Will The U.S. Remain The World's Leading Economy? | The Bottom Line
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- เผยแพร่เมื่อ 15 มิ.ย. 2024
- Economists believe the U.S. could lose its ranking as the world's leading economy in the 21st century, as measured by gross domestic product. But the U.S. is set to extend its run through the 2020s, on the back of slower-than-expected growth trends in China. Investors are now placing fresh bets on emerging markets as the working-age population booms in the Indo-Pacific.
Chapters:
00:00 Cold open
00:56 Ch 1 - United States
03:27 Ch 2 - China
06:17 Ch 3 - India
Produced by: Carlos Waters, Mark Licea, Jack Hillyer
Supervising Producers: Lindsey Jacobson, Jeniece Pettitt
Additional footage: Getty Images
Additional sources: S&P Global Intelligence, United Nations, World Bank
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Will The U.S. Remain The World's Leading Economy? | The Bottom Line
Doesn't matter. The working class is struggling the same around the world.
Life is getting harder and harder for lower working class…
@JuanVasquez-zz1mxso what flavor of capitalist kool-aid are you drinking?
Move to Jakarta, Indoenshia 👀
@JuanVasquez-zz1mxThe system needs and is built to produce fools. No matter how available healthcare education or any social programs mcdonalds and walmart employees will always be needed. Until agi at least, underpaid over stressed under valued and forgotten a valuable backbone to our economy is being hated and passed over due to "just be better" it is ignorant. If everyone is a doctor the world starves if everyone a farmer then we die of disease. All workers should have a basic standard of living. Anything else is beneath us as a species
@JuanVasquez-zz1mx Agreed. If one hasn’t a job, one must study and increase one’s worth in today’s job market. Production lines no longer make the grade; in fact automation will do those jobs better.
Depends on how you define economy. If you measure in purchasing power, China has passed US since 2014. China has been the top producer of the world for a decade. But if you add all those financial speculation, US is still ahead of the game. Luckly, the world still uses US Dollars so the financial game is productive.
its trending away from the dollar. so there is a ticking time bomb on the dollar
@@levelazn says who? The dollar isn't going anywhere globally.
@@Panthers89Fan9000000yeap. Cbdc, crisis, negative rates, 40% drop...
@@levelaznwishful thinking, the world reserve of US dollars as a percentage of total world reserves increases every year. Argentina is a top25 economy in the world and is completely switching their economy to the USD. Brics has existed for 15 years and still has done nothing but talk about creating a new currency someday, meanwhile India refuses to use rubles as a currency for oil purchases from Russia, instead uses USD.
@@Panthers89Fan9000000 Isnt going anywhere. Nor up or down. Thank you💕
Demographics dividend is possible when young people are educated and skilled. That means health care and education which produces skilled workers. For example, Nigeria and Pakistan also has a huge population but neither they are educated nor skilled. As a result, demographics dividend has become demographics burden with huge youth unemployment.
It's not that simple. When there's too many young and skilled, and not enough good jobs for them all, you'll also have high unemployment
The era of demographics dividend is over, it's the era of AI now.
@@diuleisinno it’s not. Ai doesn’t work that way.
And the main reason china surpassed the US in purchasing power was because of the US and the west, and I can bet u didn’t know that. It’s changing gradually tho because a lot of market is moving away from china and is going to India.
Anyway most probably india will overtake us economy in ppp before 2040 at current rate of growth.. But yeah living standard will still be far far below than that of us
Watched the whole video, couldn't say what i understood.
The way how GDP is calculated between US and China are quite different. By one measure, china generated and consumed 4x electricity than US.
Instead of discussing war and more war, it is better to discuss the country's economy and the welfare of the people
Most people in the US living paycheck to paycheck, GDP is an overrated statistic that shows how much an economy is growing. GDP tells you nothing about the citizens debt contrasted to their wealth.
Underrated understatement
@@moaziz23more like when people confuse geopolitics with standard of living.
Such a lie😂😂😂 if that were true how did people make it through COVID? You think two stimulus checks would be enough to save people living paycheck to paycheck?
Adjusted for purchasing power parity, which includes healthcare and transportation, Americans enjoy highest median income in the world.
@@dfdf-rj8jr Yes and at the
same time pay higher for goods and services than most countries because of high inflation costs.
A better short simplistic answer is: China is already the world's leading economy. Too bad it's not really a free market. We're just making these videos to make Americans and Indians feel better about themselves. Why even include India whose Nominal GDP is still $1.7 Trillion less than Japan's? India's economy, in the most optimistic scenario, is still 3 decades away from catching either the US or China.
this is just not true and you know it s not true even the cpp does not care about the ppp which is franckly irrelevant to look at the strenght of each economies internationally your propaganda is not working china had a chance they blew it during and after the covid the only threat to america now is india in the long run
We know that
ITS ALL ABOUT DEMOGRAPHICS, THE POPULATION IN CHINA WILL BE ONE HALF OF THE USA BY 2050
@@domcizek Only if you expect nuclear armageddon. Otherwise, their population will still be at least 3 times that of the US. Man, learn to read, or do the math!
Really? China looks like a free market more than US.
The audio quality on these teleconference interviews is horrendous.
Private sector will never sink it's capital on infrastructures like railways, highways, bridges, airports, and, if they invest, the user will have to pay very high. fees
China this year top export in motor vehicle especially EV. China dominated green energy industry, China dominated in ships building, China dominated in highspeed rail construction worldwide, China dominated in steel production, China dominated in world trade, China dominated in rare earth minerals, China also had their own commercial airplane for town domestic flight. In a way, China is really self-sufficient for China economy to continue to grow.
How is an export economy "self-sufficient" cheap labor = more manufacturing
@youtubetv1414 do you understand what the self-sufficient means?
@@victorhuynh4031yet China bends over to US sanctions. Why?
