👉China to Overtake US as World's Top Economy in 2028

👉China to Overtake US as World's Top Economy in 2028 China will overtake the United States to become the world’s biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the pandemic. The Centre for Economics and Business Research said in an annual report published on Saturday. Of course. China is already the largest economy in the world by GDP PPP. It's only a matter of time before they overtake the US by nominal GDP as well. Now that we got Joe Biden, we probably can get this done in 2021. Bye-bye jobs. Letting about 10 million South Americans in. And about 7 million Chinese in ;because we care about the world. Biden will give China our part of the economy with a smile. China’s latest stats show exports rose slightly, imports were down, and the economy is expected to tank 6%. 90% of businesses are now open and operating, unemployment is recovering, and it all depends on exports and domestic consumption for recovery. Right now, domestic consumption is soft. China’s new infections are caused by imported cases primarily from Russia at this time. Regarding pushing other countries to China, I think it is slowly happening, especially in Asia, Central Asia, Africa, and the Middle East. The Belt and Road Initiative, BRI is the catalyst for increasing trade with China and others in the BRI. China’s effort to help other countries with medical aid and medical team during the pandemic is giving China added soft power at a time the US is Missing in action. Up until the year 2000, the US was a leader in most areas of production. Iron Ore, aluminum, steel, textiles, and more. But now, like General Electric, we are gone and only a shadow of a once-great nation. We were not defeated by an outside force but destroyed by our own government. The federal reserve destroyed the USA. At this point in time, it's not news that China's economy has seen an enormous increase in the last couple of decades, showcasing a big economic and political threat to huge world powers, especially the United States of America. Despite the many influential views and opinions on this hot topic in the media, the facts and statistics are the only things that matter discussing, which is why in this video we're going to explore how China's economy grew so fast in the first place talk about what this growth means to the USA and finally, debate whether China will surpass the USA or not all by looking at facts and statistics. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. What will happen once China overtakes the U.S. economy by 2028? Current trajectories suggest that China will overtake the United States as the world's leading superpower by 2028. In reality, China has already taken control of our treasury. When you look at those bonds issued by the US treasury, a huge portion of our treasury bonds is actually held by the Chinese government. By using those companies that look normal but are actually backed by the Chinese government, the actual percentage of the bonds they hold is more than 50%. So it doesn’t matter if their economy looks smaller than ours. The truth is that financially speaking, they already overtook us after 2008. So what will happen? It’s simple; China will use their money to influence politics, which consequently gave them benefits, like trade deals, taking more info from the US government, classified technology, etc. All those things that can make them stronger as a nation and their ultimate goal are to make communism take over the world. Not just the United States, a lot of countries are suffering from the same situation. Even Australia is in a mess. China is playing an incredible play. They want the United States for its natural resources. They'll burn our fossil fuel and use our farmland to feed their own. And we will pay for it. Already doing that in many markets; concrete, lumber, tech, manufacturing. Thanks to the politicians for helping them. Aided by our do-nothing politicians from both parties who have sold their souls to the devil. China united all of Asia together at the same time, building the new Silk Road into the Middle East and already expanding into space with a 6G network and space station. While America spent over $25 Trillion on useless wars for the past two decades. Our politicians sold us out, not China. We started the trade war, not China. We pulled out of the TPP, not China. America will never want to accept that our government is the one screwing us over, so we keep blaming China. If China were to succeed, it would be devastating for the United States. The United States has built its model around the US dollar, which is the world's reserve currency. This gives us an exorbitant privilege, and it's as if the rest of the world is paying for America's standard of living. If China supplants the United States, the U.S. dollar will not last long as the world's reserve currency. This would have enormous impacts on the United States. It becomes clearer why the US will do everything it can to prevent the emergence of China at its level by 2028. The Cold War could even end up becoming a real war one day in the future. This is the worst-case scenario, but it must be considered. For the last 5000yrs, China was ruled by dynasties, or in civil wars,but never a democracy.So it is basically only known authoritarian rules. Successful Chinese dynasties like Han, Tang, Song, Ming, and Qing lasted an average 300 years, so the CCP can easily last another 200+ years . Chinese economy for most of the last 3000 years was based on mercantilism, not capitalism, and it did not rely on population demographics. They rely on knowledge to arbitrage successfully. Chinese are tremendous savers,bank deposits have grown to $29T in the last few decades. Chinese debt is financed by domestic savings, and external debts are only $2T. Unlike the US, whose external debts is over $27T because local saving rates is less than 10%; Chinese savings rates are 40%, and deposits are still growing. All Chinese dynasties needed to do is provide stability and cut corruption for growth. Chinese leaders are selected to manage China, not the other countries. The Five-year plans of China are basically the employment contracts for each term of the Politburo. When Xi was initially selected, the top contract items for him to perform is anti-corruption, economic growth, and environmental policies. In his second (i.e., current) term, anti-poverty policies kicked into high gear. The next Chinese Politburo performance contract is being drafted right now, and we know the emerging new theme is reducing inequality. The main international commitment is to get to carbon neutral by 2060. That’s the big thing. In a sense, the Chinese government is the most predictable in the world. They publish their