China Vs. US: Who Is Richer?

Posted By: MiltonMass

With a self-reported 7% average growth in GDP, China has made it known to the world that it is fast becoming an economic powerhouse. But can it ever be as rich as the United States? That is yet to be seen, although, pundits are interested in how China has been able to transform its economy and lift many of its citizens out of poverty. It has inarguably changed itself from a nation that depended on foreign donors to the one that mints millionaires almost every month.

In a YouTube video produced by Citizens Against Government Waste, a fictitious and futuristic Chinese academic is addressing his students in 2030. His caustic appraisal of America’s slow-growing economy and China’s turbo-charged economic miracles causes some laughter and jeers among his enthusiastic students:

“America tried to tax and spend itself out of a great recession,” he sneers, adding, “Enormous so-called stimulus spending, massive changes to health care, government takeover of private industries, and crushing debt. Since China owns all of the U.S. debts, it now becomes America’s boss.”

Donald Trump rants: “We are losing to China”

If the video is truly predictive of the future, the Chinese professor would have been a good, groundbreaking ad persona for Donald Trump, who had repeatedly called the leaders and politicians in Washington lazy, weak and poor trade negotiators. He strongly believed they had shortchanged America and let China get away with many great deals, leaving America impoverished and a loud loser.

Trump lambasted the ruling elite by ranting, “This country is in a big trouble. We don’t win anymore. We lose to China… We lose to everybody.”

Donald Trump may have hit the politicians in Washington below the belt, but one thing he must realize is that America, as it is today, is still a great nation. The United States’ GDP may be small, but the economy is still performing wonderfully when compared to other countries’ economies. In the past three years, the U.S. has been able to generate almost 8 million jobs, a feat that many European countries are envious of.