A new report from the Center for Economics and Business Research says that China will displace the United States as the dominant economy on the planet by 2028.
The London-based group also claims that, alone among the major powers, China has shrugged off the coronavirus and will expand its economy by 2 percent in 2020.
Don’t believe either claim.
In 2011 nearly everyone was predicting that the Chinese economy would eclipse America’s by 2020. Yet today the US economy, at $21 trillion, remains half again as large as China’s $14 trillion.
The economists got it wrong then because they took Beijing’s exaggerated claims of a 6.5 percent annual growth rate at face value.
They are making the same mistake today in believing — simply because its leaders say so — that China is the sole exception to the global economic slowdown.
Someone needs to tell these naïve bean counters that virtually all of China’s data is fabricated — even down to the number of children in school — for one simple purpose: to make Communist leaders look good.
[Interesting Read]
See Also:
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(3) Covid or covert? How Beijing concocted an election delay to reshape Hong Kong’s legislature
(4) China’s Wang says US relations at ‘new crossroads’
(5) Europe hurried to sign China pact to preempt Biden