China Economy Forecasted to Surpass US Economy by 2028

[create_crypto]

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.

They have testing their own Chinese cryptocurrency - China's National Digital Currency DCEP. They doing it last 2 years, and now started to implement in some regions of country. Also big chinese companies at these regions start to accept it.

https://www.asiacryptotoday.com/china-digital-yuan-dcep/

[1713525419]

1713525419

[Sithara007]

They have testing their own Chinese cryptocurrency - China's National Digital Currency DCEP. They doing it last 2 years, and now started to implement in some regions of country. Also big chinese companies at these regions start to accept it.

https://www.asiacryptotoday.com/china-digital-yuan-dcep/

How is this centralized Digital Yuan any different than other online fiat payment modes such as PayPal? These central bank issued cryptocurrencies will be competing against other digital versions of fiat, and not with decentralized cryptocurrencies. And noting the fact that the Chinese Yuan is probably one of the most manipulated national currencies in the world, I pity on those who chose to hold it.

[jaysabi]

What’s helping the Chinese economy is that they are such a manufacturing powerhouse. Actually MAKING things is transforming the Chinese economy, the same as it did for the US during the 1940s when WWII-related needs forced the US to rapidly and massively increase manufacturing. This carried forward after the war and created a robust middle class which is what built the wealth of the nation. China is undergoing this same process currently. With the US manufacturing less then they would have because of offshoring, I’m concerned about the US economy’s ability to keep up.

[DrBeer]

Before and after the new year, I collected a little information on China, and an idea appeared. I'll clarify now.
What and what information?
1. A friend who has lived in China for about 12 years. Works for a large Chinese company
2. An acquaintance who worked in one media belonging to China
3. Information in open sources.
So, a selection of events:
- a flurry of news that "Covid was defeated in China, the disease rate fell, the death rate fell, everything is fine, the epidemic has receded"
- An acquaintance working in the local media was "asked" to finish her work in the media and return to her homeland, after she doubted the "global improvement of the situation" and offered to conduct a journalistic investigation.
- an acquaintance who works in China (he is the TOP manager of the company), asked a question at some event, how so - the epidemic was defeated, and the families of his local acquaintances are greatly thinning, while there are no accepted traditions of farewell to the dead, but the question why he was answered that they are FORBIDDEN, "here they say a crematorium, here's a capsule, they quietly said goodbye, buried it, and that's it," local top managers recommended him not to ask such questions, nor to them or other residents of China, and generally try to forget about what he asked, i.e. to. the consequences can be very negative ...
As a result, I got the idea that China has engaged in information pressure and systemic misinformation of the world community, trying to show that everything is fine in China, that the virus has been defeated. The goal is to prevent the quarantine blocking of China, because this will mean the collapse of the EXPORT-oriented economy, the growth of internal tensions and discontent of 1.2+ billion people with very unpleasant consequences.
And such a blockage can be introduced into, for example, due to a mutation of the virus and the appearance in China of a new strain of the virus, or simply understanding that in China the virus continues to massively infect people ...

What do you think ?

[ene1980]

How is this centralized Digital Yuan any different than other online fiat payment modes such as PayPal? These central bank issued cryptocurrencies will be competing against other digital versions of fiat, and not with decentralized cryptocurrencies. And noting the fact that the Chinese Yuan is probably one of the most manipulated national currencies in the world, I pity on those who chose to hold it.

There is a major difference between a currency minted by the government and a payment processors like PayPal. The competition is to hold the valuation with other centralized currency and to attract the investors. It is really hard to attract investors even if a government comes out with a digital currency that can be purchased globally.

The forecast is according to the current data and we might see changes if there a radical economic reform from the US government rather than printing out trillions.

[bryant.coleman]

A part of the Bitcoin rally was attributed to the weakening US Dollar by some of the mainstream media outlets. They claim that printing trillions of USD worth of banknotes as a part of the stimulus has had a negative impact on the net worth of Dollar. I am not quite sure about it, as I haven't noticed any similar rallies with other assets (such as crude oil and bullion).

[stompix]

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.

PPP is the way of telling a poor person that him eating bread is the equivalent of a rich man eating cake, and nothing more.
How many satoshis can you buy in the US with the average wage? How many satoshis can you buy in Chian with the average wage?
That's what matters, just because you have a 10000mp2 mansion in Jerome Arizona it doesn't mean you're richer than a guy owning a one-bedroom apartment in Manhattan.

Totally agree, And we can compare China and US by a lot of indexies.
- Amount of road surface.
- Amount of highways.
- Length of railways.

So I guess, the Netherlands, although being the 11th in GDP per capita (real, not that lame PPP)  will never be able to match Congo by those metrics.

How about we compare China and the US by the only one thing that matters to their population?
How many Chinese have fled China for the US and EU and how many Americans and Europeans have done the opposite?   

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.

How did that last program, the "Great Leap Forward' end? Haven't seen any Chinese official coming with a statement on the results!

[Smartprofit]

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.

In my opinion, China's competitive advantage over the United States lies not only in its large population.  

