China Economy Forecasted to Surpass US Economy by 2028

[Findingnemo]

Man power with all the infrastructure let the China to become the manufacturer hub of this world but since covid attack every country realized that they shouldn't be dependent on one country for everything they import so which resulted in some of the biggest companies moving their plant to other countries. Probably China may surpass US economy in the next few years but I swear that US is not going to let them to make it is easier.

[AndySt]

Man power with all the infrastructure let the China to become the manufacturer hub of this world but since covid attack every country realized that they shouldn't be dependent on one country for everything they import so which resulted in some of the biggest companies moving their plant to other countries. Probably China may surpass US economy in the next few years but I swear that US is not going to let them to make it is easier.

No one claims that the United States will calmly look at how China becomes the number one economy in the world, although it is quite strange when they begin to be surprised and even arrange hysteria about this, that a country with 1.4 billion people can overtake a country with 329 million people. Yet, mathematically, China has four times the population of the United States, and the economic growth rate in recent decades has been several times higher.

[Darker45]

Man power with all the infrastructure let the China to become the manufacturer hub of this world but since covid attack every country realized that they shouldn't be dependent on one country for everything they import so which resulted in some of the biggest companies moving their plant to other countries. Probably China may surpass US economy in the next few years but I swear that US is not going to let them to make it is easier.

No one claims that the United States will calmly look at how China becomes the number one economy in the world, although it is quite strange when they begin to be surprised and even arrange hysteria about this, that a country with 1.4 billion people can overtake a country with 329 million people. Yet, mathematically, China has four times the population of the United States, and the economic growth rate in recent decades has been several times higher.

Because instead of a burden, Chine wisely leveraged its huge population to develop the economy. It may not necessarily be this way. High population may not necessarily be an economic catalyst as it may also be a cause for problems related to food shortage or hunger, but it seems China is in fact gaining from it, at least in the past several decades.

With a huge population which are predominantly impoverished, the country started attracting large manufacturing companies by selling dirt cheap labor. It started somewhere there and the economy followed. However, it seems the economic rise of China whose effects are now trickling down to ordinary citizens is also the reason why China is not as attractive as before in terms of labor cost.

[zanezane]

Man power with all the infrastructure let the China to become the manufacturer hub of this world but since covid attack every country realized that they shouldn't be dependent on one country for everything they import so which resulted in some of the biggest companies moving their plant to other countries. Probably China may surpass US economy in the next few years but I swear that US is not going to let them to make it is easier.

That manpower is also the cheapest as far as I know, not to mention the money trap that China puts other small countries in to create a new Silkroad. But, China beating US when it comes to economy is still a dream to be fair, the economy of China is exclusive and most of their wealth is invested in real estate bubble that does not pop because they have exclusive economy.

[Sithara007]

That manpower is also the cheapest as far as I know, not to mention the money trap that China puts other small countries in to create a new Silkroad. But, China beating US when it comes to economy is still a dream to be fair, the economy of China is exclusive and most of their wealth is invested in real estate bubble that does not pop because they have exclusive economy.

That is simply not true. Manpower in China used to be cheap, but that was one or two decades ago. The wages have risen to such a level that they are now 2-3 times higher than the comparable salaries in countries such as India and Indonesia. On top of that, they are now getting strict with environmental and other regulations. Lax regulations attracted a lot of investment earlier.

[zanezane]

~

That is simply not true. Manpower in China used to be cheap, but that was one or two decades ago. The wages have risen to such a level that they are now 2-3 times higher than the comparable salaries in countries such as India and Indonesia. On top of that, they are now getting strict with environmental and other regulations. Lax regulations attracted a lot of investment earlier.

That could be the case but you know that anything that China projects towards other countries are not entirely true, yes the wages increase but the working hours are longer. They might not damage the environment that much but they have factories in Inner Mongolia too, they tried to create an apartment complexes that has plants that help absorb particulates in the air but it backfired because the complexes are now a hellscape infested with mosquitos which is a waste of materials. Those regulations are not in favor of foreign investors as far as I know but I do commend how their government does not have a schism.

