China could become the world’s largest economy much sooner than expected

[beijingwalker]

We should be prepared in advance.

Once the sanctions war breaks out, we should confiscate all western factories and patents in China on the grounds that USA, Australia and other countries are racist countries.

Basically it means almost all the factories in the world.

 

[MH.Yang]

Basically it means almost all the factories in the world.

The confiscation of Russian people overseas assets by USA has violated the international principle of "inviolability of private property".
Therefore, once necessary, we have every reason to use the same means to sanction all American people assets in China.

 

[FuturePAF]

We should be prepared in advance.

Once the sanctions war breaks out, we should confiscate all western factories and patents in China on the grounds that USA, Australia and other countries are racist countries.

At that point they will cut off Chinese exports to their countries. They are already considering doing that in all the industries they can afford to do so.

China needs friendly markets, that can afford to consume and pay in quantities equal to the west. For that those countries need to be built up. Does china plan to build up these friendly countries faster then it planned to under BRI?

Also, how does China plan to deal with foreign banks seizing Chinese foreign reserves outside of China? Or sanctioning china’s ability to buy things from their countries? As is being done to Russia.

 

[MH.Yang]

At that point they will cut off Chinese exports to their countries. They are already considering doing that in all the industries they can afford to do so.

China needs friendly markets, that can afford to consume and pay in quantities equal to the west. For that those countries need to be built up. Does china plan to build up these friendly countries faster then it planned to under BRI?

Also, how does China plan to deal with foreign banks seizing Chinese foreign reserves outside of China? Or sanctioning china’s ability to buy things from their countries? As is being done to Russia.

If we control almost all factories and reach comprehensive cooperation with the world's largest resource country.
Do we still need foreign exchange?

 

[Indus Pakistan]

We should be prepared in advance.

Once the sanctions war breaks out, we should confiscate all western factories and patents in China on the grounds that USA, Australia and other countries are racist countries.

I actually think China might already be the largest economy in the world in real terms.

 

[Abid123]

China is already the world's largest economy.

 

[beijingwalker]

In PPP, yes, China had been the biggest for a number of years, here it's talking about nominal GDP, China enjoys the process of fast catching up, the result is actually secondary, that's why no one in China talks about PPP, but actually both GDP and PPP are just a number, it won't change much of a country.

 

[kankan326]

At that point they will cut off Chinese exports to their countries. They are already considering doing that in all the industries they can afford to do so.

China needs friendly markets, that can afford to consume and pay in quantities equal to the west. For that those countries need to be built up. Does china plan to build up these friendly countries faster then it planned to under BRI?

Also, how does China plan to deal with foreign banks seizing Chinese foreign reserves outside of China? Or sanctioning china’s ability to buy things from their countries? As is being done to Russia.

US will probably do that. But its allies will not follow US sanctions on China. China is not Russia. China has huge consumption power. Even bigger than US. Russia's natural resources is somehow replaceable for US allies in the long run. Market like China is not.

 

[FuturePAF]

If we control almost all factories and reach comprehensive cooperation with the world's largest resource country.
Do we still need foreign exchange?

In theory no, but the world still trades resources like oil and gas in dollars. Also many western and eastern markets are much larger then developing markets. They may impose restrictions on exports. What good are factories if the west decides to buy locally despite the high costs.

 

[MH.Yang]

In theory no, but the world still trades resources like oil and gas in dollars. Also many western and eastern markets are much larger then developing markets. They may impose restrictions on exports. What good are factories if the west decides to buy locally despite the high costs.

For the vast majority of countries in the world, Chinese goods and Russian resources cannot be replaced, while the US dollar can be replaced. The West has no ability to rebuild a complete industrial chain in a few years, but China and Russia can find a trading method to replace the US dollar in a very short time.

 

[FuturePAF]

For the vast majority of countries in the world, Chinese goods and Russian resources cannot be replaced, while the US dollar can be replaced. The West has no ability to rebuild a complete industrial chain in a few years, but China and Russia can find a trading method to replace the US dollar in a very short time.

The US could put up with the status quo, but slowly shift to other factory locations, especially in the US, over the next 5-10 years. Slow and steady. How will China counter?

 

[HttpError]

If China becomes World's no# 1 economy how would it help Pakistan? I mean just speaking diplomatically and other areas?

 

[MH.Yang]

The US could put up with the status quo, but slowly shift to other factory locations, especially in the US, over the next 5-10 years. Slow and steady. How will China counter?

First of all, the reconstruction of the industrial chain can not be completed in 10 years.
Second, the current situation of American society cannot tolerate high inflation.
Third, the dollar system will collapse and the world's dollars will turn into waste paper and return to USA.
Fourth, Chinese goods and Russian resources will occupy the global market in a short time.

 

[retaxis]

We don't want to be bigger then US. We want to be bigger then US + EU

 

[Abid123]

Is GDP PPP not more useful in a judging a nation's economy?