For the last eight decades, the USA has been sitting on the throne of global superpower, leading the charts economically, militarily, and technologically. Since World War II, the USA rose to such an invincible position that the great former USSR could not vanquish it despite fighting the Cold War for about forty-four years. Will the USA remain the undisputed superpower? Well, the answer might be a No.
China is most likely to overthrow the USA from its superpower throne. Famous American philanthropist and CEO of Tesla Elon Musk have stated that China will surpass the USA by two or three times. It is predicted that China will become a superpower by 2028, due to its ever-increasing economy and innovations in technology. Covid-19, which originally originated in China and turned to be a nightmare for all developed and underdeveloped countries, has somehow paved the way for China to get closer to that number one position. Let’s make it a bit more logical;
Covid-19, a blessing in disguise?
If you are not aware of how the USA dominated world trade in the first place, here is what happened. During world war II, America was the country least affected by the war. What it did instead was that it supplied war ammunition and weapons to other countries. In the state of war, where most budgets were concentrated on increasing military strength, the USA focused on increasing its exports by selling weapons and turned out to be the world’s greatest economy. Based on which it went on to innovate, expand and improve, and the rest we all know.
China has played a similar kind of trick during the recent Covid-19 pandemic. Where most countries of the world including the USA were slow to respond and suffered many casualties, China was one of the quickest to recover. Not only did it bring the situation under control, but it also exported its healthcare facilities and Covid-19 testing kits all over the world. China also led the exports of face masks which were the need of time, taking its economy to a new high. China was also amongst the first countries in the world to invent a vaccine, and Chinese vaccines are being exported all over the world. Now was this pandemic a blessing in disguise for China? We’ll have to wait.
GDP and Trade
China’s GDP has been at an increasing rate for the past decade or so. The Chinese gross domestic product is coming ever so close to that of the USA’s, giving it tough competition. China’s GDP in 2020 was recorded to $14.7 trillion, leaving it $6.2 trillion behind the USA. The difference in 2019 between the two countries was $7.1 trillion. The gap is contracting due to the high increasing rate of China’s GDP. It is however expected that China will outperform the USA on economic grounds in the next few years. China’s One Belt One Road (OBOR) project is taking its economy to another level. The OBOR project aims to connect the whole world with China, through a common road. This way, China will get access to other countries in its network and can increase trade. The China-Pakistan Economic Corridor (CPEC) is an OBOR example.
Apart from economics, China is on its trail to outperform the world in technology. The Chinese app TikTok is the most downloaded application in the past couple of years in the world defeating Facebook, Instagram, and WhatsApp. Apart from revenue, the globally recognized application gives the data access of the entire world population to China. The Chinese government is always involved in these types of technological advancements, which gives it first-hand access. Chinese company Huawei is the first company to introduce 5G technology. It is a breakthrough in the communication world and is all set to expand all over the world.
Thank you for reading this blog if you like our content so leave a comment suggesting more topics you think we should write about. You can also share our content and you can also support us by using our affiliate link to support us click here to use our affiliate links!