[Findingnemo]

That manpower is also the cheapest as far as I know, not to mention the money trap that China puts other small countries in to create a new Silkroad. But, China beating US when it comes to economy is still a dream to be fair, the economy of China is exclusive and most of their wealth is invested in real estate bubble that does not pop because they have exclusive economy.

That is simply not true. Manpower in China used to be cheap, but that was one or two decades ago. The wages have risen to such a level that they are now 2-3 times higher than the comparable salaries in countries such as India and Indonesia. On top of that, they are now getting strict with environmental and other regulations. Lax regulations attracted a lot of investment earlier.

If you compare the salaries of US citizen with Chinese citizen then you can see huge difference in the minimum wages.Of course US doesn't have huge amount as minimum wage but still they are far like 10 or more times than average pay in those countries you mentioned. What China did is created more employment with very low pay so everyone can work which will help their government to become better in economy as well.

[sana54210]

If you compare the salaries of US citizen with Chinese citizen then you can see huge difference in the minimum wages.Of course US doesn't have huge amount as minimum wage but still they are far like 10 or more times than average pay in those countries you mentioned. What China did is created more employment with very low pay so everyone can work which will help their government to become better in economy as well.

Interesting tidbit about Chinese propaganda, they are everywhere so you should be careful. Chinese do not really pay a lot of money to everyone, but not because they can't afford to, they just gather all the money in CCP and that is the problem.

If you look at the numbers, you can see that minimum wage of China is not that bad at all, obviously not as high as USA but USA is one of the richest nations in the world with quarter of the population china has, even less than that; it means China on paper looks fine, but that is on paper.

If you have seen anyone in china and how they live, you will realize that they are doing a lot worse than what they suppose to on paper, they are not getting paid as the minimum wage, and there are literally slaves in that nation as well. So, you will find a lot of people who will defend it because they are paid to do so by CCP but  the reality is that it is a nation with few rich and many poor and that hasn't changed in the past 100 years.

[Findingnemo]

If you compare the salaries of US citizen with Chinese citizen then you can see huge difference in the minimum wages.Of course US doesn't have huge amount as minimum wage but still they are far like 10 or more times than average pay in those countries you mentioned. What China did is created more employment with very low pay so everyone can work which will help their government to become better in economy as well.

Interesting tidbit about Chinese propaganda, they are everywhere so you should be careful. Chinese do not really pay a lot of money to everyone, but not because they can't afford to, they just gather all the money in CCP and that is the problem.

If you look at the numbers, you can see that minimum wage of China is not that bad at all, obviously not as high as USA but USA is one of the richest nations in the world with quarter of the population china has, even less than that; it means China on paper looks fine, but that is on paper.

If you have seen anyone in china and how they live, you will realize that they are doing a lot worse than what they suppose to on paper, they are not getting paid as the minimum wage, and there are literally slaves in that nation as well. So, you will find a lot of people who will defend it because they are paid to do so by CCP but  the reality is that it is a nation with few rich and many poor and that hasn't changed in the past 100 years.

I do have some friends from China who currently migrated to other countries for better life style. I can vouch what you said, most of the people in that country live like a slave but government claims that they were given decent pay to everyone. China is a country which developed in all the sectors but the standard of life for the people in China still remains low.

[create_crypto]

The Chinese economy is expected to surpass that of the U.S. in 2028 - five years earlier than previously forecast - following fallout from the coronavirus pandemic, according to an analysis released Saturday.

Source:  https://www.msn.com/en-us/news/world/china-expected-to-surpass-us-economy-in-2028-analysis/

As stated, this is 5 years earlier than last projected, due to the effects of the pandemic. The US is not going to like being in the number two spot, and even less when India’s economy then surpasses the US after that. The biggest benefit to this massive Asian economies is the sheer number of people. The United States’ best hope of competing is to increase the number of Americans and, and quickly.

