have my facts correctly, predictions about China’s economic growth are made considering growth rate which China has been able to average at about 6 to 7% in the 21st century. America’s rate is at about 3% or less. At about $22 trillion nominal GDP, the US is witnessing economic stagnation especially this year. According to the World Bank, China is the only major economy which has bounced back significantly from the effects of the coronavirus and this year, the Chinese economy is valued at about $15 trillion.
My point is, it is still very likely China might overtake the US economically by 2030. This will indeed be the fall of USA.
As for the military, China has been accused of underreporting its military expenditure for years but speculations have it that in as much as their military expenditure isn’t anything near what the US spends on military, the Chinese military is already capable of giving America a fair standoff. But this would be obtainable if other factors like America’s alliances with big names like Japan, UK, France and Australia are taken out.
President Donald Trump; President of America.
It is also worthy of note and acknowledgment that at present, China being the world’s largest exporter and second largest importer has huge influence on the global stage. Don’t underestimate the power of a large population. China’s recent economic growth has been fueled chiefly by consumption due to its large population, something America doesn’t have.
Xi Jinping; President of China
Judging from the increasing poverty rate in the US, I don’t think America’s consumption rates can match the increasing rates in China which as a significantly communist inspired system has been able to manage poverty even as a developing country.
Bottom line, the US is likely to be one of these advanced economies that have reached a peak where growth becomes really slow just like what we have in the UK, France, Japan, Germany and others. But China is still a developing country and the rate of growth is still very much above positive.
What are your thoughts?
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