China is a mono-ethnic country.  The official religion is Buddhism. There are few Muslims in China end they are tightly controlled by the central government.  This means that China is not threatened by inter-ethnic and inter-confessional conflicts.  

In the United States in the future, interethnic and interfaith conflicts are possible, since the US population is very heterogeneous.

China is led by the Chinese Communist Party. There is only one political party in China.  

This allows for important decisions and systematic development of the economy in a predetermined direction.

[darewaller]

People are forgetting that this has changed because China was on route to making a decent amount of profit with all the work they do from other nations, plus USA was in a horrible situation because of Trump as well. You might be someone who loves Trump, which I am sorry for you, but if you check the stats it is obvious that Trump turned that nation into a horrible economic place, every single stat shows that dude basically tried to bankrupt USA just like he did with all his other business' as well, having hundreds of millions of dollars worth of debt is "normal" to him, so he tried to basically mimic the same thing for USA as well.

Now that Biden is the president (well soon) and now that China is known to break sooooo many international laws with hong kong, muslims in their nation and indian border, we are going to not have any Chinese economy passing American anytime soon, not in 2028, not in 2038.

[darewaller]

You are blinded by your political beliefs. Trump was not the best president United States ever had, but the economy did exceptionally well under him. The stock market indices rose by almost 100% in just four years, and the unemployment rate was at all time low. Now they have elected a radical socialist to replace him, and I expect the economy to go downhill as soon as Biden/Kamala takes office.

Okay I do not want to turn this into a political post, because let's face it, there is no way I can write something that will change your opinion suddenly and make you realize that you were wrong, and there is none that you can say that will change mine, so going into a political discussion would be a futile attempt.

However I would like to correct a few factual wrongs here. First of all we have peaked at 34 million unemployment applications, 4 times higher than ever before in history of USA, but let's give that to covid and not trump (which trump didn't do a lockdown so he was guilty of it and didn't use taxes to pay people 2000 checks, so he is guilty of that too, but nevertheless let's just say its allll corona virus causing this even though it didn't in ANY other nation). Another mistake would be thinking Biden is radical left, in fact, he is not even "mild" left, he is a liberal, he is not left.

[jaysabi]

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.

In my opinion, China's competitive advantage over the United States lies not only in its large population.  

China is a mono-ethnic country.  The official religion is Buddhism. There are few Muslims in China end they are tightly controlled by the central government.  This means that China is not threatened by inter-ethnic and inter-confessional conflicts.  

In the United States in the future, interethnic and interfaith conflicts are possible, since the US population is very heterogeneous.

China is led by the Chinese Communist Party. There is only one political party in China.  

This allows for important decisions and systematic development of the economy in a predetermined direction.

China is very much threatened by inter-ethnic and interfaith conflicts. That's why they've rounded up their Muslim inhabitants by the millions and put them in concentration camps and torture them under "re-education" programs. China is so centrally managed because the leadership is deathly afraid of anyone who doesn't swear absolute loyalty to the party.

[verita1]

Although I was not able to open your link. I did a search and found it.

https://www.msn.com/en-us/money/markets/china-expected-to-surpass-us-economy-in-2028-analysis/ar-BB1cfsIH

I agree with what the article says. Because it is quite obvious that now the USA is at a disadvantage because it is still dealing with the Covid19 pandemic. Which results in a backwardness in its economy and less productivity.

The opinion that you indicate that it should increase its population is very viable. Surely the USA will be creating adequate strategies to come out successfully in this crisis that very soon will begin to shine.

[AndySt]

China is very much threatened by inter-ethnic and interfaith conflicts. That's why they've rounded up their Muslim inhabitants by the millions and put them in concentration camps and torture them under "re-education" programs. China is so centrally managed because the leadership is deathly afraid of anyone who doesn't swear absolute loyalty to the party.

Interethnic and sectarian conflicts can threaten any large country simply because of its size, and that is why central governments exist to deal with such issues. Another issue is that I don't have strong confidence that a few million inhabitants can so much threaten the integrity of a country with 1.4 billion people predominantly belonging to one ethnic group called "Han", which makes up 93% of the population. For modern China, ideological and property stratification is much more dangerous, when the political system may not keep up with the rapidly growing well-being of citizens who may demand more respect for their own opinions.

[Sithara007]

Interethnic and sectarian conflicts can threaten any large country simply because of its size, and that is why central governments exist to deal with such issues. Another issue is that I don't have strong confidence that a few million inhabitants can so much threaten the integrity of a country with 1.4 billion people predominantly belonging to one ethnic group called "Han", which makes up 93% of the population. For modern China, ideological and property stratification is much more dangerous, when the political system may not keep up with the rapidly growing well-being of citizens who may demand more respect for their own opinions.

China is a very homogenous country, and it gives them a big advantage over other countries such as India, United States and Russia, which are heterogenous. Not just 93% of the population is Han, but a large portion of the population is made of assimilated ethnic groups such as Manchu and Tujia, who speak the Mandarin language and are hard to distinguish from the Han. Only a few smaller ethnic groups such as Uyghur and Tibetan have resisted complete assimilation. And the citizens don't complain much, since their disposable income is increasing every year.

