THE ASCENDANT CHINA DREAM
The most spectacular economic miracle has been flying under the radar for two decades now, but its impact will be universally acknowledged very soon. This is the story of China. The flip side of that miracle is a coalition of a superpower and former empires, straddled with shrinking middle class, rising debt and dwindling geopolitical hegemony. That is the story of America and Europe. Let’s take a look at the stories and see how they’re intertwined.
Most people still think of China as a “communist,” polluted, poor country that either makes horrible, cheap stuff or assembles expensive products for western corporations. In terms of GDP per Capita, China is ranked 70th in the world, below many Latin American countries. And there are 40 million Chinese who still live on less than $2 a day.
However, 87% of Chinese say their country is going in the right direction (that number is 43% for America). Why? Here is the paradoxical truth: while the average individual may not be rich, China as a nation has transformed itself into a global powerhouse. China’s GDP is now the 2nd largest in the world. In terms of PPP – Purchasing Power Parity – China’s economy is actually bigger than the U.S. This is because 100 in China will get you lot more than 100 in America.
China is also #1 in the world in foreign-exchange reserves – it has more than $3 trillion saved up, which includes $1.2 trillion of US treasury bonds. Can’t be that poor, right?
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The author of this article is Chris Kanthan. He is a hi-tech professional in the San Francisco Bay Area, and is also a writer and an author, trying to raise awareness about politics, world affairs, food and health through non-partisan blog posts, often with a twist of satire.
You can check out his books — available on Amazon (Kindle & paperback), Smashwords, Apple’s iBooks etc.
- Geopolitics For Dummies
- The Cure for Russophobia
- Deconstructing the Syrian War
- What the heck happened to the USA?
- Deconstructing Monsanto
All the writing in this article is copyrighted. Please contact the author Chris Kanthan at firstname.lastname@example.org if you would like to republish or use any of the materials.