JuanP wrote:"'World has never seen this much wealth created in just one year': China tops US in number of dollar billionaires"
https://www.rt.com/business/516970-chin ... lionaires/
China now has more billionaires than any other country in the world, including the USA. China also minted more new billionaires in 2020 than all the rest of the world put together. China also experienced more economic growth in absolute terms in 2020 than any other country in the world.
I guess one could say that Trump's trade war against China was a complete and utter failure. I expect Biden's ongoing trade war against China to be a complete and utter failure, too. China has developed and grown to a point where no country or coalition of countries in the world can prevent it from becoming the largest economy and most powerful country on the planet before this decade is over.
jedrider wrote:China's Efforts to Recruit Semiconductor Talent Hit by Taiwan Ban
https://www.tomshardware.com/news/taiwanese-ban-hits-chinas-efforts-to-recruit-semiconductor-talent
I think China erred in destroying the independence of Hong Kong and threatening Taiwan. The price they will pay is that Chinese expats will not want to return.
Hexenshexshul wrote:China's going down.
JuanP wrote: Reversing a negative trend in fertility rates is difficult due to the massive economic changes that would require, but that does not mean Beijing does not have a toolbox to mitigate the problem.
The first one is the growing role of automation and robots in factories. As wages rise in China and the economic structure shifts, manufacturing is already becoming a less desirable career; strides forwards in artificial intelligence and automated manufacturing are already surging in China’s factories. Achieving that is a key part of the country’s industrial strategy, negating claims that its economy will remain strictly reliant on manpower, especially when it is becoming more educated and skilled.
Newfie wrote:Whether or not China is going down remains to be seen. They do have some big challenges.
Very small arable acreage per capita
A decreasing and aging population meaning a drop in workers and government income
Need to import several commodities such as soy beans and coal which will make it difficult to sustain a rising standard of living
A widespread assumption that their star is rising, meaning citizens will be upset if/when the standard of living falls.
Everyone has problems, just how bad China's problems are remains to be seen.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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