Economists question whether China will ever overtake the U.S. as the top global economy

[FairAndUnbiased]

I'm in the camp that believes the CCP overstates its GDP by 25-30%, mostly as a result of a top-down system that rewards lower government officials for meeting annual budgets and GDP targets by suspiciously close margins.

Watch what's happening with the Chinese real estate market, its on a downward trend over the last three months that will almost certainly precipitate a burst of the bubble and a long recession given that 30% of Chinas GDP is directly or indriectly generated by the real estate sector.

China's GDP is actually underestimated because there's no imputed rent counted. Addition of imputed rent alone is ez pz +15%.

Imputed rent - Wikipedia

en.m.wikipedia.org

Jedsnet.com

 

[Pakistan Space Agency]

... some economists argue that the signs are not as robust for China as the CCP would like the world to believe, ...

When did the CCP do this?

All I've heard so far from either Western analysts or pro-Western analysts for the last couple of decades, is either how evil China will surpass the pious US or simply how China will die.

So far, I've not heard much from the CCP or the Chinese in general gloating about world domination or becoming a superpower.

It would seem all the pro and con doomsday hypothetical scenarios are being imagined by insecure Western analysts, if we can call them that. What will they do when China does become the largest economy in the world just like they overtook the US in PPP terms in 2017?

 

[MH.Yang]

Poor Americans, they are frightened.
So many PDF American accounts are online at the same time to publish articles that smear China's economy. Such an urgent and organized network smear campaign. Is there a big problem with the American economy now? What is the current inflation situation in the USA?

 

[Kai Liu]

I'm in the camp that believes the CCP overstates its GDP by 25-30%, mostly as a result of a top-down system that rewards lower government officials for meeting annual budgets and GDP targets by suspiciously close margins.

Watch what's happening with the Chinese real estate market, its on a downward trend over the last three months that will almost certainly precipitate a burst of the bubble and a long recession given that 30% of Chinas GDP is directly or indriectly generated by the real estate sector.

LMAO, if China's GDP is overestimated, every country in the world should reduce their GDP at least by half...
You can just compare the price for cars, food, housing, medical care, education, transportation, everything to see how much the real value of China's GDP is. Instead, China intentionally understates its GDP by 25-30%.
One indication for example: China is by far the largest car market, with ~30 million sold annually, all stats by manufacturers including most international giants such as VW, Toyota, etc. You can tell the scale of the economy.

 

[FuturePAF]

Damn Pak was in Red?
Covid didn't hit us as hard though, things were normal for the most part

A lot of hard work must have went into that. For this we should be appreciative of Allah’s mercy and the gumnaam health professionals and government officials trying to keep the people safe.

China managed to close the gap last year due to Covid, but has made little progress otherwise in catching up since the early 2010s.

They maybe on the verge of breakthroughs in key industries like airliners. Boeing has really hurt the reputation of American made airliners to the point Chinese companies like COMAC may have a chance to take market share. Remember the story of RyanAir considering to buy COMAC planes recently. Once they are in with one western airline it may only be a matter of time, before they make up a significant share of all the major airlines, just like Airbus took market share from the smaller American airline manufacturers.

 

[Maula Jatt]

A lot of hard work must have went into that. For this we should be appreciative of Allah’s mercy and the gumnaam health professionals and government officials trying to keep the people safe.

Yep, all of these guys and gals behind the scenes were literal heroes
Saved thousands of lives
While right in our neighborhood Iran and India things went really bad, unfortunately

 

[FuturePAF]

Yep, all of these guys and gals behind the scenes were literal heroes
Saved thousands of lives
While right in our neighborhood Iran and India things went really bad, unfortunately

And we are not through the woods yet. The next 2-4 months maybe critical for how nations fare in trying to recover from this pandemic.

 

[Saudang]

Meanwhile, this year, China's nominal GDP will reach 17.7 trillion dollar, from 14.2 trillion dollar last year. Whilst, in most industrial output measure, China is already about 10X of that of the US. And China's RMB is the best performing currency this year.

But who cares, US still control their well-liked self-comforting media, so everything is fine

View attachment 804743

So Chinese economy grew by 24.65% in a year??

Dude, this is not a comedy thread

 

[Tshering22]

Meanwhile, this year, China's nominal GDP will reach 17.7 trillion dollar, from 14.2 trillion dollar last year. Whilst, in most industrial output measure, China is already about 10X of that of the US. And China's RMB is the best performing currency this year.

But who cares, US still control their well-liked self-comforting media, so everything is fine

View attachment 804743

That map is messed up big time. Europe and the Americas are in total chaos with "ma freedom ma rights" storming throughout the streets, anti-vaxxers everywhere, and them passing the most draconian laws in their history.

Almost all Asian countries handled the pandemic much better with much lesser resources.

 

[Kai Liu]

So Chinese economy grew by 24.65% in a year??

Dude, this is not a comedy thread

That is not a comedy post, of course, but you are a comedian, lol...
There is something called real growth and nominal growth, and the later depends on exchange rate against USD. The pandemic might be a factor too. You know you are a joke now?

 

[Beidou2020]

China overstate their GDP, yet they consume every category of goods way more than the US, be it cars, computers, phones, and properties.

And their industry and materilized output is 10x of that of the US, you can now understand that the US overstate their GDP by 1000% or more, by the same measure.

If the yuan were at correct market value, China’s economy would already be bigger than the US economy in nominal terms. As you say, in pretty much every individual category of goods consumption, China is well ahead. In goods production, China is miles ahead.

US economy is grossly overstated because of including consumption of expensive healthcare services to GDP. It ridiculously overstate their GDP value. Other countries have better and more affordable healthcare services that adds much less to GDP.

US economy is all about money printing. It’s a one trick pony.

 

[FairAndUnbiased]

Who gives a **** about the exchange rate of RMB against the USD. CCP can announce exchange rate to be equal to USD and make the Chitcom economy a $100 trillion economy tomorrow..

Broadening your information source other than CCP mouth pieces will help

 

[Raider 21]

A lot of hard work must have went into that. For this we should be appreciative of Allah’s mercy and the gumnaam health professionals and government officials trying to keep the people safe.


They maybe on the verge of breakthroughs in key industries like airliners. Boeing has really hurt the reputation of American made airliners to the point Chinese companies like COMAC may have a chance to take market share. Remember the story of RyanAir considering to buy COMAC planes recently. Once they are in with one western airline it may only be a matter of time, before they make up a significant share of all the major airlines, just like Airbus took market share from the smaller American airline manufacturers.

I was sent to Ryanair last year to test their flight simulators. They are still firm about getting their Max aircraft, in addition to A320s.

COMAC may work out but it is having far too many problems to be sold in a mass market. Even the simulators are exhibiting lots of engineering issues. Cheap doesn't mean to speed up on compromising reliability.

 

[MultaniGuy]

I sincerely hope China becomes the world's largest economy.
The world has been unipolar for too long now.

 

[Kai Liu]

Who gives a **** about the exchange rate of RMB against the USD. CCP can announce exchange rate to be equal to USD and make the Chitcom economy a $100 trillion economy tomorrow..

Broadening your information source other than CCP mouth pieces will help

We are not from a joke country like you, LMAO... Slumdug 2020....

https://www.thehindu.com/business/Economy/India-can-become-economically-developed-by-2020-Kalam/article14905378.ece

Well, World bank or IMF or UN are not 'CCP mouth pieces'...
You are so triggered...What a joke...LMAO...