Can China's economy outpace the US? | Counting the Cost
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- Опубликовано: 3 июн 2024
- As Xi Jinping heads into his third term as China's president, with sweeping changes to financial and tech regulation, he is bracing for a tough competition between the world's two largest economies.
Xi has made it clear he considers the United States a big threat to his country's growth, blaming what he called a US-led campaign of "suppression" for his nation's troubles. His rare direct criticism of Washington comes after the US set its lowest gross domestic product (GDP) target in decades.
Elsewhere, the president of Malawi tells us how least developed countries can reach their potential.
And we take a look at gene therapies. It can save lives, but at what cost?
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He is right, there is no 'prize' in being #1. What really matters is how well ordinary people are living. If you live in a country with a big economy on paper, but in reality all the wealth is hoarded by a small number of people while ordinary people struggle for their day-to-day living, then that is nothing to brag about. All developing countries should really focus on what can be done to improve their citizens' real standards of living and happiness, hopefully without trashing the planet in the process.
This. This guy has the same amount of money as these 4 guys put together. Equal value, not the same.
Yeah, you're Wright, your point have some sense, i wish you'd stand on for presidency next term in your country !
If you are referring to China, I don't think you have an accurate picture outside the portrayal of the main stream propaganda. There is a huge(and growing) middle to upper middle class in China ever since the 90s. Majority of this class own multiple properties as most Chinese are very investment conscious.
@@elvameadows then why does a majority of the population live in flats stacked on top of each other. Why do a lot of them have to save so much space their bathroom sink is in their toilet. You only see that in prison here. When you say "mainstream propaganda" you realise it comes from both sides right ?
我们中国没有想要与美国争夺“世界第一”这个称号，我们只是想要安稳的发展，守护领土完整，走好自己的路。而这一切正被美国所阻碍，看看近些年来美国及其走狗对我们的制裁，我们别无选择只能迎难而上。即便如此美国还会说中国威胁美国的地位。
Discussion is about China, but the China 'expert' is from west. Don't need to waste your time.
The west is full of smart eleck
Make sense
Makes it most likely bias huh. "No, China is bad, we must do something about them" blah blah.
@mudshovel 289 that wasn't the 'gotcha' you think it was
@mudshovel 289 got em 😂😂
I really want to question some of those who call themselves experts in China from the west. How much do they know about China? How long do they study China's history and its people? Did they ever live and work in China? What kind of sources are they getting about China from? China is the model of the developed countries. How to improve the livelihood of its citizens, especially getting rid of poverties.
Is it? Yet it is far poorer and less advanced than other countries that began industrializing at the same time. Taiwan has GDP per capita twice that of China and farrrr more advanced industry. Same can be said for Korea. They also have representative government and rights as individuals. Seems they are the true model for developing countries.
You're just Chinese and you don't want the truth.
@@beastmode8203 What is the truth? You can't handle the truth. The only truth is the so-called news came out from the west's media, full of hate and twisted, negative, lies. Did they ever report or show how China is? Do you know the true meaning of FREEDOM and DEMOCRACY are represent?
@@robertwong2218 no these are actually pro-china people a lot of them or hedge fund workers and businessmen and everyone saying the same thing. The leadership of China is hardcore leftist communist and he's implementing more Marxist ideology into his economy knowing that slows down the economy. Don't be angry when that 5% turns to 2%.
@@beastmode8203 In simple terms. You have your way of life in the west, and we have our way of life in the east. You don't like our political system, and we don't like yours.
Chineze people are very innovative and creative..., lived and worked in China..just my opinion.
Western people always has this myth about only “freedom” can think. Frankly it’s reverse because too freedom to not think. Imaging when you’re in a school without any exam.
@mudshovel 289 Most of them that's why the are leading in creativity
Anyone who isn't aware of what a catastrophic financial mess China is in has simply not been paying attention. China is totally fcked.
@mudshovel 289 the problem with the creativity argument is actually certain economic systems I for some reason can't Mention without getting censored, one starting with SOC. and one ending in CAP. Have you ever seen a Chinese or Russian video on RUclips with 800million views ? Have you seen the new blockbuster film from Russia ? No. Do you see things made possible by very rich creative people like the UFC or ....... Jordan shoes ? It's not because theyre less creative, it's simply not possible with the limitations their economic system has.
@@brandonperry9209 young man, try to watch russian film posrednik from 80s
All this man made mess actually gives me hope!! Nothing will bring us Americans together faster than talks of war against our country, we are patriots!!!
Well said!
The USA is insanely competitive, and one can see the fire already lit under it.
The way to go about it though is to partner with India. As well as other nations, but India has the biggest capacity to affect China.
