China dethrones the Americans by becoming the first economic player. This is now the example
to follow around the world.
PRESIDENT DONALD TRUMP GETS WRONG WHEN HE ASSURES THE UNITED STATES IS
ALWAYS THE KINGS OF THE ECONOMY
Donald Trump repeats everywhere that the United States is the first economic power in the world and that
China is second. It's wrong.
China is the world's leading economic power. And the gap increases from year to year
year in his favour. This new power changes the world.
We must calculate the importance of China in purchasing power parity. That's what the CIA itself says.
In purchasing power parity, China's annual GDP is about $28 trillion, or
about 20% of the planet's economy.
The United States ranks second, with around $21 trillion.
IN AND OUT
China is also the first exporting country in the world. It exports each year for 2500 billion.
The United States is second, with exports of 1600 billion.
Contrary to what one might think, China is also a major importing country. She receives from
abroad for 2100 billion products, making it the second largest market in the world, just
behind the United States, with imports of 2400 billion.
BIG INVESTOR
China's global investments amount to more than 3000 billion.
They mainly invest in Europe ($396 billion), sub-Saharan Africa ($306 billion) and West Asia ($294 billion).
billion). Canada is the fifth country that receives the most Chinese investment ($56 billion), behind the
United States, Great Britain, Switzerland and Brazil. China mainly invests in infrastructure for
transportation, mining, agriculture, and high-tech and finance companies.
INCALCULABLE CONSEQUENCES
Thanks to its new economic power, China is becoming the example to follow for many countries. The
United States, on the contrary, are increasingly seen as a counter-example.
If China continues on its way, its currency will supplant the US dollar as the currency of
reference. With catastrophic results on the United States, which will no longer be able to finance its debt
so easily or withstand global crises so easily.
******************** A SERIES TO FOLLOW Loïc Tassé is an expert on Chinese issues. Since Saturday he
signs a series of analyzes which will continue tomorrow.