CASS: China's GDP surpasses US by 2020

[foxbat]

In 2010, our GDP is 40 trillion yuan, and we can easily triple it by 2020.

With 120 trillion yuan, and a ratio exchange of 6:1 with USD, that is about 20 trillion USD by 2020.

And India projects their GDP to be around 6 trillion USD by 2020.

triple in 10 years.. meaning a sustained growth rate of 11.6% from 2010 to 2020... Hmm.....

 

[tanlixiang28776]

triple in 10 years.. meaning a sustained growth rate of 11.6% from 2010 to 2020... Hmm.....

Its not that simple. Chinese yuan is appreciating as well compared to the dollar. In PPP terms China is already 10 trillion.

 

[Aramsogo]

Its not that simple. Chinese yuan is appreciating as well compared to the dollar. In PPP terms China is already 10 trillion.

Yuan could be 5:1 tomorrow if China wanted.

 

[scuthan]

Concrete cannot be recycled. It is a composite ceramic that is resistant to almost all forms of both chemical and physical degradation. You can't burn it, it is inert to acid, base, oxidizers, solvents... you name the chemical process, it doesn't do anything to cement. it doesn't melt, and its extremely tough. If a building goes up in cement, the only way to get rid of it is probably a controlled demolition.

Actually, concrete can be recyclable. it is a common practice to crush waste concrete structure and stripe the steel from it. concrete pieces can also be used as aggregate in new concrete structure. lots of people are working on that,

 

[Obambam]

It could also mean that America's economy is going down the sh*tter. Party will be over in the West when America goes down.

 

[below_freezing]

Actually, concrete can be recyclable. it is a common practice to crush waste concrete structure and stripe the steel from it. concrete pieces can also be used as aggregate in new concrete structure. lots of people are working on that,

Seems very energy intensive to do so though. Concrete is tough, it resists combustion, acid, base, oxidizer, reducer, is physically tough, doesn't melt and is made up of what seems to be inexpensive materials. should just demolish right?

 

[ao333]

Seems very energy intensive to do so though. Concrete is tough, it resists combustion, acid, base, oxidizer, reducer, is physically tough, doesn't melt and is made up of what seems to be inexpensive materials. should just demolish right?

You produce cement from demolished concrete. They can ONLY be recycled as the lack of carbon in its molecular structure prevents it from being transformed into another substance after combustion; other impurities are then removed during its liquid form and it cools back to normal cement. The process, nevertheless is an extremely energy intensive aspect of the cement industry.

In numerous low-tech impurity removal processes, the cement cools back down to a grade lower than its original. In these cases, they're incinerated into bricks coupled with low-grade soil. These bricks however, are not quake-resistant nor able to withstand pressure above 2 floors of a flat. They are often produced by farmers who're sold cheap cement and soil to build their own 1-2 floor flats, like many farmers like to do in China and India.

 

[SAUD-404]

There was a British article that predicted China's GDP to become number one in the years in between 2017-2019.

Why are you all trying to Predict exact date for being number 1, The fact of the matter is that China is about to be counted as develop country congatulation to China
中国万岁
WOW. and Btw in our Business news channel today, I have heard that our economy has started to show some progress in this year ,so Count us in this race for developed countries too we are also awakening

 

[Bizarre]

Hmmm isn't 2020 too early??

 

[marshall]

Why are you all trying to Predict exact date for being number 1, The fact of the matter is that China is about to be counted as develop country congatulation to China

China is no where near developed country status. China is so big that its sheer size inevitably creates large pockets of relatively developed affluent areas that are comparable to the most developed countries. However, as a whole, China should be considered on par with countries like Thailand and Brazil. Within 10 years, China will have every trapping of the most advanced, richest developed country but will still be developing. Even if China had a per capita GDP of $50000 today, it would be considered underdeveloped by certain ideologically driven characters who consider non-democracies as backward. From this vantage, the so-called status of "developed" really has no meaning because having democratic government in its most common form of MULTI-PARTY democracy is a sign of primitive mob rule by others. Let's hope that China never evolves towards this sort of disaster and achieves a future governmental style that can serve as a realistic example of true democratic freedom.

 

[Nomenclature]

Being a developed country is a lot more than GDP alone. After decades of intensive infrastructures building in China, for example, the per captia infrastructures available in China is still only 20% that of the U.S., and U.S. isn't exactly a shinning example of good infrastructures among the developed countries. It will take a few more decades for China to build enough infrastructures to qualify as developed.

Also development is not just about economics, there's also institutional development. Although arguments can be made that liberal democracy shouldn't be considered an prerequisite for developed country status, a functioning court system surly must be one. ATM China's court system is plagued with undue political and commercial influences and under-trained judges. I just don't see it getting better anytime soon.

Maybe the leaders know what they're talking when they say China is aiming to be a developed country by 2050?

 

[no_name]

Being developed is also about raising standard, behaviour, educational level and common knowledge of the citizens

 

[gubbi]

What's wrong with the fast growth rate?

CCP already tries to cool it down, but the growth is still high.

Can anyone throw some light on this? Why is a fast growth rate not favorable and why the Chinese government tried to slow it down?
Thanks.

 

[mikkix]

whenever china succeeds US and its allies in defence, they will blast the bubble of economy of west in a few months. China is playing waiting game. Sooner or later it will happen.

 

[Pancho2]

And to think, maybe one day China's GDP per capita can finally break the top 100! Take that Albania!