In 2022, China's per capita gross domestic product (GDP) reached 1$270,000, compared to $7 per capita GDP in the United States$640,000. Let's say that China will be able to reach half the level of the United States, that is, about 3$80,000, then China's total GDP will reach a staggering 53$2 trillion, more than double the current GDP of the United States.
This is a challenging idea, but not impossible. In fact, China has already set an ambitious goal at its high-level meeting in October 2020: to bring the country's per capita GDP to the level of a moderately developed country by 2035. According to international standards, the GDP per capita of moderately developed countries is between $30,000 and $60,000. Even at a minimum of $30,000, China's total GDP will reach $42 trillion, which will be able to compete with the United States.
However, this goal is not without controversy. Some domestic opinions believe that a per capita GDP of $20,000 is already quite a good achievement. Internationally, many think tanks are more optimistic about China's economic growth. It has been pointed out that China's GDP may surpass that of the United States in 2030, and even a British think tank has advanced this point in time to 2028. But behind these seemingly optimistic **, it may not be all confidence in China's economy, but some form of "killing", to a certain extent, it is a kind of international pressure on China's economic development.
Faced with this situation, the United States, as a long-term global economic leader, naturally feels threatened. After all, the anxiety and nervousness of the United States, as a long-time leader in the world economy, is suddenly faced with a possible replacement. This change in the international pattern is not only related to the comparison of economic data, but also involves the rebalancing of global politics and economy.
Beginning in 1978, China implemented a policy of reform and opening up, when China's gross domestic product (GDP) was only 1,495$4.1 billion, while the GDP of the United States at that time reached 2At $35 trillion, China's GDP is only 6 percent of that of the United States36%。But in 2022, China's GDP soared to 17$96 trillion, compared to $25 in the United StatesAt $46 trillion, China's GDP has reached about 70% of that of the United States.
Naturally, such significant growth has attracted international attention. The United States, in particular, has taken a series of measures in order to limit China's development. They focus on three main areas: reducing imports from China, restricting exports of high-end products and technologies to China, and reducing production activities in China.
During Trump's time, the United States launched a "war of war" against China, but with limited effect. After Biden took office, these measures escalated further with more restrictive policies. For example, the U.S. slashed imports to China led to a 13-year decline in China's exports to the U.S. in the first 11 months of the year8%。
At the same time, the United States is also trying to restrict exports of high-end technology and products to China. Many Chinese companies, including Huawei, are placed on the U.S. Entity List and are subject to export controls. This has had a huge impact on Chinese companies. Huawei, for example, has seen a significant drop in mobile phone sales and company revenue due to lockdowns. In Longgang District, Shenzhen, where Huawei is headquartered, its GDP even fell by 7 percent in 20216%, while China's national GDP grew by 83%。
As a result, U.S. exports to China also fell by 7% in the first 11 months of the year. This series of events shows that the economic relationship between China and the United States is undergoing significant changes as economic competition and interaction become increasingly fierce.
In recent years, with the changes in the global economic landscape, the United States has adopted a series of strategies towards China to adjust the first-class and industrial relations between the two countries. One notable example is Apple's production line migration. Apple is ramping up production in India, moving some of its product lines, such as the iPhone, to India.
In addition, the United States is not only taking unilateral measures, but also trying to unite its allies to jointly counterbalance China. According to data for the first 11 months of this year, China's exports and imports to the European Union, Japan, South Korea and the United Kingdom have all declined, indicating that China's international** has been affected.
In the context of such changes in the international environment, the United States has surpassed China and become the world's largest power. According to statistics, in the first 10 months of this year, the total amount of foreign goods and services of the United States reached 574 trillion dollars, compared to China's total of 566 trillion dollars. This change broke China's position as the world's largest power since 2013.
In the face of this situation, China needs to further open up to the outside world, actively seek international cooperation, and at the same time need to pay attention to its own technological innovation and industrial upgrading. Increasing investment and support in key technology fields, such as Huawei, is the key to avoiding external constraints and realizing the transformation from a manufacturing power to a manufacturing power. Through such measures, China can better cope with international competition and challenges and consolidate its economic position.
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