@@victorhuynh4031 China is the biggest importer of food. The country is unable to feed itself.. I don't see that as self sufficient.
@youtubetv1414 China is the biggest agriculture producer in the world. China has a large population to feed, China imported more agriculture for strategic reserves and provided China sustainable food supplies to feed 1.4 billion populations. Sometimes, you better not comment on something when you lack knowledge of it.
China should open up their economy for migrant workers. Sounds like a easy solution but it's much harder for a homogeneous country like China compared to the US which has been built by immigrants.
Short simplistic answer: Yes, US will remain the world's leading economy for some time to come. China still has restrictive politics, capital control's and declining population working against it. With US, consumption, minimal political interferences, capitalism & immigration will always work in its favor etc
Lol with a debt of 32 trillion sorry lol
@@user-ro8tv5nn3k which the government never has to pay-off in full...so yeah, nothing is changing anytime soon, with fiat based money & Fractional reserve banking. So buckle up for the expected booms & Busts that will be coming.
Assuming no major world changes like a world war, the US will be in a dominant position without much concern for atleast another 50 years
@@user-ro8tv5nn3kUS always had the highest debt in the world (Atleast last 50 years), so it’s not a big deal.
@@KRIPSYNODUTS yes it is when the debt increase up to 32 trillion.
Why is it so important to be No 1? If China earns 1 dollar more than USA, it's not like the US is instantly poor...also bearing in mind China has 4x the population of the us....they would need at least 4x the economy to match the US per capita.
They're getting there at a rapid pace.
Yes, orelse US will be in depression and having civil wars.
@@Patrick-387isnt that good?
Thats the stupidity when you directly compare US per capita with China or any other Asian country without understanding things are 7-10 times cheaper in Asia. They don't need per capita like the US.
$12k in China is equal to around $90k -$100k in the US or Europe.
@@Patrick-387 Not in the last 2 years tho
Hey! That last city shown was Salt Lake City! My city!
NOTHING LAST FOREVER.
Never Say NEVER 😎 Justin Bieber
Time will tell
time is on China's side, it has always been.
@@jglg7238no china demographics are a time bomb china won't overtake America in the next 20 years unless something major happens. China also has what happens after Xi to deal with soon ish.
USA has 300M and China has 1200M people. What are the numbers when comparable factors are divided by the top 300M of China??
The audio quality is quite poor.
The USA needs to deal with the biggest debt in the world 34 trillion dollars instead of just keep on printing money, stop big spending. If I keep on borrowing money just to pretend a lifestyle that I can afford eventually bankruptcy comes. Nothing last forever
true
The fact that you had to make this video says "the current leading economy" is in question 👍
MAObama 👀
Muslim just like China and pray China become superpower because they hate USA 🇺🇸
Yes, collective action is better than national action.
China economic challenges:
🟢Real estate sector
🟢Slower-than-expected pandemic recovery
🟣Ageing population (low birth rate, rising dependency ratio)
🟣*crackdown on private sector detering investors & stifling innovation
Note:
China still has the most advanced & complete supply chain, but lately, this has been under some challenges due to 1) the recent pandemic, 2) de-globalization
China is an investor, lender, & trading partner to many developing nations, &
depending on the day, is the biggest lender to the US economy
Chinese real estate sector cause a financial crises in their financial sector which can be seen with their reduced new infrastructure projects in developing world, Chinese money can build a road in any country but can't provide income to people for so that they can buy a car.
They built a bridge in your country with the help of their company source material from China equipments from China and also the workers too after multiplier effect they add 4 times of invested money in their own economy.
The West's smearing of China is affecting that country in the perception of many people around the world. Also, China's economy is transitioning with many key sectors affected by the changes including, as you pointed out, the real estate sector, which has been mired with controversy in China. The involvement of foreign companies in the manipulation schemes in selling real estate properties has prompted the CPC to work on changing the policy regarding that sector.
The foreign investors, however, have been crying because of that transition. LOL.
Hence, they are working on another smear campaign to tell the world that China's economy is collapsing, which is farther from the truth. It's hilarious how the West is buying that agenda and spreading it. Perhaps, the evil BlackRock is also affected. That's why.
Look into news from people living in China and you will see these challenges are China's plans.
The real estate sector is the government plans to keep property prices affordable. Unlike the west, which has skyrocketed and many become homeless.
Slow recovery? China just became the biggest car exporters in the world. BRI and BRICS are growing.
The Americans are having to sanctions China on Huawei, Dji and even garlic to contain China.
China is 4 times the US population and India still has poverty issues. Even if China's population reduces it is still larger than the US and better off than India.
@@vegamoonlight I see this as a good thing for China because the more the West is asleep and making excuses why the Chinese people are garbage, the more they'll pay for it later. As the old quote goes "arrogance is the precursor to you getting your ass handed to you." This is why we should be thanking the US constant gaslighting of its own citizens.
@@insh_ build some toilets first.
Per capita? In USA most of capital is in the hand of 1% rich, instead of its bottom population.
Though Education alone, plenty of counties will come ahead of the US from that fact alone. Or rather the US will fall behind because of its Education.
PLENTY OF SKILLED EDUCATED WORKERS NOW MOVING TO THE USA, BIRTH RATES IN ALL COUNTRIES GOING WAY DOWN FOR THE FUTURE, AMERICA WILL BE SUPORTED BY ALL THE IMMAGRENTS COMING HERE
The US has had a poor education system for at least 60 years now. It doesn't really matter. The US always attracts highly educated and highly skilled immigrants, and the secondary education in the US is actually quite good. I would expect highly educated Europeans to move to the US in higher and higher numbers as the economies of many European countries stagnate. The gap between the US and Europe is only growing.
