China Becoming Next Super Power | How China Will Be Next Super Power
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 attained a strong influence across nations throughout the globe.
However, fast forward to 2020 there is a nation, china that is quietly building its economy, its power, and its influence across the globe and we’re coming to a stage where China will not only as big as the united states but will be ahead of the US.
Elon musk predicting china’s economy to be at least twice the size of the states
“Chinese economy is probably going to be at least twice as big as the united states economy maybe three times”
Let’s look at some hard factual data.
GROWTH GROSS DOMESTIC-GDP
The best way to measure how strong the country is becoming is through GDP growth gross domestic product it basically measures how much a country is producing in any single given year.
If we go back over the past 10 years or so we can see that china’s economy is growing at a much higher rate of knots compared to the USA’s.
In 2019 china had GDP growth of 6.1 percent compared to the USA’s 2.3 percent that’s almost three times the amount of growth and this big discrepancy in terms of economic growth has been going on for more than 30 years to the point where China is getting within a distance of catching up.
USA’s GDP as per the latest figures is 21.44 trillion dollars compared to china’s 14.14 trillion this means china is now within 7.3 trillion dollars in nominal GDP of catching up.
BELT AND ROAD INITIATIVE-BRI
One of the greatest China’s trillion-dollar plans is BRI, to dominates the global trade system; building trade routes across the land and sea covering more than 70 countries.
Through one belt one road, reminiscent of the Silk Road, will connect Asia with Africa and Europe via land and maritime networks along six corridors.
BRI’s geographical scope is constantly expanding. So far it covers over 70 countries, accounting for about 65 percent of the world’s population and around one-third of the world’s Gross Domestic Product (GDP).
PRODUCTION OF GOODS AND SELLING IT AT CHEAP PRICE.
Think about how many times you go to the shop to buy some random item it could be any item and then you look on the back of it and it says ‘Made in China.’
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