The heading is totally wrong, in the last 30 years, China has been outpacing America and the West, from two digits to one single digit. If IMF and China 's own estimate is right, Us will have l% GDP, while China will be at least four times more than America, while Germany will run a negative GDP. and so is Britain. Chinese people have one of the highest saving rate. Just right after the suspension of zero COVID policy in China, the government reported a over $1 trillion dollars of bank deposit, a record of money deposit.
China has more than 4x the population of the USA yet has a lower GDP ...... So how does your statement make any sense ? A 4x larger country should have a 4x larger GDP to even be equal. GDP isn't everything, China has better spending power within their own country, but that doesn't mean much when it's not possible for them to build all this stuff without importing goods and resources from elsewhere. Also the spending power isn't 4x greater so still there is no comparison. The USA owing China essentially means nothing when you consider China is reliant on the USA as well.
Good that means China people wont suffer so much when more companies pulls out of China
@Bif Stiff yeah they do
Anyone who isn't aware of what a catastrophic financial mess China is in has simply not been paying attention. China is totally fcked.
@@coraltown1 I'll say it again hahaha everyone seems to focus on GDP and forget about a 400% population difference and think they're getting somewhere. It's like..... Okay you 4 guys have a little bit less many than I do myself when you put yours all together. Even if all 4 had more, I still have more than each one. If most of your population rides bikes or public transit to work and lives in brick Flatts that all look the same, you're simply not winning.I'm sorry.... You will not really see any people riding their bike to work in the u.s. if you do they're either going through rough times or are 15 years old. I'm sure someone's going to think " yeah because Americans are lazy". But I'm sure people love riding their bikes places in freezing weather don't they. I don't want it to be this way. I'm not bragging...... just telling truths
'The travel industry is taking off. Apologies for the poor metaphor...' How nice to hear a speaker present such a balanced view but also show such sensitivity to language.
According to the IMF, China’s GDP surpassed the U.S.’s in 2013 in terms of Purchasing Power Parity.
Anyone who isn't aware of what a catastrophic financial mess China is in has simply not been paying attention. China is totally fcked.
🇺🇸 what does the USA offer?
An aging population, lazy workforce, daily mass shootings, mass homelessness, drug and alcohol-addicted citizens, poor Healthcare, poor infrastructure, poor education, the 1% welfare wealthy, middle class disappearing, war and more war, enslavement by debt of its citizens and abroad. PONZI ECONOMY AND FIAT DOLLAR! FAKE MEDIA, GOOGLE, MICROSOFT, META,
QUALCOMM, CISCO, INTEL ARE ALL US GOVT TOOLS FOR SPYING!
Vs
🇨🇳 CURRENCY BACKED BY GOLD. Peace, highly educated engineers, AWESOME INFRASTRUCTURE, ENTREPRENEURS, AI, ROBOTS, SAFETY, and TECHNOLOGY, WIN-WIN FOR EVERYONE! THE FUTURE! THE PAST.
Soon GDP nominal
US economy is said to $$ 24TRILLLION US DEBT IS $$34 TRILLIONS DO TECHNICALLY US ECONOMY IS NEGATIVE $$10 TRILLIONS.. AND THAT IS FACTS.. worst in the World!!
Larger GPD is not a good measure. It’s likely China GDP will surpass USA because its population 4X of USA. However, people in China will still be poor. They will still feel insecure.
President of Malawi looks like a well spoken man and stands for his people also looks like he went to school in America with the way he talks. Am I the only one?
Japan from 1985 to 1995 Quadrupled its nominal GDP while it grew on average 3% per year.
Do you know how is it achieved? By appreciating the Japanese yen by 3 times.
So for those who says China's growth has stalled, either skipped economics 101, or are simply lying.
China still have HUGE growth potentials, especially as Chinese industry move up the economic ladder, and Chinese yuan appreciates against the dollar.
In fact with the right monetary policies, China will triple its GDP by 2035
This will only achieve only if Xi JinPing step down or the CCP falls and China went into a democracy liberal society system of government.
But Japan is stagnant for the last 20 years.
China is bound to head downwards, just ask anyone in the labour market. By march 2023, 25% of the graduates from Sep 2022 has landed a job per some estimates. We can't know the exact number because it's incredibly opaque, but the housing market transaction volume is down by 80% in some cities e.g. Suzhou, Xiamen, Tianjin, Dalian, Jilin. Next logical step is the bursting of housing bubble which accounts for >50% of local government funding.
China is good at sugarcoating gloomy situations, so don't take it at face value
Also if you think China is gonna triple its GDP by 2035 then you need to reassess. That means 9.6% average nominal GDP growth rate for the next 12 years, yet China's official target for 2022 was 5.5%, and it's targeting just 5% for 2023. And can you guess what the actual GDP growth was for 2022? 3%! It was 3%, in an economy that traditionally has a tendency to vastly fake their numbers!