JUST ANOUNCED ON THE NEWS, CHINA LOST 2 MILLION PEOPLEL IN 2023, THEIR POPULATION IS CRASHING DOWN, WHICH MEANS LOWER ECONOMIC OUTPUT AND LOWER LIVING STANDARDS FOR CHINA , BY 2050, IT IS PROJECTED THAT CHINA POPULATION WILL BE ONE HALF OF AMERICAS, DUE TO ALL THE IMMAGRENTS COMING ACROSS THE BORDER @@JorgeM270
@@JorgeM270for a developed nation? Yes. Compared to the rest of the world? USA is still very high.
The chinese population os 4x the size of the u.s and by numbers china is going to have a larger population of elderly people. I have been to both india and china, india is 70 years behind china. In my view china is emerging as a strong economic and political model for the global south 85% the global population.
In that case china is 100 years behind the USA 😊😊
So you are not been to USA then. How many years china is behind USA, lets not talk about ghost buildings on debt money
70 years, are you a caveman ? Get some statistics of China in 1950s
@@Supremeleader6997 Keep coping lmao
@@KungFuWizardOfJesusyou too 🐷🤡
In other words; maybe, maybe not. But probably but it all depends. It's most likely but the future is murky. How's that for a summary?
Economy for who? GDP is not a representative measure when financial insecurity and homelessness are rising yearly even as unemployment is down.
The homelessness in the US is going down not up
@@napobg6842 Nah, homelessness has risen 12% since 2022 largely because of corporate greed but also because of the dwindling covid welfare programs that were actually very effective. It's a simple google search.
Putting numbers and stats aside, visiting China and USA gives a clearer picture of how well these countries are doing...
Walking around Beijing, Shanghai, Guangzhou, Chongqing, etc., you can clearly see that the Chinese are enjoying life.
Walking around New York, Los Angeles, San Francisco, Chicago, etc., you can see that Americans are not as happy. These cities are dirty and grungy. There are homeless camps all over the place. Many storefronts are shuttered. Shopping malls lack vibrancy. Public transit is just plain sad.
Given the choice of which country I'd rather live in, the choice is pretty clear. (I'm Canadian.)
Now go walk around rural towns in China vs us..... Last I looked rural farmers in US don't eat rats to survive.
What about my country iran 😔 is there hope for getting develop?
What about my country iran 😔 is there hope for getting develop?
@@maryammohammdi6413 Yes, especially now that it has joined BRICS. Iran will enjoy many favourable trade advantages.
The hegemonistic fantasy : continuation of the same ideology of slavery, colonialism, neo-colonialism and then ... hegemony \ The decline of the USA is caused by sustaining its military around the world and fighting endless wars ...
Western hegemony is on its last leg. Living in denial is not a smart strategy , will have to face reality sooner or later ...
The casino economies that produce nothing but weapons, are declining, while the commodity based economies who work hard are rising fast
It certainly was not the G-7 that had helped save the Global economy from the 2008 crash. The more United $tates Debts they are printing , the more homeless they have.
5 BRICS nations now contribute more to World GDP than industrialized G7 (in PPP terms) and have been steadily increasing.
Necessities are 10 times cheaper in China, so even if on paper China is 1/5 of USA in terms of GDP per capita, the real quality of life is much higher
So true. I’m in Shanghai atm and the cost of living is EXTREMELY affordable. Food delivery is just 1 or 2 yuan and no tips. Subways are less than 50 cents a ride.
They compare gdp per capita without adjusting the parity which is foolish but china take advantage of this comparison and claims itself to be a developing country (which is not true) to reap the benefits a developing nation gets.
China is 10 times cheaper... Man which world do you live in.
@@RajShekharSingh see yourself, Almost every Asian country is 7-10 times cheaper than the west, check the prices of food and commodities.
@@RajShekharSingh I'm an American currently in China and yes, 10 times cheaper.
Which world do YOU live in??
How? With trade deficit and debt mounting, where real money come from?
My favourite line “We will be prosperous if we are nice to each other”
USA is blessed. Americans be grateful. remain humble and hard working.
lol.
Found the banker.
Humble isn't American. It's all about being pompous and bragging about being no.1 on a chart even as more and more people become homeless and die by drug overdose.
Slava BRANDON 🇨🇳
humble homeless, blessed overprice medication,gratefull inflation
Dialogue and exchange are beneficial, which promotes a more long-term peaceful exchange between the two great powers. Both great powers should work hard for world peace and the future of mankind. We are not separate individuals, we are all under a community of destiny, and we hope that the world will be better in 2024.❤
Creative and sincerely
Dude china has already surpassed US, the real power isnt reflected in gdp but gdp(purchasing power parity)
That’s just domestic. PPP is irrelevant in international terms.
The Shifting Landscape of Global Economic Power: A Tale of Two Titans and a Rising Star
The global economic dominance is undergoing a fascinating transformation, marked by the interplay of established powerhouses like the United States and China, and the meteoric rise of an economic contender - India.
The US: Holding onto the Reins, but Facing Internal Headwinds
While the United States remains a wealthy nation, its position as the sole major player in the global economic arena is teetering. China's earlier projections of eclipsing the US in the late 2020s were disrupted by post-pandemic economic woes. The nation grapples with internal challenges like:
Diminished confidence in future growth: Public skepticism casts a shadow on economic prospects.
Housing market tremors: The real estate sector faces significant hurdles, threatening stability.
Lingering COVID scars: The slow recovery from pandemic measures continues to hamper progress.
Demographic dilemmas: An aging population and declining birth rate pose long-term concerns.
These factors highlight the potential vulnerabilities underlying the US's economic standing. However, it's crucial to acknowledge the nation's enduring strengths:
Unmatched private sector dynamism: American innovation and investment in cutting-edge technologies like AI, robotics, and automation remain unparalleled.
Abundant natural resources: Low electricity and land costs contribute to a robust manufacturing base.
