After more than 30 years of spectacular and stunning economic growth, China has finally passed Japan and has become the world’s second economy after the United States of America.
Although expected, the news has been received with awe and amazement around the globes due to the fact that China’s evolution is being imprinted in reality and that it is not just a myth. China’s economy, valued at around 1.33 $ trillion surpassed Japan’s 2 days ago, which was valued at about 1.28 $ trillion.
It is with even more amazement that economists report that China will pass the United States as soon as in 2030 as an economic power. China far from being a developed, established country; having a per-capita rate of 3,600 $, developed countries like Germany or the US have a per-capita rate of 40,000 $. In Japan, the news was received with grave reluctance. Japan’s population known to have been dramatically aging has hindered the country’s development and has made Japan fall short of its expectations as it had been forecasted that Japan would be the 1st world economic power in around 2000.
Me personally, I think that China has a bright future ahead of itself and that undoubtfully the communist party has done a good job of bringing the country towards the light of money. However, with growing power comes growing responsibility and who knows if the people will be satisfied with a communist regime when there is more money to make in a capitalist government. We will have to wait a decade or two to find out.
1 comments:
China will be a huge playing in the global market in the years to come. They still have millions of American dollars that are in debt to them, but the richness of the country is still astounding with such a low GDP per Capita. I think that China should distribute some of its wealth around as they are very capable to do that now.
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