@@cat-.- Japan quadrupled its GDP from 1985 to 1995 with an average growth rate of 3%, This is a historical FACT.
You do not understand how nominal GDP works, it's based off of exchange rate, as much as an increase in value added to the economy.
As RMB rise in value, China's GDP will rise exponentially, this will be coupled with China's shift into a consumer society and getting rid of low end industries.
Shifting into high end manufacturing and service economy.
It you are so afraid that China would outpace US, then, I would say China will never outpace the US. Happy now? I do not expect such stupid question from Al Jazeera. Just simply look at what the US has been doing lately and anyone would know America had lost the competition. When a competitor resolved to pulling opponent's foot rather than running faster indicates that he had already outpaced.
I don’t know, kinda seems like the US has been having a lot of success containing china and turning countries against them. Seems like they are winning to me.
China's economy will not reach 5% as they believe and in the next four years if they do not get over 8.1% growth they will not surpass the United States.
@@beastmode8203 Possibly, because China under Xi has been committed economic suicide. But in the long run, it can still overtake the US. The different of the mind set is that while China is working hard and trying to improve it's living standard but the American is worrying someone overtaking. Furthermore, instead of improve competive, resolved to play dirty tricks and pulling legs.
Soo according to this gentleman, we are good at physics, but bad in poetry? Good to know.
Yeah what he said sounded stupid.
Anyone who isn't aware of what a catastrophic financial mess China is in has simply not been paying attention. China is totally fcked.
@@coraltown1 they have been saying that for the last 20 years.
Just typical Wishful thinking.
Recent reports claims China's manufacturing is growing faster than it has ever grown in 20 years.
Which, contradicts the claims suggesting china is collapsing.
lol!
Actually, the rise of China in world arena as a leading power is irresistible , indeed. By mediating between KSA and Iran to re-establish the diplomatic relations, China has emerged as a leader in the politics of Middle East. From the very inception of its civilizational journey, China has been acting as obscure country in dealing their daily activities towards outside world. That's a problem to other countries. But, accountability and transparency must be highly prerequisite matters to be a leader in world arena. We should circulate the peaceful co-existing environment in order to live with love and progress as well. Thanks Al Jazeera 💚
Seeing here from India, although we have border issue with China, I would still support China anyday than warmongering, cunning and colour shifting USA, US and NATO is simply causing all problems in the world. I hope BRICKs counties becomes more powerful 🇨🇳🇮🇳❤️
lol 😂 sorry but countries don't run on emotions ... I m also an india .... usa & west is doing that for thier interests ... and no country cares for others interests & india's interests aling with west .. Actually middle east and western nations are doing sounding trade with india unlike china & south korea ... people of these countries are not very open for companies of other countries ... and everything revolves around trade ... so we can't blame west for everything.. & i don't think you are indian either .. 🙃
Acha? India s h na bta konse state a ha, aur h hindi m boli
50 cent chinese bot
And you think China would not be worst if China was in the US position?? A country without freedom is death among the living because no freedom in China .
In order for bricks to work they got to decide which country currency bricks will base on. The only country in bricks that do not print money like water or not in major depth is India, but I think both China and Russia will be again it
@@khanhnguyen-tt3ff can you provide a link to where the BRICS monetary will be based on?
All Muslim countries must try to work with China and Russia and iron out any political or economic differences of mutual agreement because the future is here.
You will just die with them when we go to war with China.
A world dominates by all the authoritarian regions is not a world we free people want, hope Democratic countries will work together to protect our democracy & freedom.
@@freedomlife3623 And you are from where? The world is not black and white grow up
@@freedomlife3623 by Democratic countries, you mean white?
@@thefarleftshow1285 Nope, Taiwan, Japan, even Singapore are few examples in Asia. So stop play the racism game.
US ban and restriction on technology export to China will help the country's innovation, as China has to rely on herself, as a matter of fact, China has already pour more investment on the research and innovation, therefore, US current policies are a wrong strategic move.
When someone realizes he/she is lagging behind, instead of looking inward and endeavoring to locate the source of the problems and strive to be better, the first thing he/she does is block all resources available and gang up with others to make sure the runner-up doesn't get support elsewhere.....and he calls himself fair and just. This is how the world is teaching our children.
China has already spent 240 billion and is over a decade behind in chip design and manufacturing. They literally do not have any of the necessary industries or technology to make EUV. They will be stuck with 20+ nm processes at least a decade all the while the gap increases.
@@Tounguepunchfartbox Is this another one of your copey delusions? Do you need me to embarrass you here again as I did elsewhere?
