This is a tale of two economies on the rise-one of it is struggling to maintain its place. The other, however, is poised to soon take over and be the main economy.
One visit to China is able to tell anyone what they need to know; it is a country on the rise. There are a lot of new structures, according to Fox News, as infrastructure has taken main priority in all the months since the trade dispute between the US and China had made things difficult. If the indicator of progress is maglev, high-speed trains, China has several.
Perhaps, it's the support of its people for its own products that had made it go the distance. It can be remembered that China got undeserved attention for producing knockoffs and substandard products. Now, their universities are producing STEM graduates at a steady rate. Even Chinese president Xi Jinping has allowed himself to dream, with the aim of investing in artificial intelligence as well as producing self-driving vehicles at an astounding rate.
Bloomberg has a different opinion. Power in the world can be measured in different things-you can choose to look at it through diplomacy, the culture of the country, the military prowess, or the economy. China and the US are currently absorbed in an ugly trade spat, but looking at it, China's become the largest economy of late.
Economists have lately been taking a look at a country's purchasing power parity (PPP) rather than at its gross domestic product (GDP). In terms of GDP, the US is the undisputed leader. However, the PPP clearly displays a different picture; it is China which is the clear leader here, with the US coming in at a close second.
China has many things going for it. Its citizens aren't included among the richest in the world; however, the sheer size, coupled with the blinding speed at which its economy is rising, puts its citizens in a position to soon count themselves among the most progressive and richest in the world.
The trend is working against the US right now. China may become the 'US' of the future as the US is currently trying to get its bearings back. China is investing in the future, while dysfunction, passivity, and confusion reign in the US' economy.