The US should be drastically overhauling the skilled worker visa program to greatly increase the number of tech workers brought into the country so that the next tech mega companies are created here, and not in Asia. This is should be viewed as an area of national security. Larger militaries inevitably follow larger economies, and the US can not afford to squander the advantages while they still have them.

If we will take a look about GDP by PPP, it is alredy happened 2 years ago, and now Chinese GDP more than 23.5 trillions:

https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?locations=CN

Than, US GDP less than Chinese at 18%

https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?locations=CN-US

[Mauser]

In my opinion it's a bit utopic to expect China to be the largest economy in the world in less than 10 years. We shouldn't forget that China is a communist country with no free rights for their population. So at the moment the world is not reacting to it as there are more concerning problems like covid pandemic. In my opinion the pressure against China will pick up in the next years probably hurting Chinese growth rates.

[create_crypto]

In my opinion it's a bit utopic to expect China to be the largest economy in the world in less than 10 years. We shouldn't forget that China is a communist country with no free rights for their population. So at the moment the world is not reacting to it as there are more concerning problems like covid pandemic. In my opinion the pressure against China will pick up in the next years probably hurting Chinese growth rates.

By the political system - yes, communists, that mean no elections, just one real party ruling. But by economy - they have a completly capitalists country with protection of rights of ownership, freedom to enterprinership. That is the main difference between traditional communists countries like old-USSR country.

Also we can look for Singapore, country, that also have not democracy very long tome, it is ruled by autocratic regime, and they begin to one of the richest ecomonies of the world.

[YOSHIE]

China and the United States they have stiff competition in all fields be it economy, technology, weapons and so on, I'm not saying that will happen in 2028, what is clear is that for now there are thousands of ways that China has done to defeat the US, in fact none of them have been successful yet.

The US has its own way of dealing with the China vs US competition, the bottom line: the US doesn't want to lose in everything it is a superpower, smart and cunning.
Not sure 2028 China can beat the US.

[create_crypto]

That manpower is also the cheapest as far as I know, not to mention the money trap that China puts other small countries in to create a new Silkroad. But, China beating US when it comes to economy is still a dream to be fair, the economy of China is exclusive and most of their wealth is invested in real estate bubble that does not pop because they have exclusive economy.

That is simply not true. Manpower in China used to be cheap, but that was one or two decades ago. The wages have risen to such a level that they are now 2-3 times higher than the comparable salaries in countries such as India and Indonesia. On top of that, they are now getting strict with environmental and other regulations. Lax regulations attracted a lot of investment earlier.

If you compare the salaries of US citizen with Chinese citizen then you can see huge difference in the minimum wages.Of course US doesn't have huge amount as minimum wage but still they are far like 10 or more times than average pay in those countries you mentioned. What China did is created more employment with very low pay so everyone can work which will help their government to become better in economy as well.

Last years chinese salaries grown very much. And they are already on 30-40% more than, for example, most of old comunists USSR countries, like Russia or Ukraine. Avarage in China is 14.294 $ (yearly)

https://tradingeconomics.com/china/wages

And we have a median salary in USA - 35.977 $ (yearly)

https://en.wikipedia.org/wiki/Personal_income_in_the_United_States#:~:text=The%20Bureau%20of%20Labor%20Statistics,sex%2C%20ethnicity%20and%20educational%20characteristics.

But in China we have also much less prices for living, buildng homes, services, etc. If we include that factor from GDP by PPP, we can see that on the same 1 dollar in USA you have a 1,72 dollars in China money buying power Index.

So we can see that is not big gap in final income and wealth -
14.294 $ * 1,72 = 24.585 $
24.585 $ vs 35.977 $ = US salary more on 46%

If we compare just pure numbers:
14.294 $ vs 35.977 $ = Us salary more just on 151%

And that`s why last 6-8 years most of companies oppening their new factories not in China but in Bangladesh, Vietnam and India. Because Chinese salaries already not little as it was 20 years ago, for example.