Maybe 3030
The President of Malawi such a fresh breath to the international politics. He is so an intelligent and concern about his own country and his people. 👏
That's a strange question for a headline: "Can China's economy outpace the US"? What economy does the US have exactly? The US exports fiat dollars, debt and war, they don't make anything. Meanwhile Asia makes everything and Russia supplied the raw materials and energy for the world to make everything. Perhaps this question needs to be examined from a different point of view: "Would the world suffer without the United States, in any way, shape or form"? What would the rest of the world have to go without, if the US was isolated economically and militarily from the rest of the world? What would the US have to go without if it was isolated economically? In all reality, what does any of Western Civilization or the Global North, at this very moment, provide the Global South or rest of the world? I think it's a valid question from this Canadian.
Chyna virus at best
Lol your country would be screwed quick.
Did I hear this right? He said that the chinese is not as creative as Australian Think Tank?? What creative products that Australia have that Chinese dont have?
No, he said "China is not as creative as Australian think tank thinks."
@@elliekwong3180 They say, tank that is empty sounds louder.
it depends on who is copy who.
Why hasnt the documentary on Zimbabwe been released dear Aljazeera
Sir..aapne inke 4500 contingency liabilities ke barein me kuch insight dijiye. Is it good or bad.
I fail to understand why China becoming a bigger economy than the US is so bad? I mean militarily the US will be superior for a long time. The US has cooperated with China for several decades. China will still depend on the US, India, Europe and other continents for its economy. Is there another reason or is this just Zero sum game nonsense?
Yea yes exactly, wish I can but you a drink.
They also relied on China. They have no resource to make things. Only China can do. If China fail, everyone in normal life will suffer around the world.
@@MrGanbat84 China imports raw materials, be specific cause they lacking natural resources.
@@MrGanbat84 yea because everyone decided to rely and invested in China,before then everyone was still living a normal life.
Total export to the the whole world only constitute 17.7 percent of china total gdp in 2020. Thats the answer
It will very very soon
Did I just hear BBC chime at 8:23 in aljazeera program
debt relif means deepening the burden by providing momentary relief
80 percent of international business is done in US dollars. 74 percent in Asia
The imperialist country USA has been in decline for the past decades.The middle class which was 65% thirty five years ago is now 45%.🇺🇸 rates the last place of all the industrialized countries in social justice, it has no comprehensive health care system, no maternal leave (its unpaid) no wright for vacation etc.
what the heck are you talking about, as an American any decent job comes with health care, maternal leave and vacation. Keep dreaming bro...
@@skipperson4077
Bro, no U.S. federal law provides a right to paid family or medical leave.
Americans workers are entitled to up to 12 weeks of UNPAID vacation via the federal Family and Medical Leave Act.
There is no federal law regulating paid vacation minimums. This means that it's up to state laws to regulate and more often, up to businesses. In Germany were I live there is no such thing as decent or not decent job. Everyone who works is entitled to sick paid leave, paid 30 working days six weeks vacation, this is a federal law. You are just a corporate media brain washed American who believes America is the greatest, and totally ignorant of the wrights of workers in other industrialized countries.
.
@@nesanetlehulum9046 point-by-point 'declining American middle class' I believe you are comparing to 1950s America when we were the only large country not directly devastated by world war. Lacking competition American factories did quite well. 2) curious how you quantify social justice but I don't feel like America is not addressing social justice, or that members of my community are particularly 'put-down'. We have inexpensive community colleges and if you line up with an in-demand trade, it's free and with job placement into jobs that pay well enough to buy local houses. Local unemployment is so low that businesses that don't offer good pay and benefits lose their workers and it's notable that the lowest paying jobs have seen the greatest increase in pay. I personally support a comprehensive health care plan for the US but many Americans do not.
I question whether the European 'socialism' is sustainable. I admire that the wealthier parts of Europe have 'birth-to-grave' social benefits but note such benefits are currently being 'reformed' and a strengthening in right-wing parties in Europe. I don't support such broad federal measures as you mention, too broad-brushed, too many different regions of the US, different circumstances. America, like anywhere, has its good and its bad. I don't think "it's the Best", I think 'it's good'' and there's a reason lots of people want to become Americans.
Questions for you living in Germany: Do you miss East Germany and the Stasi? Why are Germans so complaintive and the customer service people seem to not like customers? My time in Germany was brief and mostly in-transit but I didn't exactly feel the joy and specifically had some bad experiences on Deutsche Bahn.
@@skipperson4077 I recommend that you watch On RUclips entitled "The Horrific State of USA Empire" by Chris Hedges and then get back to me. By the way I have lived in the USA and attended college in the 70s
and I am a naturalized German citizen, not ethnic European.
At least we're not China LOL. Also, everything you said is complete bullshit. Americans have ALL of that. I even have free healthcare though my job. Foreigners are so stupid about the US.
China💪
Anyone who isn't aware of what a catastrophic financial mess China is in has simply not been paying attention. China is totally fcked.
Being number 1 is not very meaningful for an overpopulated country with no food supply security and no energy supply security.
