The end of the American economic Empire – China to rule as the Asian century arrives

It’s official, in the next 12 months America will no longer be the biggest economy in the world. By 2020 they will no longer be no1, and the new world leader will be…China. No surprises there. Good bye America, your century is over. We have already popped open the champagne, so to speak. You are no longer the world leader. You may still have the biggest military, though that too is questionable, but we will leave that discussion for another article.

China rules the waves...with India
According to Standard Chartered Bank, once America loses its top spot to China, they will never again reclaim it because while last century was America’s, the current century will be Asia’s. It’s the rise of the sleeping dragon. Not only will China rise to no1 in the world economically, but by 2030 India will rise to no2. It boils down to pure math and numbers. India invented math and now they have the numbers. It was only ever a matter of time really. China and India have always had the majority of the world population and now the productivity of that population is reaching its tipping point.

It's already happening
In fact that tipping point is being reached as we speak. China is actually already ahead of America as the world’s largest economy if we measure by purchasing power parity (PPP) alone. It’s only due to the other factors - exchange rates and nominal GDP - that America is even still on top, but by this time next year, or thereabouts, even those figures will be surpassed and we will say a fond farewell to yet another Empire as it falls into late stage decadence and debauchery. Rome salutes you. Now make way for the new Emperor in town. Let’s hope he wears some clothes this time because the previous one was a total scam.

Going down fighting
As China and India take over the world by sheer force of numbers and concomitant productivity, we will enter a new era. Of course there could be some scuffling as the old order gets shifted aside. They may not go gently into their good night and may want to even put up a fight. The current trade war between America and China is just that. Not worth the effort though. As India also rises, they will be the main mover, with a 7.8% growth rate. Who can possibly keep up with that in these days of imminent global recession? Now the nation of wisdom and enlightenment will also become the land of leading GDP. I might just decide to emigrate.

Brics countries rising
And along with China and India, the whole of Asia will be lifted up economically as its output starts to match its population. Get ready for the new lingua franca – Mandarin. And remember that China and India are also part of the Brics block of countries. They will be giving the rest of the world a run for their money, pun intended. In fact the rest of the Brics countries, like Russia and Brazil, will also be up there in the top ten economic powers by 2030. Only South Africa remains the latecomer to the party. If we look at the list of the top ten for 2030, we will see China and India followed by America in third place, and then Indonesia. Brazil and Russia are also sixth and eighth respectively, with Japan at no9.

I think we're going Asian
By 2030 overall Asian GDP will account for about 35% of global GDP, which is up significantly from just 20% in 2010. This will actually be the equivalent to the entire output of America and Europe combined. And if we look at our chart, we will see that overall by 2030 seven out of the ten economies will be Asian. Our Eurocentric era is over with our aging population demographic. Are you ready for the Red Dragon?

ref: https://www.businessinsider.co.za/us-economy-to-fall-behind-china-within-a-year-standard-chartered-says-2019-1
pic: https://soapboxie.com/economy/China-overtakes-US-Economy