I have been keeping an eye on Chinese GDP nominal vs other countries for a while now. One of my interests I guess. Here is a bit more information to set the stage.
Hopefully 2020 they surpass the entire post Brexit EU.
Heh, you should do a PPP one...
When China becomes the biggest economy in the world, the wrongs must be righted.
For one, I would want HSBC to be sold to a Chinese company and the HQ be moved back to Hongkong. I would like all Chinese artifacts in the British Museum be repatriated to Beijing.
Change HSBC to SBC, owned by china’s sovereign fund
Just rebuild it, don't care who pays for it really.
Nah leave it be as a reminder of century of humiliation. Empires come and go. I’d like Chinese civilisation long live.
It must be rebuild
Nah, the Summer Palace is a sign of the decadence of the Qing Imperial Family, it needs to go the same way as the Qing.
The Summer Palace is an architectural marvel, it should be preserved for that reason alone.
Western economic dominance is an aberration in world history. China will soon take her rightful place.
The US succeeded post WWII because it had no competition really. Japan and Europe were destroyed by the war. China, India, and many others were coming out of colonialism. And a huge chunk of the world joined the communist bloc and didn't even compete.
So the US had no competition, which I think at one point was why it hit 50% of world GDP in like the 1950's.
But the second they had to compete with Japan, Germany, and now China they got fucked hard and China has completely turned them into whiny bitches now.
The only reason that Europe and the West became so powerful with respect to the rest of the world in recent centuries is because the industrial revolution gave them a technological advantage, which they exploited ruthlessly.
The only good things out of west is now people realize the importance of technology.
and they brought slaves over from Africa cause they were too fucking lazy to work the fields themselves.. just imagine you know... farming for your own fucking food..
To be specific it was neoliberalism that caused their demise, but both terms are interchangeable.
The title of the post finds the culprit in 'capitalism', this is superficial. Capitalism can take many forms and can exist in many political contexts, some forms and some contexts will turn capitalism into a tool serving a nation, others will have capitalism being a cause of rot.
A state with excellent state capacity allocated resources through credit control (the quantity of credit was determined by the BoJ and even firm level allocation was a subject of window guidance) and a dirigiste industrial policy (mostly thanks to the MITI).
Japan re-formed itself using capitalism. In three decades, after successfully exploiting the naive liberal trade system set up by the west, Japan was ready to become the largest economy in the world with a small fraction of the resource endowments of the incumbent.
Of course, this would mean that were it not for Japan being militarily occupied, the economic power would easily and certainly be converted into military power and place japan in a relative geopolitical position better even than the one it enjoyed at the height of its extension during WWII.
What failed Japan was not capitalism, but a single error and a few bad (treasonous) actors. The single error was that the Japanese state as a whole, and especially the people in leadership, gradually forgot about the key to the design of its system - credit control.
Meanwhile, a handful of specialized BoJ bureaucrats overseeing the details of credit control of course never forgot about its workings and importance, then abused it to gain power and become independent from the state by, with the help of their friends in the IMF and the World Bank, creating a succession of economic problems.
The political leadership, no longer understanding the key role of these bureaucrats, was unable to find the causes for Japan's woes, much less the solutions. This is now a mistake that any state can learn from and avoid become a victim of.
The problem of Europe is a bit different. Europe does not exist besides a number of supranational institutions which manage what used to be a simple customs unx while overseeing the payment of bare-minimum de-industrialization compensations from productive net-exporting nations of specialized manufacturers to soon-to-become wine-and-sun net-importing nations of chambermaids and garçons where the specialized manufacturers of the previous group of countries come to live a few weeks every year like severely sunburned princes among the european rabble.
Anyway, I didn't intend to write this much but whatever... Best regards from an European admirer.
he'd probably be one to browse reddit lol
but no, just a reader. probably should have given the man a citation or something
China: Look at me, I’m da captain now
The power of socialism
Tbh Europe’s problem isn’t only its economy it’s low birth rates. China already started with the two child policy and will soon most probably start encouraging higher to very high birth rates to boost its consumption economy 20 years down the road since it takes 20 years to raise 20 year olds.
Europe can’t do that it’s already too late to do that in Europe it’s not for China. You are in the sweet spot regarding the demographic charts where it’s still possible to avoid becoming a grey population like japan, Korea , Europe, and others.
China will most probably start focusing on increasing birth rates within the next 5 to ten years.
growth is only important to the point where china can resist western hegemony. we don’t need to fall into a capitalistic “growth is the single most important thing” mindset.
Capitalist economies stagnate because capitalist requires endless growth to even exist.
OK, but has there ever been a successful natalist policy on the scale you're talking about?
Carrot and stick method incentivize what you want and punish what you don’t want.
The principle is sound, but I don't see it working in real life. In a modern economy, it's hard to offset via incentives the time and money that couples sacrifice when raising a second child. It's easier to convince couples to not have a child (and thereby gain more leisure time and money), than it is to have another one.
Singapore has a very extensive incentive system and it hasn't done anything for the birth rates of native Singaporeans. Their system stays afloat by actively encouraging skilled immigration.
China isn’t Singapore Singapore is a tiny country that’s extremely expensive to live in with no ability to give people cheap houses to own not rent for 99 years.
China can do things that Singapore can’t. I don’t want to talk about them but when the decision is finally made those measures will be put in place harsh punishments for the people who doesn’t breed enough and generous rewards for people who do.
Get creative in what those things can be. Any social norms can be reversed if the correct incentives and punishments are put in place. What people like or want doesn’t matter the incentive system is what determines the long term final outcome. The punishments will mean people are poorer when they have less or no children that’s the incentive system I talk about.
Yes. Finally. These will end american hegemony and imperialism.
The EU economy is going to take a bigger hit now that its two largest economies France and Germany have gone back into lockdown, although its only two weeks.
Monopolies and rot are endemic to capitalism and are the inevitable stages of capitalism. That is why the CPC nationalizes corporations.
This is simply semantics. We are in agreement. My point is governments are the cause of stagnation, not the systems themselves. Putting blame on an economic theory removes accountability from the government, which is what corrupt politicians desire.
I thought China already surpassed USA in economy during 2020?
In nominal GDP, these will be the approximate numbers in 2020:
China = $15.5 trillion and
中国 = 15.5万亿美元，
USA = $20 trillion
美国 = 20万亿美元