Not if or can but when.
great news
Wooow new powerful economic
As a Chinese living in US for around 1 generation, i should say first the way of calculation GDP for both countries are different, China is mainly focusing on the manufacturing, yet US is mainly based from service Industry, China made 26 million cars in 2022, US made 13.8 million, and China has ranking number 1 in car production since 2009, U.S. health industry contributed $4.1 trillion towards GDP, about 19%, China uses 0.7 trillion, merely 4% of GDPs, there are average $300K for a house sold in U.S., yet you pay 1-4% property tax annually, which equals that you pay another $300K in 13 years even you own and have 0 balance on mortgage if you lived in a state like New Jersey where I live, yet, if you own a primary residence in Shanghai, which cost 1 million us is regular, you pay 0 property tax to own it if 1 person resident has equals or less than 50 Square meter per family, namely , you have 70 years of property ownership, yet you pay only a very little fee to renew it when it expires, much les than 1% of your property value, I paid more than $1500 for health insurance coverage a month in Us since more than 20 years ago till now, but it costs $30 a month in China, now everyone is covered even dirt poor farmers, they pay 1 dollar for health insurance coverage or even free, so that contributes to a longer life space of 78 for average Chinese, 2 years longer than US. yet talking about technology development , a recent Australia ASPI think tank foundered by US department of State recently published a paper after 1 year of research,there are 37 categories that China outranks U.S. among total of 44, and ranked the second for the rest 7. The Moody estimate of 2023 China GDP growth rate is 5%, it 0.9% for US, so not only the way of GDP calculation is biased from different methods, but a apple to apple comparison of the real growth rate itself, China is catching up faster if you add on inflation, us is 6.4%now, which puts their GDP growth into negative territory, yet it’s 2% for China, which make the GDP gap narrower in reality term. More importantly, survival and prosper is a game, there always be 1 champion in the end at ll, you can not become a champion by blocking, sanctioning you rival, you may slow it down a little, but you need to be stronger yourself in the end even there are 60 so call allies to help you to block your rivals, US have been banning China for space cooperation since 2011, yet China has built its own space station by itself that US cannot afford, plus their own individual satellite system
, and developed supersonic weapons, that US claimed they are stolen but us is still just tested let along deployed such a technology. The current semiconductor ban will end up the same, slow China a bit, but fail in the end. Currently, China graduates six times as many engineers each year as the United States. 5% GDP growth is a around $900 billion annual increase for a $17.8 trillion of Chinese economy, it will take a $3.4 trillion economy of India 25% annual GDP growth to barely catch up, let along its a 5.5% annual estimate of this year, the gap simply is getting bigger and bigger and it equals a whole year of Saudi Arabia GDP.
2023 projection :
USA : USD20trillion GDP growing at 1.5% = Incremental USD300billion
China: USD16trillion GDP growing at 5%
= Incremental USD800billion
So which country is growing faster and narrowing its gap ?
The reclamation has begun!
The us economy is based on opec oil. The us has a trade deficit of a trillion dollars a year. It has a budget deficit of a trillion a year. And it's main exports are military material. Foreigners don't really need dollars if not for the fact that you can buy energy in dollars. If opec starts to accept other currencies or stops accepting the dollar as payment, things can get really interesting...
You must admit if you Take the u.s. economy out of the equation, the economy of every country on earth will topple before maybe being able to get built back up. Either you slowly take it out of the equation while working on building up your own infrastructure and systems, or do it at once and have a a quick swift depression built with a fresh start to rebuild. I'm not with or against anybody, this is how I see it.
@@brandonperry9209 yeah not not including the USA and the west control most of the lever in the banking sector, shipping, mirco chip ,satellite GPS and internet
@mudshovel 289 people act like other countries can't buy oil or don't have oil there. If you can't extract it or there's systems in place where it's harder, that's all on you. People also fail to realize that while China and Mexico and all that is making all our stuff, it's 100% reliant on the u.s. to buy it back. That's not even getting into the systems and planning and innovations being sent there, used to make something, and sold back. It's not our problem you have systems in place in your country to where we can take our companies there and have you work for cheaper while they are still getting paid more than what they would have. Fix the problem then. I'm not against the east. I'm rooting for you, fix the problem yourself and stop blaming us. The problems are in systems and infrastructure, politics, economics, civics within that country itself, not suppression.
But US has got very entrepreneurial people that drives innovation while ccp is clamping down their OWN people on purpose to exert more control. Stupid
The US economy used to be based on opec oil. Ever since the shale revolution, the US is an energy-independent nation. That doesn't mean the US no longer buys opec oil, of course. It will continue to buy opec oil when oil prices are low because opec can produce oil more cheaply than most shale producers can. But whenever oil prices rise, more shale oil comes online. More importantly, opec can no longer cut the US off from oil entirely. Opec can only cut the US off from cheap oil.
on one hand I hear GDP growth, on the other hand I hear economic sanctions. sometime spoken in the paragraph.
