tirsdag 11. mai 2021

Three realities for the West to understand about China

The fate of the world will be influenced greatly by what sort of relationship the United States and China develop in the coming years and decades. To forge a fruitful rather than angst-ridden, if not destructive, relationship for themselves and the rest of the world, the two countries need to fundamentally change the way they approach each other.

The US and the West more broadly need to recognise three realities about China. The first is that China is
a giant economy that is only getting bigger and more technologically advanced. With that increasing economic strength will come commensurate military power. China, at 19 per cent of the global economy, has overtaken the US as the world’s largest economy on a purchasing power basis. China and the US together produce more economic output than the next 12 economies combined, and the next 21 on a nominal exchange rate basis.