Yet, internal discord in the form of a divided political system and partisan gridlock poses a significant threat to future economic progress. To retain its top spot, the US must address these internal roadblocks and strategically utilize its inherent advantages.
China: A Colossus with Cracks, Yet Undeterred
Despite recent economic stumbles, China boasts formidable economic fundamentals, including:
The world's most sophisticated supply chain: China's logistical might provides a substantial economic advantage.
Global financial clout: Being the largest foreign direct investor, trading partner, and lender to numerous countries grants China immense economic influence.
However, China also faces its own set of hurdles:
COVID's lingering impact: The pandemic's continued effects and the nation's de-globalization policies create economic uncertainties.
Disparity in living standards: While China's consumer market holds immense potential, the significant gap between Chinese and American living standards remains a critical issue.
Demographic limitations: China's declining birth rate and aging population present long-term challenges to sustained economic growth.
Crackdown on the private sector: Recent policies towards private businesses raise concerns about stifling innovation and hindering economic dynamism.
Despite these challenges, China's potential to overtake the US as the world's largest economy by 2037 remains a distinct possibility. Its sheer size, combined with strategic resource allocation and continued technological advancements, could propel it to the top spot.
India: The Rising Star in the East
While the US and China battle for economic supremacy, India's ascension deserves attention. The nation has emerged as the fastest-growing economy among G20 members, propelled by:
Demographic dividend: India boasts a young population compared to other major Asian economies, creating a thriving workforce and consumer base.
Economic outperformance: India surpassed the UK in 2021 and continues to exhibit impressive economic growth.
However, India faces its own unique challenges:
Sustaining high growth: Matching China's consistent economic performance over the long term will be a crucial hurdle for India to overcome.
Heavy reliance on public sector: Unlike China's initial model, India's current trajectory of high dependence on government spending necessitates greater private sector involvement for sustained growth.
While surpassing the US as the world's largest economy might not be on the immediate horizon for India, projections suggest this could become a reality by the 2080s.
Beyond the Bilateral Battle: A Call for Global Cooperation
The shifting landscape of global economic power underscores the interconnectedness of the world. Amidst global challenges like the pandemic and the Ukraine war, international cooperation emerges as an essential element for collective prosperity.
Focusing on common global goods like the hydrological cycle and fostering collaborative solutions to shared challenges will be crucial in navigating the evolving economic landscape and ensuring a sustainable future for all nations.
More so is that the Indian economy expanded by 185% in 10 years from 2 trillion in 2014 to 3.956 trillion dollars today. It is the third wealthiest nation by total wealth value (20.651 trillion dollars). It has also made meteoric advancements in infrastructure, technology, manufacturing and exports. It will probable 3rd largest by 2028, 2nd by 2060. SO, India might become largest by the endo of the century like 2090 or 2095.
@@otrimapramanikdas7154印度如果能完成国家整合，潜力是巨大的，莫迪显然就是在这样做。
但是为啥要用宗教的手段呀？这一点我不是很理解
I would not put India on this list. I suggest replacing India with Russia.
Russia's advantages are obvious.
It has the largest territory and the potential of infinite resources.
Global warming has caused land in Siberia to thaw and become arable.
Russia's population is about to explode.
If all of the thousands of sanctions, blacklistings, and tariffs go as planned, then yes, it will remain in 1st place, at least until it comes time to repay the $34T.
they owe the majority of the 34 trillion to themselves not other countries
You talk about the debt without any context. This is how you see a disingenuous person
Oh look someone else who doesn't understand economics
Most of the wars are about water, that was my most interesting takeaway
Oil: bruh
That's 100% confirmed with so many major brands and their production already left China for other apac and south american countries. The supply chains always follows and the jobs will be taken away as well.
All nations are going to need nonstop improving Politically, infrastructure,social programs equility balancing, protections of peoples freedoms and beliefs etc... but i think the USA is definitely on strong footing and with freedom as our foundation the strenght in that alone will carry us into the future, one great thing about freedom among many others is a free mind innovates in hard times, innavates in good times and everwhere inbetween. That are in line with our individual talents. To meet the tech requirements of the future organically. Yes china has enormous potential. The people of china are talented and have so much to offer the world, but the system of governance is a huge drag on their potential. And too narrow to reach its full potential in competing in the future. You look at some of the worlds most important things of use today were accidentally created/discovered example penicillin etc... So having a narrow belief system where only the top gov officials are the only ones who have say on what is important and worth pursuing is naive to think that they will know everything and always be right. If a man has extreme telant in gaming creation , putting him on military rocket creation is just a waste of who that man really is. You dont know the possibilities of that mans gaming creations to other Accumulated Tech that could piggybacked off his free mind creations. Innovation is rarely a straightforward line. it's messy. It's spread out, and it needs room to breathe and room for failure. All the things that the ccp of china does not believe in. They are at a disadvantage on so many levels but definitely not from lack of talent, just lack of room to breathe life into that talent so it can create without persecution. Anyway, only my own thoughts. im just a man im not trying to change the world or anyone elses opinions or nothing like that. I hope we all are properous in the future without taking and hurting eachother in peace. God bless you all. 🙏
美国的崛起从来不是因为自由，这一点你可以去看一下美国的经济史。
你把所谓的意识形态看的太重要了😂
去掉意识形态描述，才能真正看到问题
@havingdinneramaster
A free mind is the greatest asset any country in this world can tap. You look at most of the greatest world changing tech and ideas and inventions of today and threw history of the USA and you will see that the US has the largest share of those world changing ideas and inventions. And transformed into reality without fear of persecution. Allowing those ideas to change the world over and over. And your saying those free mind created ideas had nothing to do with the rise of the US. Ofcourse I over simplied there were many other reasons that also contributed like, resources, Geological placement etc....but most importantly was the people willing to fight for a ideal FREEDOM which without that ideal/constitution that all men are created equal etc.. there would have never been seperation from the British. And the US would have never existed. And the world you see today would not be what it is. The US enabled and created the system that has created the world's wealth like never seen before in world HISTORY. Freedom was and has always been the foundation of this country and the ideals that come with that change the world and are the reason why most of us will fight and die to protect and make better freely, not under threat to do as im told. Now don't take my Patriotism for being Naively blind, because I also know behind the seens. It's a lot different than what we see. But that's another conversation, right now We're talking about freedom in connection with the USA success.
