Rise of China

Rapid Rise of China

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Rise of China

Rise of ChinaWhat is driving the rise of China? How long can China continue to rise, and what can stop it?

The speed of China's rise has been blistering. When Deng Xioping took the helm of China in 1977 after Mao Zedong's death and shifted China onto a path of economic development, China was a poor nation on bicycles whose GDP was less than 10% that of the United States.

By 2009, China's GDP had risen past Germany's to become the world's third largest. By 2011, it had risen past Japan's GDP to become the world's second largest. Today, only USA's economy remains larger than China's, or does it?

USA and China's 2016 GDP were $18.6 trillion and $11.2 trillion, respectively. But goods and services cost less in China than they do in USA. Based on Purchasing Power Parity (PPP) that adjust for these price differences, China's 2016 GDP (PPP) of $22.1 trillion was 19% larger than USA's $18.6 trillion. When the fact that 20-30% of China's economic activity is underground and unreported to the government is also taken into consideration, the true size of China's economy may already be 40-50% larger than USA's.

Is the rise of China likely to continue?

Consider the following:

-  China's 6.5% GDP growth rate is more than double USA's 2.4% GDP growth rate.

-  While Europe drowns in debt and America strains under the weight of its $20 trillion national debt, now larger than its GDP, China is the world's largest creditor nation, with over $3 trillion in foreign currency reserves to invest.

-  While USA annually spends more than $600 billion on defense, China spends about $200 billion on defense and spends the rest on its infrastructure, which already surpasses America's in some sectors. China's bullet train network, for example, is longer than the bullet train networks of the rest of the world combined. A 700 mile journey between two US towns without airports takes all day, door-to-door, whether driven or flown and driven. A similar journey in China takes 4 hours in a comfortable bullet train and costs $60.

-  Chinese universities annually produce four times more graduates in STEM (Science, Technology, Engineering, Mathematics) fields, considered the educational engines of modern economic growth, than US universities (in 2016, 1.3 million vs. 300,000), and many of the graduates from US universities are Chinese (see CSSA).

-  China has the experience and the will to become a superpower. While the West sees China as a backward nation on the rise, China sees itself as the historically dominant power in Asia, if not the world, that is stirring from a relatively short 400-year nap to reclaim its traditional position atop the world.

-  China is a nation that is becoming increasing Christian (see Christianity in China). In the past 2,000 years, every nation that heeded the True Gospel prospered. 

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