Are printed moneys be legalised in same rate among the Bricks Nations with no gold deposit ?
What a stupid question. Besides making weapons, money and a few cars the USA makes absolutely nothing meanwhile CHINA industrial base is bigger than the USA and EU combined...
And what those china make, industrial base?
Not for much longer...
I hope one day Yemen will be one of the most economical countries in the world 🌎 just like China
InshaAllah 🥰
I disagree with what he said about the US having an advantage with creativity.
First of all, if the CCP's level of control had a negative impact on China's creativity, china would have never became a global leader in most of these critical technologies.
In 2018, china graduated over 500,000 scientists and engineers.
The United States graduated 58,000 scientists and engineers.
Logically, this means china will always have an advantage when it comes to creativity, knowledge, science, innovation, etc. Because there are significantly more people in china who are way more educated than most Americans.
The US cannot compete.
Hi Chinaphobia,
China tops the world in patent rights since 2019.
@mudshovel 289 Yes, but as the Asian hatred keeps rising, Chinese elite scientists may reconsider going to the US. Plus, they don't welcome Chinese engineers in some sectors already. That'll be good for China actually. Let them build something better in China.
The problems is soc. And cap. And we all know it. Don't try to be modest and deny it..... I've never seen a..... "Eastern" RUclips video with 800million views or that new Russian blockbuster film that just came out or seen those cool Ni Ki ghengz 11s...... Obviously they are as creative as the west ... It's just not possible. Something like the UFC would never be possible because people like Dana white there is simply not possible. What are you going to do, have a vote if you all want the UFC then tax people and all create a UFC ? And it's basically a fact universities and colleges don't create creative people but actually quite the opposite and create good workers for corporations. so graduation rates mean nothing. The most creative billionaires the west has to offer never went to university and if they did would have never provided what they did to the world. A scientist and engineer isn't creative. Intelligent, but they're not going to be providing the world with songs or art or entertainment. They're going to systemically do their job as they are trained to do. I don't know why people never want to think outside the box and look at all the factors before making an assumption. If you wish it comes to a point where all the east is offering is technology but have to all work in factories while we provide them with entertainment and creativity and all that than keep thinking the way you do.
@@brandonperry9209 China has 12000 new start ups every single day compared to usa of 2000. Go figure what means.
@@71Hamed it means China is on it's way up. Good. I wish to see them succeed as I do India, Russia, Brazil..... Every country in the world. Quality and quantity is always a factor, however. I'm not saying anyone's quality is better. I'm saying you go figure yourself, because it can mean 100 different things. As far as I know the only difference between a USA startup and a Chinese startup is the owner would be eating spaghetti noodles instead of rice.
I hope we can rise from the realm of competition to the realm of cooperation.
we did. until China decided to be greedy with land and water.
The moment other countries start to catch up: no competition, yes cooperation pls
Americans were spoiled to reject any competition, if someone is catching up, trim him up.
🇺🇸 what does the USA offer?
An aging population, lazy workforce, daily mass shootings, mass homelessness, drug and alcohol-addicted citizens, poor Healthcare, poor infrastructure, poor education, the 1% welfare wealthy, middle class disappearing, war and more war, enslavement by debt of its citizens and abroad. PONZI ECONOMY AND FIAT DOLLAR! FAKE MEDIA, GOOGLE, MICROSOFT, META,
QUALCOMM, CISCO, INTEL ARE ALL US GOVT TOOLS FOR SPYING!
Vs
🇨🇳 CURRENCY BACKED BY GOLD. Peace, highly educated engineers, AWESOME INFRASTRUCTURE, ENTREPRENEURS, AI, ROBOTS, SAFETY, and TECHNOLOGY, WIN-WIN FOR EVERYONE! THE FUTURE! THE PAST.
Oh dont forget the realm of destruction😮
Great title- what is the cost YOU are willing to bear???
Africa need to get rid of dollar Petrol first before moving forward.
if they spend less on military than the US then yes they could outpace the US. As the US still funds the defence of almost all western democracies - and that is a big bill!!!
With a big population of china, it's economy will out pace that of USA in years to come, but standard of living in all aspects it will take over 50 years to reach that of other developed countries in G7
50 years behind...the G7 can't even build a space station by themselves. G7 has been taking advantage and ripping off the undeveloped countries for the last 5 centuries.…that's is very proud not!
I think Chinese living standards are already higher than here.
Do not use dollars to measure the standards. Use what they actually consume.
Have you been paying attention to the news? China is a demographic disaster! It is going to age faster than any other country so far!