Five-Year-Plan like clockwork, and then do what they say they would do. The Plan takes two and half years to complete. Basically, in Year 3 of the previous plan, the central government meets with the provincial governments and says, how are we doing with the current Plan, and what problems do you see surfacing. In Year 4 a draft is submitted to the People’s Congress for approval. In Year 5, all provinces refine their portions, and the central government aggregates into a master plan, which is then submitted to the next Congress. The complete Plan is usually 20 - 30 pages of text and 20 - 30 pages of spreadsheets. That’s it. Everybody can just read it, and it’s good for 5 years. So there’s no need to speculate at all. The way things are done, is that these other governments, especially those in Asia and along BRI countries, take the new 14th Five-Year-Plan when it publishes, and go through these 50- 60 pages of documents and figure out where they can be the supplier to which industry, and how to make money and trade accordingly. So why is China the fastest-growing economy? Traditional values and Communist government. The Chinese is a people who value education extremely high. Young generations’ education is the top family concern. Parents would sacrifice their own free time to activities that help improve their children’s school performance. When Chinese parents have school children, they basically have lost most of their free time. Family-oriented collective mindset. When Chinese workers get their salary, they would try to save as much money as possible for the family use, rather than buy what they long for. Personal desire is second to the family demands, to children’s future, at least before they can support themselves. So China has a high saving rate, and as a result, an astronomically big deposit bonanza. All this play an essential part in economy growth, when it turns into loans. Chinese indifference to political activities. The Chinese have far stronger interest in making money than participating in political campaigns. This phenomenon and attitude can be seen in any Chinese community, at home and abroad. Even if there is oppression targeting Chinese group, as long as it is not too suffocating to make a living, they would work hard with their hands and brains, rather than go to street. Communist part: CCP know land is the key to the inequality, so they reshuffled Chinese society by implementing a thorough land reform. Every individual in countryside now has their own land, but only nominally, because all land belongs to the country. However, peasants still can rent it in a way like owning it. It is complicated. As for not owning the land, for example, no land can be sold to others; you can only rent it to others. The benifits of this policy are multiple. Land will not be accumulated by small number of people. And the government can rent the land or take back the land by giving a large lump of compensation money and usually at the same time, offering those countrymen townshipHukou. After that all infrastructure can be carried out smoothly, while people can also get long term economic benefits. CCP are all strict atheists and think science is the first productivity of a society. But how to achieve it? Through education. When China was dirty poor, the government encouraged elite education, and for the majority poor illiterate adults, there were free classes to attend, and the policy for eliminating illiteracy was sort of forceful in some regions. After those adults had worked for a whole day, they were required to attend some evening school. A university student, till 1980s, could get a monthly allowance, which was higher than a peasant could earn through hard work. As China now is not that poor, people still only need to pay several thousand RMB a semester, and all young people are encouraged to have a higher academic pursuit. Education is heavily funded by the government, so Chinese young people can enjoy a cheap university Education, but of an increasing quality. This education system has provide huge talents to the economic development. In my opinion, education should be a nonprofit cause, but not a business. It is a shame to a country if its young people can't afford a high education for financial reasons. Liberation of women. When CCP army was a weak localized power, they spread the ideas that women and men should be equally treated. At that time, in the richest US, women were striving for women’s suffrage. So in China, women enjoy more rights than in the west; forget those strange westerner-made rankings. Thanks to the liberation of women, China now has a huge women work force, with a proportion higher than most countries. Their participation in work, with their creativity and power, is another significant reason why China is developing so fast. By working with men equally, they have developed an independent mentality and self-reliant mindset. However, after the reform and opening-up policy was implemented, many women began unconsciously to objectify themselves in following west trend. They prefer to stay at home, get money from husbands and enjoy being a housewife, rather than go on their career. Fortunately, they are only a small group of people and this is not like to be a mainstream trend. Also, some may say Chinese women have less political rights than their counterparts in other countries, because less women in China are involved in politics than the west, which is true, but they may have neglected an interesting fact that China, in the last 30 odd years, has developed a largest group of self-made female billionaires. This number in China is higher than the rest of the world combined. Chinese women seemingly have less interest in politics but more motivation in business, and China provides a great environment for them. Another cliche reason is that the CCP government organically integrates macroeconomic plans with free market economy. China looks not like typical socialist society, with capitalistic features than most capitalist countries. China encourages entrepreneurship, competition and indeed provides all sorts of preferential policies to help incubate startups. But in social welfare, medical care, education, financial and other important sectors, such as railway system, governments and state-owned companies play the essential role to guarantee a more equal society. Also there are reasons like hardworking and highly disciplined work forces, stable and safe social environments, etc., but all of them more or less related to traditions or CCP governance. Whether we like it or not ;China is the future wolrd power. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my backup channels; I do upload videos there too. 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