And I respect your opinion but I think if you did do any research. And you're speaking on that research. I think you might have lacked some critical areas of understanding of why.
I said what I said. You could defend your ideals with using china as a defense but even in China they have freedoms which definitely help the country rise. No suppressive goverment that completely does not believe in freedom has never reached the lvl of succes like AMERICA in world history. Saying the USA success is not becuase of freedom but becuase of ????. Anyway I message back for entertainment purposes only. Not to change your opinions, believe as you want. I'm just curious why you think freedom was not important in the rise of the US. ?
@@Jason-wp4sv Freedom and democracy are only ideological concepts, for example, the United States and the Soviet Union were the opposite of the free world and the democratic world during the Cold War.
If you simply understand that the United States won the Cold War, it was because of the implementation of the idea of freedom. This analysis is too superficial.
Analysis of the problem requires stripping away the appearance
The analysis of international events requires more ideological analysis
@havingdinneramaster
Vague answer for claiming that the freedom ideology has nothing to do with a countries success. I still don't understand if not ideology?. More than half the worlds wars are over ideology. You believe the freedom in the US has nothing to do with its success. Ideals and ideas stemming from those ideals create the future. I was hoping you would broaden my understanding. Anyway, thanks for your opinions. Be well ✌️
@@Jason-wp4sv The current American ideology was shaped after the United States became the first global power. This set of values is not the true story of American success.
Chinese CC-P just showed its true face a bit too early before becoming a leading economy
Couldn't bide anymore time numbers dont lie uncle sam caught wind
中国人向来是比较谦虚的，我认为我们对世界霸主的地位没啥兴趣。
党和国家制定的文件也从来没有这种描述
@@havingdinneramaster Humility is just a rhetoric of China's modern decline, and China has always been very arrogant since ancient times.
@@Ye_fan. 我们所说的“自古以来”并不是恢复古代强盛时期的那种“我乃天朝上国，尔乃蛮夷也”和各国交流的态度。
而是近代以来中华民族被欺负被奴役，不仅国土沦丧民族文化也逐步衰落，“自古以来”是我们重拾民族文化自信的表现。
因为我们近代以来被欺负被奴役，所以中国人更加懂得己所不欲，勿施于人
Yes.
China is already the world's largest economy, look at IMF,s measure PPP
I would like to point out these western analysts that GDP per capita is more accurate on Purchasing power parity per capita because it is within the country.
Exactly
Yes, even if China and India will one day be bigger, the US will remain a top 3 world economy for the next century.
CHINA WILL NOT BE BIGGER, VERY LOW BIRTH RATE AND CAN NOT CORRECT , ITS TO LATE FOR CHINA, IN 1940 THEY LIMITED WOMEN TO ONLY HAVE ONE BABY, SO NOW NOT ENOUGH WORKERS IN THE FACTORIES, NOBODY WANTS TO MOVE TO CHINA, EVERYBODY WANTS TO MOVE TO THE USA, IMMAGRATION WILL SAVE AMERICAS ECONOMY IN THE FUTURE, BECAUSE AMERICAN WOMEN ARE NOT HAVING ENOUGH BABIES TO GROW UP AND WORK IN THE FUTURE, IMMAGRATION WILL SOLVE THAT PROBLEM
No doubt.
China won’t be bigger, India’s situation is tbd
China is 35% behind US and its economy is starting to lag behind
And alliances will become even more important. The US has many strong partners, both economically and militarily. The invasion in Ukraine has created a new alliance in Asia with Japan, South Korea, The Philippines and Australia. This would not have been possible without the invasion of Ukraine, old enemies like South Korea and Japan, have become more pragmatic and joined because of a common treat, … autocracy
We cant predict the future, wait and see
When your report good jobs data, consumer spending, soft landing please highlight the cost to govt debts level.
The short answer is yes.
😂Short answer is no. With a debt of 32 trillion I don't think so
@@user-ro8tv5nn3kno one cares about what you think!
@@user-ro8tv5nn3kthe total dept of china including their private sector dept is 300 persent of their GDP
@@user-ro8tv5nn3kif you check many countries have a big debt not only the us
@@user-ro8tv5nn3kmuch of that money is own to itself
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Nice scam comment thread
Did the woman at the end say the Israeli and Ukrainian wars are over water?
Infrastructure needs to be itemized. Private sectors need to be taxed more. Looking, 14 (four-teen) percent based on Americas itemized semi-quarterly report. America can survive with the build of the roads from Africas' road tax. After that contract, reitemize the import/export industry to self support Americas' own economy to stabilize those numbers. I don't see the Americans supporting Africa with the billion dollar Infrastructure after the roads. It comes down to the men in Government to import/export for the people. Small business. Go Sam Houston.
From many perspective,it is difficult for China to overtake U.S economy.
What did you base your perspective on?
You know, China has grown at 5.3% at 18 trillion dollars GDP. China has been double the US growth rate even with the US trade war and technology war. 😂
@@victorhuynh4031china GDP in 2021 was 17 trillion and grow only to 18 trillion even in 2023 GDP of USA was 22 trillion and it is now a whopping 26 trillion the difference is actually getting bigger. And china only grow by 3 persent in 2022
Can we really trust how strong China says their economy is
Population going down always leads to stagnation
The U.S. economy in 2023 outperformed expectations along three key dimensions: growing economic output, labor market resilience, and slowing inflation.
