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:
(1) China is showing its true — and ugly — colors again
(3) Covid or covert? How Beijing concocted an election delay to reshape Hong Kong’s legislature