@@ArmageddonIsHere at least tell that to the person who has never been in china, yes the economy is growing but at the expense of the lives of poor Chinese. Chinese citizens have poor standard of living I say it from reality. Out of 1.4 bn people at least 0.4bn people live comparable life, the rest is just an abomination. Don't tell me the bigger economy when people live miserable life. Taiwan in terms of people's standard or way of living is incomparable to that of china, far better off so u might be a citizen of china but in reality your still behind
Have you heard of a country called “Germany”? What’s Germany current gdp growth in 2023? Certainly not 5%
Why does Malawi’s president have a southern accent?
Mega farms and mining doesn't fo with tourism. Think environmental degradation and there goes tourism.
Does the host understand percentages?! Does he understand 5% of USD 30 trillion? He's like "ah, see not 10% -- double digit growth for China is well and truly over!"
As a Chinese, I would rather say that the AU newspaper's analysis is a bit exaggerated...
A Australian think tank.....????
lol!
The writing is already on the wall and many in the west are still swimming in the Nile river.
Not anymore
No
Cybernetic mapping and the fulfillment of national capabilities. What is the world going to use social media for?
Kalesh kalesh aur kalesh 🙏
I doubt it they both depend on each other China has large employment rate, as well as United States
Medical bills alone account for 20% of American GDP. And Americans' life expectacy is shorter than Chinese!
As a Chinese, I feel sorry for Americans.
Us is cutting there own leg. Many county now trading there own money cutting US dollars
RULES : A WAR WIN BY GUTS.
ECONOMY IS NOT EVERYTHING.
It goes without saying that as an economy matures, it cannot sustain high GDP growth rates. China is no exception.
However, even as a mature economy, China is going do spectacularly well in 2023 vis-à-vis USA (1.4%), UK (-0.6%), France (0.7%), Germany (0.1%), Italy (0.6), Canada (1.5%), and Japan (1.8%). This is according to IMF projections dated January 2023.
Mortal combat has started
Aint happening anytime soon. To name a few, China is experiencing the following; an aging population, a real estate market crash, a looming unemployment crisis as loss of manufacturing jobs due to repatriation/transfer of production by multinationals mounts etc.
If China is really leading in Machine Learning, how comes many major AI breakthroughs emerge in US like alpha go and chatgpt?
Not really, many of these measurements are measured by the total amount of patents. This system is prone to governments deliberately propping up numbers, or just putting out useless or already existing patents.
Because English news never talks about China's achievements
@@haodeplorable266 what are those then. Even China's news talk great length of alpha go and chatgpt, as a topic in the most important political annual meeting recently
@@haodeplorable266 What are you talking about, the only think the west has heard about was the rise of China for the past decade. Especially amongst proponents of the BRICS (which are all western bankers).
All Muslim must try to work china.i hope we can ride from the realm of computation to the realm of corporalation China is super power country
Forgot the Uyghurs?
What 5% is low... Excuse me...
Weapon, Oil, Dollar
America's vitriolic politics have disturbed the world. Maybe the trust has degraded, and why stories like these offer comfort.
Answer - no
Old men talk about how youth should do..
only 5%?excuse me,what's your country's GDP grow rate?
There is a lot of salt in this interview.
That is doubt free` China will come as a world leader,
Creativity is the greatest strength of the Chinese. Australian think tonk knows nothing! 😂😂😂🤣🤣🤣
Is there a typos of tonk, actually, is "thongs" ?🤣😂?..
@@tien7742 There we go-Australia majors in thongs-Australian beaches don't lie.
The IMF, an American institution, has forecasted for 2023, for GDP growth
China 5.2%
USA 0.5%
Russia 1.5%
UK. - 0.6%
Putin must be laughing, with the russian economy growing but the uk economy shrinking.
The other Indicators are also telling
Inflation
China. 2%
USA. 10%
Europe. 10%
Off course only a matter of time. If China replaced with government in Taiwan had their GDP per Capita close to 38000 dollars a year economy close to 50 trillion dollars.
Consider the number of industrial sectors that Taiwan has excelled in to attain its per capita GDP, and then reflect on the magnitude of industrial sectors that China would need to lead in order to reach a comparable per capita GDP level for its population of 1.4 billion.
@@bpeng2000 Would take very short time to accomplish that. China's golden time is about to come. If you look at Huawei, TSMC, and to few of biotechology companies and how quickly they have innovated (Electric rocket by Taiwan Freshman college students) to their status. Also, plus the share magnitude of a free democratic china. It is essentially like USA in 1850 to 1914 a golden time for USA.
All the techies stuck in their rooms on lockdown will probably have loads of good ideas, so once they open up they all get these projects started. You get this effect in wars. GDP dips at the time, but rebounds as investment is delayed, not cancelled.
Spoiler Alert: NO. It has been well documented
I hope do india ad well
It's all political and economical compounded by nationalism and interest .