The U.S. economy expanded a whopping 4.9% in quarter-on-quarter annualized terms in Q3. This was more than double’s Q2’s rate and well above the pre-pandemic average. It was also particularly impressive in the international context: Most G7 economies are expected to have broadly stagnated in Q3.
Higher private consumption was the key driver, buoyed by falling inflation and a still-hot labor market-the economy created over 300,000 jobs in September, the second-largest increase so far this year. But the economy is no one-trick pony: The latest data also showed strong expansions in exports and government spending. Fixed investment-which had surged in the past two quarters as firms rushed to build factories following the passage of the CHIPS and Inflation Reduction Acts-lost steam but still expanded for the third straight quarter.
We offer three key conclusions:
# The United States has seen a particularly strong GDP recovery and is on track this year to reach the level that would have been predicted by the pre-pandemic trend.
#Global labor markets continue to strengthen, and the United States has been especially resilient.
#U.S. inflation has cooled sooner and more quickly than in other advanced economies.
Source: FocusEconomics
Date: 27th - Oct - 2023
A third of the growth is attributed to US borrowing more and the deficit has swollen to 30 trillion+. With BRICS now hell-bent to bring down the dollar, US will not be able to borrow money like it does today and the deficit growth will slow down
ALL DUE TO BIDENS EDCELLENT POLICIES FOR THE FUTURE
If economy means printing Currencies of course. Of it's commodity; USA would be at bottom
Weird that NBC is actually cheering up by China-USA further integration, fascinating isn’t it?
Mariana Mazzucato is brilliant. More of her pls.
8:40 Did she say Israel Palestine war is about water lol
To some extent yes, Israel "steals" water from Palestinians in the West Bank
We have a 150trillion dollar lead. And have the largest corporation in the world that employees most of these countries citizens.
The question is why the question is a question?
Three things will fundamentally change that will make US no longer the premier economy:
1. The economic models will break down along with Globalization and dedollarization.
2. You will have accute labor shortage and hyper inflation.
3. Investment will dry up due to above two factors.
You just described china right there
@@Wongseifu548 I described every nation that played games with it's economy and monetary policy including the Eurozone, north America, Argentina and East Asia. Exceptions are Singapore, Japan, Malaysia, India, Thailand, parts of Africa, Australia and some middle east. It remains to be seen if the exceptions follow suite.
Dedollarization is junk economics
They’ve been saying this rubbish for over 40 years. I still haven’t seen it, and I doubt i’ll see it in the next 40
As this video points out, both the PRC and India are larger than America in terms of population and while they have large and growing economies they are currently dwarfed by the United States. Work is always essential to Economic Growth and we will remain large and strong as long as we work and grow and develop. America has all that it needs to grow to over a Billion people over time but I won't try to predict this type of growth. This seems intuitively realistic. But predicting the future is not a business I want to get involved with to be honest. And given the rise and fall of empires in world History... well, it is always very difficult to predict. Political hostility and strife, war, there seem to be too many variables to predict. But I'd like to believe our future looks bright today and will continue this way into the future. Like the Brits, America will muddle through its difficulties.
Recently Russian federation president Putin announced 1)China, 2)USA,3) India,4)Russia,5)Japan.......this is respectapul personality of world announced...
WE GOT TO STAY THE #1 IN EVERYTHING AND WORK TOGETHER WELL WITH THE WORLD AND UNTIED! USA 🇺🇸
We’re literally number one in nothing except nominal GDP
@@ThatJPGamer100% agree
Whole America is immigrants
美国是如果通过制裁名单来保持第一的，这就令人感到可笑了
@@ThatJPGamerwell also largest exporter in the world, most powerful military in the world and so much more.
US is 1st in GDP nominal and 2nd in GDP PPP.
And the US is still a global benchmark in many ways. They have the strongest military, best space industry, best intelligence agencies, best software industry, best financial industry, near the top if not top in scientific research,2nd biggest in manufacturing . Most popular movies are from USA. US dollar is the major world reserve currency and economic figures of other nations are often stated in US dollar, GDP PPP is measured relative to the US.
"Living standard in China is 1/3 of that in the US" 🙄B ch Please.
You're still using cash/coins; no high speed rail, dirty/old metro system (& only in a few cities); expensive as hell delivery fees, expensive contractor, handyman, or any labor; and a ridiculous tipping culture; high property tax (none in China); inflated grocery prices, and many more inconveniences. Plus you've got a huge population of homeless people, whereas in China it's practically nonexistent.
And in China, just the WeChat app on your phone alone allows you to pay & receive money, chat & make video calls, book hotels, flights, and high speed rail, schedule a doctor's appointment, buy groceries with free delivery, order take outs, make Instagram-like posts, pay insurance, and much more.
In the US you'd have to wait a week or more to see a doctor, whereas they can see all types of doctors on the same day, then maybe get an x-ray, get treated, and get pills all in one day. NO RIDICULOUS MEDICAL BILLS. And YOU'RE telling me living standards in the US is 3 times higher? PLEASE. Try living here yourself for a day and you'll see how rich these Asians are and how convenient their day-to-day is.
Hey buddy. In USA we can do what we want to do.. try that in China :)
Buddy you literally use VPN to even be here! None of what you said matters! The American are not used to use public tranportation hence why there are no HSR and rapid expansion of subways and whatnot. There are more homeless people in China than in the US even compared to the population size. Also you still use coins and paper to pay for things. America is a lot more digitalized than China is. That btw is in absolute terms. The Chinese population is 4.2x larger than the US. The higher prices for food is because of different standards and regulations. There are literally videos of Chinese restaurants using dirty oil from trash to cook food. Oh and btw you still pay full price for your medical bills... There it goes your arguments. Btw if people in China were so well off why are they having such high rates of disposable income yet they have so little in actual money?
