CHINA Overtake US Economy: What Next?

China’s economic transformation began in the late 20th century, but it has accelerated remarkably in the past two decades. From 2000 to 2020, China’s GDP grew from approximately $1.2 trillion to over $14 trillion, making it the second-largest economy in the world. This growth was driven by significant advancements in industrial production, which saw China becoming the “world’s factory.“ By 2021, China accounted for nearly 30% of global manufacturing output, surpassing the United States. China’s progress in science and technology has been equally impressive, positioning the country as a leader in several high-tech sectors. In telecommunications, Huawei has become one of the world’s leading providers of telecommunications equipment and smartphones, and China leads in 5G technology with over million 5G base stations by the end of 2021, accounting for about 70% of the global total. In artificial intelligence, China is heavily investing with the goal of becoming the global leader by 2030. The government’s numerous AI development programs have resulted in significant advancements in AI research and applications. China has also made significant strides in space exploration. The China National Space Administration (CNSA) has launched several successful missions, including the Chang’e lunar exploration program and the Tianwen-1 Mars mission. In 2021, China successfully landed its Zhurong rover on Mars, making it only the second country to do so after the United States. In renewable energy, China is the largest producer of solar panels and wind turbines globally, leading the charge in renewable energy adoption. As of 2021, China accounted for about 36% of the world’s renewable energy capacity. China’s rapid rise has positioned it as a key rival to Western countries, particularly the United States and the European Union, spanning economic, technological, and geopolitical domains. The trade war between the US and China, initiated in 2018, highlights economic tensions, with both countries imposing tariffs on each other. Concerns over China’s technological advancements, particularly in telecommunications and AI, have led the US to restrict Chinese tech companies like Huawei from accessing key technologies and markets. Additionally, China’s Belt and Road Initiative (BRI), launched in 2013, aims to enhance global trade and economic growth through massive infrastructure investments, which Western countries view with suspicion as a means for China to expand its geopolitical influence. In this video, we will explore the limitations imposed by the West on China and the subsequent retaliatory measures taken by China.