Views: 30155|Replies: 10

HSBC: China to be world’s biggest economy by 2030 [Copy link] 中文

Rank: 8Rank: 8

Post time 2018-9-29 10:11:54 |Display all floors

(People's Daily) China will overtake the United States to become the world’s biggest economy by 2030, economists at HSBC Holdings Plc predicted in a study published on Tuesday, Bloomberg reported.

The study also forecasts that China will remain the biggest contributor to global economic growth over the next decade.


It predicts China’s GDP will increase from $14.1 trillion today to $26 trillion in 2030, while the GDP of the US will grow slowly from $20.4 trillion to $25.2 trillion.


The forecast stands in sharp contrast to the claim made by US President Donald Trump last month that China was no longer on track to surpass the US in a very short period of time. However HSBC’s prediction is backed by another made by the International Monetary Fund in July, which also said China could become the world’s largest economy by 2030.


The HSBC study also said emerging markets are expected to contribute to 70 percent of global expansion by 2030.

Use magic tools Report

Rank: 8Rank: 8

Post time 2018-9-29 16:21:13 |Display all floors
re: " the claim made by US President Donald Trump last month that China was no longer on track to surpass the US in a very short period of time."

And for that claim I don't even blame Mr. Trump...

    After all, the only Nation which was able to contradict his saying was old ENGLAND.
The British empire was so extensive that there was always one part of their territory that was in daylight, therefore the sun never set on ...

   Only the Middle Kingdom was and is able to challenge this...

Matter of fact it is not the US to be held responsible for this but their close knit political ties to a certain Nation

Use magic tools Report

Rank: 8Rank: 8

Post time 2018-9-29 17:02:28 |Display all floors
In terms of Parity Purchasing Power (i.e. PPP or how much your banknotes are able to buy in each country), China had already surpassed the U.S. three years ago.  All this talk about surpassing is meaningless because it doesn't reflect reality on Ground Zero.

Use magic tools Report

Rank: 8Rank: 8

Post time 2018-9-29 18:54:19 |Display all floors
Actually GDP is hardly the best measure to evaluate the economic strength of a nation.

Ponder this:  one person spends ten dollars buying a knife generates the same economic activity as five people each spending two dollars eating from a food stand.

What the GDP is measuring here doesn't add one iota of economic strength to the nation.

Use magic tools Report

Rank: 8Rank: 8

Post time 2018-9-30 10:23:06 |Display all floors
wchao37 Post time: 2018-9-29 18:54
Actually GDP is hardly the best measure to evaluate the economic strength of a nation.

Ponder this: ...

GDP is for the common masses...
  In reality, minority have become richer, the majority have grown more miserable...
   GDP is a tool created by uncle Sam to mask inequality...
     The U.S. economy, the world is told, is booming. Gross domestic product is up by more than 3%, the stock market is soaring and unemployment is down to a 17-year low of 4%.
   Smart people say that GDP should never be confused with well-being of people and we're mis-measuring our lives...
In reality, many Americans have simply given up looking for work or are working in part-time jobs...
   I think it's called 'Monkeys Reject Unequal Pay'.

Use magic tools Report

Rank: 8Rank: 8

Post time 2018-10-1 12:37:01 |Display all floors
emanreus Post time: 2018-9-30 10:23
GDP is for the common masses...
  In reality, minority have become richer, the majority have grown ...

Nothing to be proud of if China's GDP reaches past that of the U.S. ?

Well, even if it is hardly the best measurement (lesser in value than PPP) of economic growth, it is still the commonest parameter used to gauge the relative economic strength of a nation -- at least in the commoner's mind.

Use magic tools Report

Rank: 8Rank: 8

Post time 2018-10-1 12:37:18 |Display all floors
Despite its current quarterly 4.2% GDP growth, it is no rumor that America has lost its confidence.  No one is interpreting the 4.2% uptick as a harbinger of good times to come.  

Even Hollywood is becoming almost muted in its customary braggadocios.

We used to see Hollywood films like "The Ugly American" at a time you didn't have to be politically correct or when the country wasn't afraid to poke a joke at itself.

Now they are becoming very sensitive and acting extremely hostile to even minor challenges from smaller powers -- like slapping 50% tariffs on Turkey for imprisoning that pastor.

I think this is because they had literally gotten away with murder in their genocidal wars against the Native Americans who physically and genetically resembled East Asians, and such success encouraged them to expand that mode of behavior around the world especially at a time when an East Asian power like China is coming to the fore.

The psychological component is very pertinent and important in this fight.

That's why when our FM stood on that UN podium explaining to the world that China has no intention to pick a fight with America and doesn't want to be the Number One Player, it's not going over well to the world's audience.

I mean you can say that in private to the real-estate man but whether China wants to be Number One is not up to her to decide.

After all, there is such a thing called Megatrend and there is nothing wrong with having the courage to achieve its laudable goal of doing more to help the destitutely poor and landlocked nations to fend for themselves.

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.