only 643 Billion Dollars is setting China's Economy apart from overtaking the US now

[terranMarine]

This is true, it is about population vs. resources.

With a population of 1+ billion, even with our enormous demand for minerals/resources across the planet, we are still a developing country. Name any country in the world, and we buy resources from them in huge amounts.

With such a huge population, even all the resources in the world are not enough.

In truth, the world will need a revolution in renewable energy if China and India were to become developed economies in the future, otherwise there simply would not be enough resources, the demand would be so far above the production capacity that all commodity prices would shoot through the roof. Which would destroy growth rates.

Now that the 1 child policy has been abolished which is necessary, demand for resources will increase even more in the future. To achieve the status of developed nation with > 1 bln people is extremely difficult.

 

[Chinese-Dragon]

Now that the 1 child policy has been abolished which is necessary, demand for resources will increase even more in the future. To achieve the status of developed nation with > 1 bln people is extremely difficult.

We are in luck though, we happen to have the largest reserves of Shale gas on the planet, which can last for thousands of years, if we can harness it properly (which will take a decade more for production to reach decent levels). Not to mention also having one of the largest reserves of Shale oil on the planet too.

Renewable energy will be king though. China's potential for renewable energy (hydro/wind/solar) is beyond belief, theoretically enough to power the entire nation by itself, though practically very difficult to achieve in the short term.

Hopefully we will be able to become the very first developed country in the world with a 1+ billion population.

 

[terranMarine]

We are in luck though, we happen to have the largest reserves of Shale gas on the planet, which can last for thousands of years, if we can harness it properly (which will take a decade more for production to reach decent levels). Not to mention also having one of the largest reserves of Shale oil on the planet too.

Renewable energy will be king though. China's potential for renewable energy (hydro/wind/solar) is beyond belief, theoretically enough to power the entire nation by itself, though practically very difficult to achieve in the short term.

Hopefully we will be able to become the very first developed country in the world with a 1+ billion population.

You think this is possible within our life time? If not it's hard to say we can do it as we won't be around witnessing it ourselves lol

 

[Chinese-Dragon]

You think this is possible within our life time? If not it's hard to say we can do it as we won't be around witnessing it ourselves lol

To become a "developed country" by World Bank standards, we need to reach a per capita of $10,000, whereas we are currently at $7000. So it can be done fairly soon, we typically double our GDP every four to five years.

But to become a "rich" developed country will take a very long time. I'm still fairly young, but I feel I will see a very strong China in my lifetime. Strong enough that no other country in the world will be able to force our hand, strong enough to defend our sovereignty.

 

[Hamartia Antidote]

Not to mention also having one of the largest reserves of Shale oil on the planet too.

Renewable energy will be king

Nuclear fusion is around the corner and everything will be electric. No need to worry.

 

[terranMarine]

To become a "developed country" by World Bank standards, we need to reach a per capita of $10,000, whereas we are currently at $7000. So it can be done fairly soon, we typically double our GDP every four to five years.

But to become a "rich" developed country will take a very long time. I'm still fairly young, but I feel I will see a very strong China in my lifetime. Strong enough that no other country in the world will be able to force our hand, strong enough to defend our sovereignty.

We still have a few decades left

 

[Full Moon]

We've been sleeping for the past two centuries.

And look what happened, we missed the train to become a developed country (something we are still in the process of fixing), and suffered terribly at the hands of foreign powers during the Century of Humiliation.

And we are still so far behind. The next few decades will be crucial for our economic development.

As always, pleasure to read your well balanced and informative posts.

Thanks man.

 

[Schutz]

This is true, it is about population vs. resources.

With a population of 1+ billion, even with our enormous demand for minerals/resources across the planet, we are still a developing country. Name any country in the world, and we buy resources from them in huge amounts.

With such a huge population, even all the resources in the world are not enough.

In truth, the world will need a revolution in renewable energy if China and India were to become developed economies in the future, otherwise there simply would not be enough resources, the demand would be so far above the production capacity that all commodity prices would shoot through the roof. Which would destroy growth rates.

I think there are to many variables in the equation, good jobs, healthcare, food, homes etc. Its extremely difficult, almost impossible I would say how you can fairly spread wealth to a population of a billion that is growing fast. How autonomous are the most populated provinces in China? these issues are probably better dealt with when broken up into more manageable "chunks" so to speak.

Living in Wales a country with a population of 3 million its hard for me to fathom cities of tens of millions of people and the associated difficulties in dealing with them, most councils in the world struggle to satisfy the needs of people in small cities/towns let alone megacities. I would say China are on the right path with dealing with these problems and the projected growth in population over the next few decades isnt to big of a problem to deal with but its still a huge raw number. Maybe when China hits a certain wealth level similar to Europe the population level flatlines like most Western European countries or like Russia/East Europe it declines.

 

[Raphael]

To become a "developed country" by World Bank standards, we need to reach a per capita of $10,000, whereas we are currently at $7000. So it can be done fairly soon, we typically double our GDP every four to five years.

But to become a "rich" developed country will take a very long time. I'm still fairly young, but I feel I will see a very strong China in my lifetime. Strong enough that no other country in the world will be able to force our hand, strong enough to defend our sovereignty.

$10000 is not developed. It's more like the level of the well-to-do developing countries, such as Brazil, Mexico and Malaysia.

I think, the floor for developed countries is moving, and cannot be pinned to a number. Instead, the target (i.e. the floor for developed status) usually hovers around Poland/Croatia/Hungary.