When people talk about China overtaking the US in terms of GDP that itself means nothing. US will still be more prosperous and influential nation. India has a higher GDP at the moment than the UK 🇬🇧 how is that helping India 🇮🇳. What matters is how developed the nation is and the technological progress. China has no semiconductor industry to rival the US so the Australian Think tanks have no clue what they are talking about. Every advanced Chinese technology from AI to quantum computing is using US designed chips and somehow China is ahead of the US in these fields. That is absurd and CPP propaganda at its best.
When it gets tough the Chinese get going.
Bill Gates.
The Chinese can make 28 nm Chips and is self sufficient. They are on their way to making 14 nm and soon 7 nm. Dont worry. China will catch up. China is already moving away from silicon where they are leapfrogging the west.
中国只是被制裁没有制造芯片的设备，中国设计和生成高端芯片，从来都不是问题
@@fitnessleague909 then why they complain about banned in chip export.?
Lol😂
How can you tell if China is outpacing anyone? They don’t report figures when the figures might be inconvenient, and it’s difficult to confirm the accuracy of the figures that they do report.
ASPI did a report and -surprise!
Sorry, wrong question.
LoL, If you lived in the US you would know the corps own even your ideas and wont let it be used by anyone, even if it could help a lot of people, unless they have full control and think it will help them and make "them" rich. No free thought and the education for the public is so bad most people don't have the info to put good ideas together, and if they do, the Corps will take it.
Unfortunately-sad that.
Why is a western economist talks about Chinese economy. What does he know.
US GDP would have contracted much more in 2020/21 if not for the trillions of helicopter money lol
This is inevitable
China's full vaccination rate is 91%, much higher than in USA (68%), UK (76%), France (79%), Germany (76%), Italy (80%), Canada (84%), and Japan (82%). So Douglas McWilliams is wrong.
But first the vaccines need to work effectively. Right now the Chinese vaccines are not better than simple salt water...😂
lots of people here - white guy has no place talking about China but I'm a non-American talking all kinds of smack about the US economy...
if you believe that, change all your money into Yuan. IMO PBOC is backstopping all kinds of debt and yuan is likely headed downward despite the CPC best efforts. Xi's 'leadership' is idiotic compared to Dengs 'shut up and make money' approach.
I can't speak for the whole US but I'd say where I live we have historically low unemployment, an economy balanced between industry, agriculture, construction and tourism, actively importing immigrants. The biggest problem is the increasing cost of housing, which is hardly a sign a weakening dying economy.
China already surpases US in all sectors, US only depends on exporting papers as the world currencies
That is a lie
the way how china is going, in 10 to 30 years from now. china will never catch the US in national wealth. also china's demography is the worst in the world. GDP is outdated, it was made during the height of WW2, when most countries were doing production for war. it wasn't long ago that the UN created something that describe a countries wealth and over money from everyone and everything and not just products. called inclusive wealth! in a nutshell, inclusive wealth represents economists most systematic effort to date to calculate a states wealth in a way that is better then GDP. it solves the problem from only using GDP...GDP only measure the flow, where as inclusive wealth measure the stock, china's quarterly profits are high but the balance sheet, well its not! as deep as the US. because inclusive wealth measure the pool of resources a government can conceivably draw on to achieve its strategic objectives, its the more useful metric when thinking about geopolitical competition. when calculating inclusive wealth you consider several things. manufactured capital, like roads, building machines and equipment...second is human capital, which is the level of skill education and health of population...last is the natural capital of the nation like oil, arable land and with these three, you get a better picture and a more accurate measurement of an economy of a country and its strength. the USA inclusive wealth is ~144 trillion dollars, china in comparison is ~ 32 trillion dollars. so china is FAR behind the US. even what china has at the bank, the US is significantly more already.
Please stop asking the people question that investigative journalists like you should be doing and then report to your viewers
Stop following other news outlets because All Jazeera comes out with stories that's in the news days or even weeks already
It only shows you follow what others say
This is China's century
Has he heard of California? Look at the cost of living California vs Shanghai! Look at the living standards in America vs China…. Chinese live longer
Source Harvard Health
Stupendously over optimistic, at best
ㅡ(언어단일화ㅡ잉글리시) & (화폐단일화 ㅡ차이나)
The CCP assumed that, as the self-proclaimed "workshop of the world," it had some special, unassailable role in the global market. However, of the steps in the production process-idea/invention, design, fabrication, assembly, shipping-it was the center of only those last two steps. The first three are all done outside the CCP's domain; those final two can be done anywhere, and companies are quick to demonstrate that, given the CCP's incompetence, instability, and draconian, repressive activities. The CCP's repression is also why it will never produce ideas, inventions and innovations.
India wants to step in, and will.
@@ArmageddonIsHere Awesome!
Whether you believe it or not China is the richest country right now.