I agree.. for them, the standard of living means something else, living in distanced houses for 300 days and earning high, making kids buy games worth hundreds of dollars, less people.. For Indians this formula does not work. We are much less developed than US/China but majority of us live comfortably with $500 a month.. Except the bad city roads and pollution, its fine that we cant afford a PS5..
biggest cope. explain why immigration is in the direction of the USA and not China. the chinese flood out of their own country.
Will The U.S. Remain The World's Leading Economy? The key word is "Leading" which is not the same as biggest, number 1 in manufacturing etc. Leading mean it moves in a certain way with a well explain plan and the world follows. Then I am afraid it does not lead. The non-Western world is de-dollarising, which shows refusing US lead. Major models of its commercial jet liner are often grounded. It's tries to lead the world into sanctioning Russia, but most countries refused to follow. So it does not lead enough countries to win.
Yes
Yes of course, US will remain the top economy for the foreseeable future imo.
That's right. Never bet against the US. President after president had said this. I trust that they've seen all the numbers to confidently say that. Also, you can't beat a free and open society vs. a restricted and closed society. The whole society is free to think and create. This is invaluable to a country.
These other players still have many domestic quibbles they need to solve first, to challenge the US.
sadly julian assange too was falsely decieved by FREE USA@@talkinghand4839
Reserve currency = yes .
Who cares about mickey mouse money???😂😂
@@SanLucas-hr8pfummm apparently every country on the planet, especially during times of uncertainty.
@@SanLucas-hr8pf if not you prefer dictator currency? LOL
Not for long 😂
@@SanLucas-hr8pf80% do world
Tell me you are bias without telling me you are bias
Usa standard of living is so good that there own people cannot live in that standard 😂
No.
At least someone mentioned GDP by PPP. China overtook USA in 2014, literally a decade ago.
The problem is there's global commodities like oil that sell the same all over the globe in nominal terms not PPP
@@seanthe100 the measurement is economic output, so PPP is the appropriate measurement. If the question is, "what can a country buy?" then the exchange rate figure may matter but we wouldn't use GDP to measure that.
@@brandonlesco4821 PPP isn't economic output it's actually imaginary nominal is in real terms
@@seanthe100 I would argue that exchange rate numbers are imaginary. Nominal figures are not "real". Not sure if you're equating nominal with exchange rate but PPP is the way to go.
@@brandonlesco4821 to understand inside a country but on a global scale nominal is the way to go
The game changes once manufacturing moves out of China and into places like Mexico.
Mexico goods is still directly or indirectly made in china.
Half the stuff the professor from NYU is saying is unintelligible
Climate change will have greatest impact on China and india to grow at existing rate ..keep in mind one natural calamity will impact labor market a lot thus decreasing production ..US has capital and technology/innovation so will be difficult for other countries to overtake..
I still can't get over sewer oil being used in restaurants in China. I've never seen anything like it.
Objectively this is dated news from 10-20 years ago when most of China was still in poverty. Few restaurants are still using sewer oil in 2024 considering that it can warrant the death penalty in China. Frankly, only people who keep circulating “sewer oil” in China like it’s still a thing are those who want to dehumanize Chinese people and depict China as uncivilized. Honestly odd because China never denies being a developing nation and being extremely impoverished just a few decades ago.
Yes and fake synthetic food
Lets not pretend that food in the US won't give you cancer or a hundred other problems
@@KungFuWizardOfJesus still better than sewer oil
@@KungFuWizardOfJesus lmao ok bro go eat plastic rice and gutter oil in china and tell me how much healthier it is than us street food 😂
YES
I don’t know what they been looking at but the economic situation in China is horrible and is not going to improve
As a Chinese young people cannot find job. All ckmpanies are cutting headcounts to save cost. Competition is everywhere，a lot of industries are suffered from endless low cost requirement. And
recently the air quality is really a disaster，
as result of sacrificing environmental
reservation to keep GDP growth.
Are you from China?
Sure, The U.S. will remain The World's Leading Economy. No doubt about it.
it won't.
It won’t the power will go down definitely by later part of this century . It will still pretty strong tho
It will remain the strongest unless India’s population never goes down.
@@gamingwitharlen2267 Indians(CEOs and vice/presidents) are taking over USA now.
@@Harrappa this century will be another American century. American hegemony will remain for this century.
The Israel and Hamas war is about…water?
That made me question everything in the segment.
The US needs to lose the worlds largest economy trophy. Theres no need to be #1 in everything.
I think the question is geared more towards investors. It was thought that China would soon be the biggest economy so investors put a lot of money in Chinese companies. Now that no longer seems to be the case investors are now pulling money out of Chinese businesses and investing elsewhere. Covid is another reason why investors are pulling their money out of China.
China is using industrial robots at about 12 times that of the US. The various US tech sanctions are certain to add rocket-fuel to China's tech development. In China, about 45% of the population live in the rural areas, meaning there is still a lot of economic potential to be unlocked in urbanization. Also, Chinese save about 30% of their income. If the govt can unlock that, China will surge ahead. I don't think that most of these economists are taking the full range of factors into consideration. One thing to remember is that economists have been predicting China's collapse for decades. It has not happened yet, which may suggest that most economists don't know what they are talking about in respect to China. By PPP, China is already the size of Japan bigger than the US. That will only continue to grow.
Economist also predicted Soviet Union will pass the US in the 70s, Japan will pass the US in the 80s, EU will pass the US in 2000s , now china will pass US. We go through this every decade yet the U.S is still standing.
@@KCKnowsBestwith soviet and japan, it was simply a prediction of who can rise to the top faster. Now, china is rising at an unprecedented speed and US is not only stagnant , but declining in every aspects. I would say it’s a bit of a different situation.