[bassbity]

In my opinion it's a bit utopic to expect China to be the largest economy in the world in less than 10 years. We shouldn't forget that China is a communist country with no free rights for their population. So at the moment the world is not reacting to it as there are more concerning problems like covid pandemic. In my opinion the pressure against China will pick up in the next years probably hurting Chinese growth rates.

Yes, that's true, but their ruthless communist ideology and intolerance of any politics is completely unacceptable to any democratic country, China has always made plans in the past, and did it in detail to rule over 1/3 of the world. America of course must really strengthen its political and economic system. otherwise the flow of china will be very dangerous.

[create_crypto]

This competition may go on for America-China, but statistics has always shown China leading. The economy already has over 1 billion population to take care as against over 300 million population of America. For the past 4 years that US has relax the funding and involvement in international projects, China has done more. They got more reserve of Cryptocurrency, Gold and even US currency.

Totally agree, And we can compare China and US by a lot of indexies.

So China is now world leading country in production:
- Autos and Engines.
- New buildings.
- Production of cement for construction.
- Amount of road surface.
- Amount of highways.
- Length of railways.

[Findingnemo]

That manpower is also the cheapest as far as I know, not to mention the money trap that China puts other small countries in to create a new Silkroad. But, China beating US when it comes to economy is still a dream to be fair, the economy of China is exclusive and most of their wealth is invested in real estate bubble that does not pop because they have exclusive economy.

That is simply not true. Manpower in China used to be cheap, but that was one or two decades ago. The wages have risen to such a level that they are now 2-3 times higher than the comparable salaries in countries such as India and Indonesia. On top of that, they are now getting strict with environmental and other regulations. Lax regulations attracted a lot of investment earlier.

If you compare the salaries of US citizen with Chinese citizen then you can see huge difference in the minimum wages.Of course US doesn't have huge amount as minimum wage but still they are far like 10 or more times than average pay in those countries you mentioned. What China did is created more employment with very low pay so everyone can work which will help their government to become better in economy as well.

Last years chinese salaries grown very much. And they are already on 30-40% more than, for example, most of old comunists USSR countries, like Russia or Ukraine. Avarage in China is 14.294 $ (yearly)

https://tradingeconomics.com/china/wages

And we have a median salary in USA - 35.977 $ (yearly)

https://en.wikipedia.org/wiki/Personal_income_in_the_United_States#:~:text=The%20Bureau%20of%20Labor%20Statistics,sex%2C%20ethnicity%20and%20educational%20characteristics.

But in China we have also much less prices for living, buildng homes, services, etc. If we include that factor from GDP by PPP, we can see that on the same 1 dollar in USA you have a 1,72 dollars in China money buying power Index.

So we can see that is not big gap in final income and wealth -
14.294 $ * 1,72 = 24.585 $
24.585 $ vs 35.977 $ = US salary more on 46%

If we compare just pure numbers:
14.294 $ vs 35.977 $ = Us salary more just on 151%

And that`s why last 6-8 years most of companies oppening their new factories not in China but in Bangladesh, Vietnam and India. Because Chinese salaries already not little as it was 20 years ago, for example.

Average salary is higher in China but what about the salary of majority of people which is far lower than US as far as I know. Not sure about the exact values wnd calculation of average salary but the ground reality is different from what we can see on the paper.

[kpierce77]

In my opinion it's a bit utopic to expect China to be the largest economy in the world in less than 10 years. We shouldn't forget that China is a communist country with no free rights for their population. So at the moment the world is not reacting to it as there are more concerning problems like covid pandemic. In my opinion the pressure against China will pick up in the next years probably hurting Chinese growth rates.

Yes, that's true, but their ruthless communist ideology and intolerance of any politics is completely unacceptable to any democratic country, China has always made plans in the past, and did it in detail to rule over 1/3 of the world. America of course must really strengthen its political and economic system. otherwise the flow of china will be very dangerous.

