XI AND then-VP JOE....(BFF, as long as the checks to the Biden Crime Family clear)
Posted on 12/28/2021 9:18:59 AM PST by blam
A year ago a respected Tokyo-based think tank, the Japan Center for Economic Research (JCER), alarmed observers in the West by forecasting that China’s economy will surpass that of the United States by 2029, or less than a decade out. But the same think tank this month issued greatly revised figures, saying this is now expected to happen later than previously thought – in 2033 and not 2029, according to the updated forecast.
JCER concluded that China is damaging its growth potential in its recent clamp down on big tech and other major industries, including among other things its ambitious but controversial decarbonization drive as it tries to present itself a ‘team player’ jumping on the West’s climate change agenda band wagon, racking up more debt in the process, and there’s also looming danger of bankruptcy for real estate giants – with of course deeply troubled Evergrande being of foremost looming concern.
As summarized in Nikkei Asia, significant falling investment is expected given the centralized Communist-run country’s “stricter financial regulations aimed at curbing excessive investment in real estate.”
“The latest projection also factors in the US’s rapid economic recovery this year, helped by a massive stimulus package pushed through Congress by President Joe Biden’s administration,” Nikkei added based on the JCER findings.
Further according to regional media commenting on the Japanese think tank figures, “Now the change is set to take place when the economies of the two countries reach US$35 billion each. Currently, the US GDP is around US$23 trillion while that of China tops US$16 trillion.”
“The size of China’s economy is not expected to surpass that of the U.S. until 2033, rather than 2029 as predicted a year ago by JCER, whose latest forecast says Beijing is damaging the country’s growth potential.”
Read @NikkeiAsia: https://t.co/xzlcafUZgU
— CSIS Economics (@CSIS_Econ) December 15, 2021
Meanwhile, days ago the World Bank weighed in on China’s near future outlook saying it expects China’s economic growth to stall in 2022. According to the World Bank forecast out on Wednesday:
The World Bank has cut its forecasts for China’s economic growth this year and next, as the world’s second largest economy faces mounting headwinds from the new Omicron variant to a severe property sector downturn.
The bank now expects China’s GDP to expand 8% in 2021 compared with a year ago — that’s lower than its previous forecasts. (In October, the World Bank expected China to grow 8.1% this year. In June, it projected a growth of 8.5%.)
It also cut its 2022 forecast from 5.4% to 5.1%, which would mark the second slowest pace of growth for China since 1990 — when the country’s economy increased 3.9% following international sanctions related to the 1989 Tiananmen Square massacre. China’s economy grew 2.2% in 2020.
Thus ultimately China’s ambition of fast becoming the world’s number one economy is likely to take a little longer. The full Nikkei Asia report can be accessed here, and JCER’s report (in Japanese) here.
Re: shortage of about 20 million women
Yikes!
Who takes care of and nurtures the young?
Did I forget to mention girlfriends?
Just what we need - a couple hundred million Chinese men who behave like Muslims.
Guess what. Import the third world because the third world. I would guess there are closer to 60 million illegals mooching off the country. Add another half the population paying no income taxes and living on some form of tax subsidy, and there is no one left. White people are left working and paying the taxes to fund everything and being demonized non stop has to be having an effect of white people just saying “screw this.” So while the US becomes Nueve Mogadishu, China is building up itself and telling Chinese to be proud Chinese. China is not suicidal. America is being murdered from within.
XI AND then-VP JOE....(BFF, as long as the checks to the Biden Crime Family clear)
Hey slojoe....look at the label on the T....it was probably made in China. Duh.
LoL.......
Yes I know. Went there in the 80’s. It was like stepping back to the Great Depression.
POTUS 45 delayed it by 4 years.
2 things will slow China: 1. Trade war or shooting war over Taiwan. The west will embargo China. Even a US embargo will devastate them. 2. Demographics. One child policy leads to a population crash, ruining their economy.
CAVEAT: Requires a strong US President for 1. Not Biden.
There is a BIG difference between China and Japan.
China has bigger population by orders of magnitude than Japan.
And China has more mineral wealth than Japan by orders of magnitude as well.
What I struggle with is how they would expand their economy without people from the outside continuing to buy what they have to sell. I suppose they could make themselves into a US and create a thriving, consuming, upwardly mobile middle class, but I don’t think they want to.
Alternatively, the US can continue to be dragged down, faster than China is. They would be the #1 economy in a very unhappy world, in that unpleasant scenario.
From what I know, China population is currently more prosperous than ever before. China can prosper from internal consumption with 1500 million Chinese.
Same way USA did for decades from internal consumption.
People in India today are like 10 times more prosperous than during when it was a British colony. With 1400 million consumers India also does not need exports to prosper.
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