“Hide your strength, bide your time.”
America is still in denial about being a smaller economy than China even though it has been for years. They’ll probably add a few more trillion in financial smoke and mirrors to keep up the illusion.
The economy is when you bail out financial services, and the more banks you bail out, the higher your GDP is.
Gonna triple the prices of houses to get those numbers up! Production!
Yeah but all of China’s GDP is useless crap like high speed trains and manufacturing. They’ve already fallen hopelessly behind in key areas of GDP like consultant and lawyer fees, rent people who own their houses would have paid (real thing, look up “imputed rent”) and selling jpgs of apes to each other.
don’t forget that China’s GDP doesn’t even include buying useless shit off Temu from China, the true marker of a well developed economy
Purchasing Power Parity is a fake metric because it doesn’t take into account important economic activities such as advertisement, addiction optimization, financial products with impossible-to-detangle risk profiles, and monetized political outrage. If you properly account for that, you will see that US economic output far exceeds China’s fake economy!
😄
This just means China will collapse any second now
China can remain growing longer than you can upload daily collapse videos.
Imna be real, the growth rates do not persist.
I mean, obviously this won’t go on forever, but China is a country of 1.4 billion, so it can reasonably aim for at least triple the US economy.
That is true! There is a place where they’ll end up, but predicting based on long term extrapolation isn’t usually good.
As a rule I agree, but I think in this particular case we do have a pretty good track record in China, and they do publish their 5 year plans so we know what their targets are. In this case it’s more nuanced than just saying they’re going to keep growing because they have been growing.
That’s a really good point. They do seem to have a habit of doing what they set out to. I see what you mean now, I was thinking too capitalist.
The growth rates are a strange entity to begin with. Mainstream Chinese economists expect that China’s growth will slow down eventually as their overall GDP rises, analogous to other high-GDP countries. This usually goes hand-in-hand with stressing the need for a transition to more domestic markets and balanced production (i.e. less focused on export and building productive forces at the expense of domestic workers).
At the same time, since GDP just measures “the sum of all the crap sold” and because the commanding heights of China’s economy are controlled by the CPC, it is possible for it to have a somewhat different trajectory than the other high-GDP countries, as all of those other countries are also the imperialist order, they structure their economies around extraction from the global south (a small number have been propped up by empire as bases for attack, e.g. occupied Korea).
Basically… China will be in somewhat new territory in its attempt to build a high-GDP economy with a balanced productive sector not dependent on massively unequal exchange. As others (maybe you?) correctly note, the USSR was on this trajectory, albeit at breakneck speed and with less overall productive development than China - and without the interdependence that Dengist strategies created.
The basic question will be whether China can keep making more and larger amounts of things and services that are sold somewhere. Part of this will be what prices they can charge, and whether they can be higher prices than now, and this will depend on domestic consumption and pay as well as the dynamics of exports, especially whether other countries can similarly develop productive forces or if they’ll just go the more likely direction of being neocolonies that make simpler products and with less concentrated industry.
Personally… I have no idea. I just think it’s new territory.
ChInA Is CoLlApsInG ANy DaY nOw!That seems insanely optimistic frankly. How legit is this website?
SORRY BUT THE GDP GROWTH WILL CONTINUE
Sorry China is collapsing and its the end of China according to accurate sources
Actually by building high speed rail and having too much of it they no longer have any construction projects and the economy will slown down
High Speed Rail Imperialism, The Highest Stage of State Capitalism
Question:
China’s military budget is ~$230 billion
USA’s military budget is ~$850 billion
Since the USA’s military-industrial-complex primarily functions as political patronage, and is only secondarily about maintaining empire, is it possible that the actual purchasing power of the Chinese military budget is fairly close to what the USA is getting out of their budget? Especially since China’s military has a more limited mission, and so doesn’t need the same level of capabilities for power projection that the USA does.
Since the USA’s military-industrial-complex primarily functions as political patronage, and is only secondarily about maintaining empire, is it possible that the actual purchasing power of the Chinese military budget is fairly close to what the USA is getting out of their budget?
I can answer this!
https://www.twz.com/china-acquiring-new-weapons-five-times-faster-than-u-s-warns-top-official
As well as the sheer speed with which Beijing is able to acquire new weapons, Holt contends, the Chinese are also operating far more efficiently. “In purchasing power parity, they spend about one dollar to our 20 dollars to get to the same capability,” he told his audience. “We are going to lose if we can’t figure out how to drop the cost and increase the speed in our defense supply chains,” Holt added.
“We have no competing fighting chance against China in 15 to 20 years,” Chaillan told the FT. “Right now, it’s already a done deal; it is already over in my opinion.”
Words of Cameron G. Holt, major general, in charge of all aspects of contracting.
I would imagine that the actual purchasing power of Chinese military far surpasses the US. Even Russia is able to outproduce the US militarily, and China is in a whole different league in terms of industrial power.
Can the world stop competing with GDP? It’s nonsense and leads to overproduction, overconsumption, and waste. It’s a “who can ruin the planet faster” competition.
If the entire world’s GDP needs to fall so that we can reduce population growth, emissions, and hunger, so be it.
