|Image: Visual Capitalist|
The world’s top economy: the US vs China in five charts
For more than a century, the United States has been the world's biggest economy, accounting for over 24% of the world’s gross domestic product (GDP) in 2016, according to figures from the World Bank. But change is afoot, as this infographic from the Visual Capitalist shows … for more, go to https://www.weforum.org/agenda/2016/12/the-world-s-top-economy-the-us-vs-china-in-five-charts/
China hits back at the US on who’s destroying global trade
KUALA LUMPUR (January 2018): It is clear that for the US, when you cannot compete you complain, whine and sabotage.
That’s exactly what the US is doing with China which has succeeded in transforming the 1.4-billion-people nation into a global economy.
The fact remains the US is fast becoming a “sour grape”, and fast losing its global economic and defence influence.
And China has, via its Foreign Ministry spokeswoman Hua Chunying, openly rebutted the US claim that “China is a real threat to global trade”.
This is the Reuters report as posted by The Star Online:
"China says United States is real threat to global trade, not itself
Monday, 22 Jan 2018
5:09 PM MYT
WTO rules have proved ineffective in making China embrace a market-oriented trade regime, and the United States "erred" in backing China's entry to the trade body on such terms, the office of the U.S. Trade Representative said last week.
Its report came as Trump weighs a series of trade actions against Beijing, including a decision in a "Section 301" investigation into China's alleged theft of intellectual property, expected in the next few weeks.
Foreign Ministry spokeswoman Hua Chunying said that since China joined the WTO, it had strictly followed the body's rules, carried out its obligations and contributed to the development of the multilateral system.
"I think everyone has seen that it's precisely the United States' unilateralist methods, and the sounds it's made on unilateralism, that are an unprecedented challenge to the multilateral trade system," Hua told a regular news briefing.
"Many WTO members have already expressed worry about this," she added.
"So we hope the United States can correctly view China and at the same time take their own actual steps to protect the multilateral trading system."
China has sought to portray itself as a champion of global trade in the face of Trump's "America First" policies, despite criticism from foreign businesses, and their governments, that many parts of its market are protected from foreign competition.
Critics also say Chinese industrial policies seek to assimilate and supplant foreign technology.
White House officials have said China has failed to follow through on promises to move toward a market-oriented economy.
Trump told Reuters in an interview last week that he was considering a big "fine" against China for forcing U.S. companies to transfer their intellectual property to China as a cost of doing business there.
In Beijing, many experts believe Washington is unwilling to pay the heavy economic price needed to upset prevailing trade dynamics between the two countries, including China's record high trade surplus of $275.81 billion with the United States in 2017.
(Reporting by Ben Blanchard and Michael Martina; Editing by Clarence Fernandez)"
|The wear and tear doesn't help.|
Photographer: Kurt Wittman/UIG via Getty Images
Who Has the World's No. 1 Economy? Not the U.S.
By the most measures, China has passed the U.S. and is pulling away.
By Noah Smith
October 18, 2017, 6:30 PM GMT+8
What’s the most powerful country in the world? There’s a good case to be made that it’s China. There are many kinds of power -- diplomatic, cultural, military and economic. So an easier question to ask is: What’s the world’s largest economy? That’s almost certainly China. Many might protest when hearing this. After all, the U.S. still produces the most when measured at market exchange rates: Looks Might Be Deceiving … for more, go to https://www.bloomberg.com/view/articles/2017-10-18/who-has-the-world-s-no-1-economy-not-the-u-s