China Is Quietly Becoming The New Superpower of the World

China is growing at a much faster rate of clips economically than the USA, so much so that they've almost caught up. Let's discuss the possibilities of China becoming the next superpower of the world...

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1898 was a special year for the United States. It was the year, they won the Spanish American-war, they gained temporary control of Cuba, and a strong influence across nations throughout the globe. It was the start of USA being the superpower nation of the world. Since then they have grown and enjoyed a relatively strong period of being the nation at the top.

However fast forward to 2020, and it’s been over 100 years, of dominance by the United States. However there is a nation that is quietly building it’s economy, it’s power, and it’s influence across the globe and we’re coming to a stage where they’re almost as big as the United States. I’m talking about China of course.

Ok, so let’s look at some hard factual data. The best way to measure, how strong a country is becoming is through GDP growth. Gross domestic product, it basically measures how much a country is producing in any single given year.

Now if we go back over the past 10 or so years. We can see that China’s economy is growing at a much higher rate of knots, compared to the USA’s.
You know in 2019 China had GDP growth of 6.1%, compared to the USA’s 2.3%. That’s almost 3X the amount of growth. (1 please use website listed below)

And these big discrepancies, in terms of economic growth has been going on for more than 30 years, to the point where China is getting within distance of catching up now. The USA’s GDP as per the latest figures is $21.44 trillion dollars compared to China’s $14.14 trillion. This means China are now within $7.3 trillion dollars in nominal GDP of catching up…
But unlikely the USA they’re growing at a faster rate of knots.
This is why you’ve got groups of people predicting that by 2030, China will overtake the USA in terms of total production…

You know, it’s very important to take a step back and look at both countries as a whole…China has a population of around 1.4 billion. The USA’s population is around 330 million. That means china has over 4X the amount of people compared to the USA. Essentially China can have 4 people working for every 1 of USA’s person. This is a huge reason why they are growing at a much higher rate of clips compared to the USA. They just have more manpower.

And it’s the reason why you have people like Elon Musk predicting China’s economy to be at least twice the size of the states.
Musk said “A thing that will feel pretty strange is that the Chinese economy is probably going to be at least twice as big as the United States’ economy, maybe three times,”.

“If you have half the resources of the counterparty then you better be real innovative, if you’re not innovative, you’re going to lose. It would only require getting to a GDP per capita half the size the United States for their economy to be twice the size of ours,”.

At the end of the day China just has more to work with compared to the current superpower the USA. It’s because of all of these resources that they’re able to produce so much and sell a lot more than they need to bring in.

I mean just think about how many times you go to the shop to buy some random item, it could be any item, then you look on the back of it and say’s “made in China”. There’s a reason for that. It’s because China has the manpower and resources to produce all of that.

The U.S tend to have a massive deficit each year in terms of trade. These are figures from 2013 to 2018, so they’re a tad old, but as you can see the exporting is around 3 to 4X less, than then the amount they import (3).

This is because China are so good at producing things, and producing them for cheap prices.

And it’s not just the U.S, that China are good at selling to. It’s all around the world. And basically what this does for China, is it brings them a lot of money…
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