@@xoho3462 in decline is a bit stretch. That’s what ppl are praying for and propaganda being spread around. About 60%+ of the world’s top companies are American. Apple, Google, Microsoft, Meta, Facebook, nVidia , etc
It still leads in AI , space exploration , chip designing & military tech. Should I show you all the military tech China has stolen from USA ?
Tesla, an American company led this whole electric car thing & why the world is switching fast.
The New York stock exchange ($24 Trillion )& Nasdaq ( $20 Trillion) are the 2 largest stock markets in the world. Both in USA. The next closest is Shanghai Stock exchange ( $6trillion)
The US also project far more soft power than China does . McDonald’s , Starbucks, Hollywood movies, rap music, country music , NBA basketball, Target. There are more KFCs in China than USA (its own country ) etc.
Not only has Chinas economy slowed this year/post COVID , their aging population is going to continue hurting them. Most companies are also beginning to diverse to India and Mexico. Mexico is becoming the new production powerhouse
India will be the biggest eventually. It will become great again!
But it has to centralize a bit first, I think. Just look at the agricultural sector, it's super inefficient and still not modernized. And there was extreme resistance to the needed changes that Modi tried to push through. The bureaucracy is also insane, I hear. I think if it can overcome these kinds of internal obstacles in a peaceful and constructive way, I think you're right that India's demographics and dynamism would make it number 1.
@@monkeeseemonkeedoo3745 The reforms are already happening. It will take some years for people to get ready for drastic changes but the gradual change is happening. Where the world is at its peak, India has just begun.
Short answer is no.
China calculated its GDP through product values produced domestically, while US calculated its GDP through personal spending, company spending and government spending. So in short, China already beat US for the world's leading economy if you calculate GDP in the same way. US GDP calculation is only because it already not an industrial super power. If US want to remain the leading GDP country, it only needs to borrow more and spend more like its debt increase dramatically, its GDP come along with it.
America will stand a chance if we can get a new president in office.
Kamala 2024
@@allstar2709
It's very interesting is American and European inteviews Americans and Europeans to know about China instead of interview of Chinese directly. I am just an ordinary citizen from Taiwan, China. I have tons of friends from different parts of China, from what I learned from them is most of them don't care who's number one or number two, same like me, we care more about our lives are getting better or not, not for compete with the Americans or anybody else. For example if our lives are getting better and better and the speed of getting better and better is very high, who cares number one or two, if American s like they can always take or claim they are number one or they can claim they are the most democratic, most beautiful, freest, greatest country by themselves, we don't care how they give themselves nicest adjectives,we just care if our own lives are getting better and we are happier by developing our own economy.
My viewpoint probably is different from what mainstream media in the West narratives told you, and I suffered numerous insult or attacks like ccp bot, shield, for them freedom of speech only exist when you fit their narratives. If any CIA, FBI or Chinese agencies want to pay me for my speech/comment I would be happy to take free money, lol, just make sure pay me more better than millions of dollars, haha..
The video is about the PRC not the ROC...
They will not interview chinese itself, because chinese knew they don’t
Have the answer of their struggling down economy and their low living standard as well😂😂😂😂
"Taiwan, China" ok wumao 😂
Taiwan need usa or will be red.😅
It would be weird to see anybody else on the top in our lifetime. We are used to thr USA being up there. But anyway best economic policy wins.
Why the American people cared so much about gdp china lower their gdp numbers to avoid further pressure from the west for example they don’t count input rent in gdp and the medical expenses (a large percentage of usa gdp) in china are low compared to the American
Even if population declines- it’ll get richer
Only young people can enjoy the benefits of wealth.
I believe 🇺🇸 will remain strong due to the technology advance
You never been outside of United States,right?
due to the dollar hegemony, without this, the U$ will collapse rapidly
kindly name that technology..i mean, china built its own ISS...US doesn't have one or will have one..
Ever heard of SpaceX? @@francojustthat156
China is way ahead in terms of technology see the airports of us and compare it to just metro stations do china actually east Asia in general is much more advanced technologically compared to us. Ever heard of Japan and South Korea.
As I see it this depends mostly on two factors. How much Russia Russians allow China to swallow because of fresh water witch is abundant in Russia and not very drinkable in China. If not much then The US will if they get a good chunk then China will. And Taiwan. We will see.
The problem lies in where you see the world with your delusion made by your hope and hate, instead of reality.
Glad Elon Musk giving the USA and world some direction with EV’s, battery storage and storage, Space X, and Starlink world WiFi
Speaking of Starlink China now wants to copy it.
Doesn't matter if China in GDP, I want to live in a country where i can make more money and enjoy that money, that's where the US has the winning card
In PPP china already biggest economy .Technologically it already as par with west. So it’s just a matter of short time it will overtake both America and Europe combined if you know the sheer size of their population
目前中国还是拥有不少优势的，巨大的市场，以及各种优秀的人才，而且因为对教育的重视程度，中国人的受教育程度很高，是货真价实的，而不是美国人那种“混学历”，另外美国的很多问题恰恰在中国不村在，比如美国有枪支泛滥跟毒品泛滥问题，有各种种族矛盾冲突问题，而这些在中国没有，中国政府由于历史原因，对毒贩是采取零容忍的态度，快速审判并送这些该死的毒贩去见上帝，这些在灯塔美国可没法做到，而且在中国上学，至少你不用穿着防弹衣保护自己的安全，哈哈哈，目前美国与欧洲对中国的了解存在巨大的刻板印象，他们从媒体（美国企业主导的媒体，又或者犹太人控制的媒体）了解中国，存在很多错误的偏见，我在油管已经看见过很多错误的视频了
The US has a high per capita GDP, *but* most of America's wealth is highly concentrated in the top 1-10% of Americans. The average American is doing quite poorly, even relative to China.
Utterly untrue lol. China wealth inequality is way worse
@@HailAzathoth Show me your evidence. Otherwise, it's just hot air.
@@HailAzathoth You are very misguided.