China has a goal of combining several Asian countries under China as the center of the world economy. Currently, from a political perspective, they are very strong and on the other hand, the US is being divided. maybe India has some chances if they are able to maximize their technology sector, but still now that China's condition is getting stronger, it's almost difficult to keep up with them in Asia

[create_crypto]

That manpower is also the cheapest as far as I know, not to mention the money trap that China puts other small countries in to create a new Silkroad. But, China beating US when it comes to economy is still a dream to be fair, the economy of China is exclusive and most of their wealth is invested in real estate bubble that does not pop because they have exclusive economy.

That is simply not true. Manpower in China used to be cheap, but that was one or two decades ago. The wages have risen to such a level that they are now 2-3 times higher than the comparable salaries in countries such as India and Indonesia. On top of that, they are now getting strict with environmental and other regulations. Lax regulations attracted a lot of investment earlier.

If you compare the salaries of US citizen with Chinese citizen then you can see huge difference in the minimum wages.Of course US doesn't have huge amount as minimum wage but still they are far like 10 or more times than average pay in those countries you mentioned. What China did is created more employment with very low pay so everyone can work which will help their government to become better in economy as well.

Last years chinese salaries grown very much. And they are already on 30-40% more than, for example, most of old comunists USSR countries, like Russia or Ukraine. Avarage in China is 14.294 $ (yearly)

https://tradingeconomics.com/china/wages

And we have a median salary in USA - 35.977 $ (yearly)

https://en.wikipedia.org/wiki/Personal_income_in_the_United_States#:~:text=The%20Bureau%20of%20Labor%20Statistics,sex%2C%20ethnicity%20and%20educational%20characteristics.

But in China we have also much less prices for living, buildng homes, services, etc. If we include that factor from GDP by PPP, we can see that on the same 1 dollar in USA you have a 1,72 dollars in China money buying power Index.

So we can see that is not big gap in final income and wealth -
14.294 $ * 1,72 = 24.585 $
24.585 $ vs 35.977 $ = US salary more on 46%

If we compare just pure numbers:
14.294 $ vs 35.977 $ = Us salary more just on 151%

And that`s why last 6-8 years most of companies oppening their new factories not in China but in Bangladesh, Vietnam and India. Because Chinese salaries already not little as it was 20 years ago, for example.

Average salary is higher in China but what about the salary of majority of people which is far lower than US as far as I know. Not sure about the exact values wnd calculation of average salary but the ground reality is different from what we can see on the paper.

That is true they have that problem with a lot of people (mostly in a countrysides), that living very poor. That`s why Chinese goverment create a lot of programs of "elimination of poverty" like "Zero poverty" promgram.

And they also settled this goal to be achived that year.

https://news.cgtn.com/news/2020-11-23/China-eliminates-absolute-poverty-one-month-before-schedule-VEp8VAJJS0/index.html#:~:text=China%20has%20set%20the%20goal,by%20the%20end%20of%202020.&text=The%20population%20living%20in%20absolute,decreased%20from%20832%20to%2052.

For understanding how many people in the country living poor and how many rich, it is created an Index (Income Equality), that showing how many time top 10% richest people earn more than top 10% poorest people in the country.

For example:
- In US 18,5 times
- In China 21,6 times

https://en.wikipedia.org/wiki/List_of_countries_by_income_equality

In China a liitle bit more disequality at 3%. But not huge diffenece with US.

For example disequality in Germany - 6.9. At till three times lower than in US.

[MCobian]

The year 2028 is still about 7 years away, so anything can happen in 2028. Including the Chinese economy is expected to pass through
the American economy. If you look at China's current economic development which is quite rapid, it is possible that in 7 years China will
be able to dominate the global economy. But we also must not forget that today the USD is the currency that is still trusted by most countries
in the world, as a global currency that can be used for international trade.

While Yuan is still used by residents of China only. So, indirectly, America still plays an important role in the world economy. Both China
and America will continue to fight to become the country with the best economy. We'll see who is better in the next 7 years.