16/11/2023
What are the mixed pictures globally if you look at China and the US?
https://www.quora.com/What-are-the-mixed-pictures-globally-if-you-look-at-China-and-the-US/answer/Kam-Wong-40
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Kam Wong
Investor (2000–present)Just now
The above two pictures were put out before the civil strife in Israel. If you impose the effects of the war in Israel onto them, then they will give more realistic pictures. The GDP forecast for China is spot on at 5.2% for 2023. The GDP growth of the US is a tad higher at 2.4% against a forecast of 1.4%.
China's GDP in the first three quarters of 2023 reached a total of RMB 91.3 trillion (approx. US$12.48 trillion), growing 5.2 percent year-on-year. In the third quarter alone, the year-on-year GDP growth rate reached 4.9 percent, beating the median forecast of around 4.6 percent.18 Oct 2023
US GDP FOR 2023: This outlook is associated with numerous factors, including elevated inflation, high interest rates, dissipating pandemic savings, rising consumer debt, and the resumption of mandatory student loan repayments. We forecast that real GDP will grow by 2.4 percent in 2023, and then fall to 0.8 percent in 2024.
China has embraced Peace as the basis of its mode of operation. It has invented 5G/6G and released for sales the new Huawei Mate 60 Pro phones in September 2023. It had a world wide explosion in sales. This phone was the first satellite phone with the Harmony OS which can incorporate the Internet of Things. It was almost 100% made with Chinese electronic components with no US input. This shocked the US and made US Commerce Secretary and President Biden feeling very angry and uneasy.
HUAWEI Technologies has sold 1.6 million of its Mate 60 Pro handsets in six weeks, a research firm said, as the Chinese technology giant defies a smartphone slowdown to enjoy strong demand in its high-end smartphone renaissance.19 Oct 2023
Then, the sales figures of EVs came as a surprise shock to all the Gas vehicle old industrial empire because it signals the beginning of the end of gas vehicles. The breakthrough in the battery pack charging time to 10 minutes for a distance of 400 km by CATL just about shock the old industrialists in the US, Japan, Germany, France, Italy, S. Korea etc.
CATL's new EV battery charges 400 km range in 10 minutes
Tesla supplier and industry leader beats rival's pack by 30%, eyes midmarket
https://asia.nikkei.com/Spotlight/Electric-cars-in-China/CATL-s-new-EV-battery-charges-400-km-range-in-10-minutes #:~:text=GUANGZHOU%20%2D%2D%20Chinese%20automotive%20battery,more%20affordable%20electric%20vehicle%20models.
Canalys’ latest research shows worldwide sales of electric vehicles (EVs*) grew by 49% to 6.2 million units in H1 2023. EVs constitute 16% of the global light vehicle market, marking a significant increase of 12.4% from the first half of 2022.
If this astounding sales of EVs were to persist in the coming years, the replacement of the gas vehicles will be inevitable and irreversible. This will cause absolute havoc to the old industrial structure. The US and the G7 countries must scramble to adapt and evolve with the new disruptive tech innovations to maintain their industrial status, less they fall behind! The US is very reluctant to change judging by its banning of Huawei from the US. It may similarly banish EVs on National Security grounds!
Thorium Power Station: The Chinese had just given permission in June 2023 to operate its first Thorium Power Station. If this pans out as expected, it will be built all across China. The electricity generated will only cost a tenth of the US electricity prices.
There are more items that China is providing for the world like Bullet trains, drones, Quantum computing, AI, Robotics, Digital currency etc. The lists go on and on. China is definitely having its renaissance whether the US likes it or not. It will power on and make itself useful for the world and make life more pleasant for all of mankind. The above three technologies will change the industrial structure of the world. The US and G7 countries will scramble to adapt and evolve for survival in the coming future.
The US, on the other end, has embraced war, tariffs, sanctions and hegemony as its political philosophy. It has just added the Israeli internal civil war to its lists of proxy wars with all the Muslim nations. It just printed a lot of fiat money and gave them to the US Military Industrial Complex to manufacture armaments. It would send all its old stocks of armaments to Ukraine and Israel to fight and kill while sending them the bills for the armaments. It could then kill two birds with one stone. Its GDP growth would go up as long as the wars do not stop. Europe had been dragged into the war in Ukraine and they are spending more money on arms too. All the G7 and European countries are spending more on arms that are beneficial to the US economy. It too has a very buoyant GDP growth much like China!
It looks like both China (peace) and the US (war) are doing well in what they do. They are both successful in 2023! The question down the road should be, “are their GDP growths sustainable?” If war prevails and more wars are on the horizon, then the US model for war may perform better provided that there is no nuclear Armageddon. On the other hand, if more countries opted for peace, following the Chinese model may be preferable and sustainable.
In summary, the US embracing War as a modus of operation is doing well in 2023 with a growth of about 2.5%, higher than the forecast. China embracing peace as its mode of operation is also successful with a GDP growth of 5.2% as per forecast. If current wars are maintained and more wars are on the horizon, the US economy may do better because its Industrial Military Complex feeds on wars, deaths and destruction. However if more countries opted for peace, then the Chinese model is more sustainable with new inventions and tech innovations making life better for humanity. The US warmongers basically had all the white European nations on its side. The Global south are fighting for the chance to have better lives and they prefer the peaceful Chinese model.
Kam Wong's answer: The above two pictures were put out before the civil strife in Israel. If you impose the effects of the war in Israel onto them, then they will give more realistic pictures. The GDP forecast for China is spot on at 5.2% for 2023. The GDP growth of the US is a tad higher at 2.4%...