Other countries are caught up in a web of preferential treatment and affirmative action to certain ethnic group, which leads to inter-ethnic hostility.

[jaysabi]

China is very much threatened by inter-ethnic and interfaith conflicts. That's why they've rounded up their Muslim inhabitants by the millions and put them in concentration camps and torture them under "re-education" programs. China is so centrally managed because the leadership is deathly afraid of anyone who doesn't swear absolute loyalty to the party.

Interethnic and sectarian conflicts can threaten any large country simply because of its size, and that is why central governments exist to deal with such issues. Another issue is that I don't have strong confidence that a few million inhabitants can so much threaten the integrity of a country with 1.4 billion people predominantly belonging to one ethnic group called "Han", which makes up 93% of the population. For modern China, ideological and property stratification is much more dangerous, when the political system may not keep up with the rapidly growing well-being of citizens who may demand more respect for their own opinions.

I think the fact that China has instituted such a controversial program belies this point.  If China wasn't worried about the minority populations, there would be no need to put them in concentration camps and force torturous re-education programs on them.  At the very least, it's threatens to turn the world against them.  I think wealth stratification is another threat (related to what you said as ideological and property stratification) which is why the communist party is so obsessed with growing the Chinese economy at any cost, including controlling the media so no other narrative can be told other than the glowing success of the Chinese economic miracle, and the party delivering enough tangible benefits to make the however much of it that is illusory seem true to placate the population.

[karisiak123]

It could happen china from year to year continues to develop in terms of technology and others. will certainly improve its economy and even beat other countries. With a large population of course they continue to grow in terms of creating a new one to defeat other countries

[stompix]

Okay I do not want to turn this into a political post, because let's face it, there is no way I can write something that will change your opinion suddenly and make you realize that you were wrong, and there is none that you can say that will change mine, so going into a political discussion would be a futile attempt.
However I would like to correct a few factual wrongs here. First of all we have peaked at 34 million unemployment applications, 4 times higher than ever before in history of USA, but let's give that to covid and not trump ....

You don't want to turn this into something politically but you start attacking Trump because he is the one to have lost those jobs, well then blame Woodrow Wilson for the outcome of ww1 and the deaths of the Spanish flu.
I'm not a Trump fan at all but since you've said you don't want to be politically biased how about you look at the before the covid : 152 million in 2017, 158 million at the start of 2020. Was Trump at fault when Canada lost 3 million jobs in March and April or what happened in Europe?

If you want to make a case why was he a bad president do the numbers for the other 3 years he was in charge, 3 years of economical data is enough to make an analysis and back your claim. I have a feeling there is a need for a scapegoat and now everyone tries to pin everything on him.

every single stat shows that dude basically tried to bankrupt USA just like he did with all his other business' as well, having hundreds of millions of dollars worth of debt is "normal" to him, so he tried to basically mimic the same thing for USA as well.
Now that Biden is the president (well soon)

....he is going to do exactly the same , print trillions and not care about the debt.

To these costs ought to be added the projected budget deficits under existing policies. For the period from 2021 to 2030, CBO figures that’s another $13 trillion. The grand total comes to $20.7 trillion (the $13 trillion, plus the $7.7 trillion).

And after 4 years we're going to have the same discussion but with reverse rolls, the previous guy was better, I've seen it way too many times already to give a single f about who is in charge anymore.

[AicecreaME]

Not surprising at all, especially in this time of pandemic, it seems like the rumors about COVID-19 was really invented in China, their vaccine is cheaper but less effective compare to other countries vaccines. Of course poor third world countries that's being manipulated by China would support China's vaccine, meaning they are going to make profits out of their incompetent vaccine. China is all about business, their Government is evil in my opinion, that's why Taiwan made their own government.

I'm not going to be surprise if one day China will declare the World War 3 because of its power against so many Nations. I guess judgment day (based on the Bible) is coming soon.

[emmybd]

China has achieved tremendous economic growth over the past twenty years. China is trying their best to boost their economic growth compared to the US. China was the first country which was attacked by Covid-19 but they didn't fall down economically. But on the other hand, US faced a lot of difficulties because of Covid-19. They faced economical crisis. Millions of Americans lost their job during this pandemic.
A report says that, the US economy will grow by about 1.9% annually from 2022-24 and then slow to 1.6% in the years after that. But surprisingly the Chinese economy is will grow by 5.7% annually until 2025, and 4.5% annually from 2026-2030. China is becoming economically stronger than US day by day. China is hoping that one day they will be economically more stable than US. And that day is not so far. So, their main goal is now to surpass US economy by 2028 and they believe that they will be able to do this.

[mu_enrico]

What's the metric? GDP or GDP per capita?
If you look at only the (aggregate) GDP, you will see even Indonesia beat Netherland, Saudi Arabia, and Switzerland. Does it mean our economy is better than the mentioned countries? No way.

With that population, it's difficult to "share the pie." Therefore, we will see they will become more expansive, especially when there is little innovation (traits of communism).