People tend to forget that China is a belligerent country ruled by a communist authoritarian regime.
From Fox News.
For the first time in decades, the U.S. is no longer the largest economy in the world, and China has become number one, the International Monetary Fund says.
The IMF recently released the latest numbers for the world economy, stating that China will produce $17.6 trillion in terms of goods and services– compared with $17.4 trillion for the U.S.
Just 14 years ago, the U.S. produced nearly three times as much as the Chinese, Dow Jones’ MarketWatch reported.
But each country reports its data in its own currency, according to the IMF website. In order to compare data, each country’s statistics must be converted into a common currency. But there are several ways to manage that conversion and each can result in very different answers.
Another measure of an economy’s strength is its “purchasing power parity” or PPP—the rate at which the currency of one country would have to be converted into that of another country to buy the same amount of goods and services in each country.
China now accounts for 16.5% of the global economy when measured in real PPP terms, compared with 16.3% for the U.S.
……Though the average Chinese citizen earns a lot less than the average American, simply converting a Chinese salary into dollars underestimates how much purchasing power that person, and therefore that country, might have.
So the IMF measures both GDP in market-exchange terms, and PPP terms. On the purchasing-power basis, China is overtaking the U.S. right now and becoming the world’s biggest economy.
……China’s economy may now be the world’s largest, but it’s still not the richest. GDP per head is still less than a quarter of U.S. levels, the Financial Times reported.
Chinese subversives are also making headway into American college campuses:
China’s authoritarian government is gaining a foothold on American campuses by funding dozens of institutes that project a rose-tinted view of the Asian nation that compromises the academic integrity of U.S. universities, a congressional hearing was told Thursday.
Scholars of China testified that these state-funded Confucius Institutes teach nonpolitical subjects like Chinese language and culture but suppress discussion on sensitive topics like Tibet and the 1989 Tiananmen crackdown on democracy protesters.
The hearing was chaired by House Republican Rep. Chris Smith, an arch critic of Beijing, who questioned whether American education was “for sale.”
Students from China now make up 31 percent of all international students in the United States. Last year, Chinese students in U.S. colleges and universities contributed $8 billion to the U.S. economy, according to the Commerce Department.
U.S. colleges such as New York University are also opening campuses in China, hoping to tap into the country’s enormous, growing pool of students.
The Chinese Embassy did not immediately respond to a request for comment.
Perry Link, a China expert and chancellorial chair at the University of California at Riverside, said independent scholar-to-scholar exchanges with China should be encouraged.
But he said the Communist Party of China opposes the exchanges and prefers to negotiate campus-to-campus cooperation. He said inexperienced U.S. academic administrators, eager for funding, reach protocols with party officials that allow authorities in Beijing to choose teachers and set curricula that provide a rosy “cameo” of China.
LeftProg universities like Berkley, Columbia, Oberlin, and Vassar, won’t have any problem welcoming Chairman Mao’s ideological descendants. Marxism and Islam are already being pushed in American schools, and academic intelligentsia at colleges across the U.S. are staffed with leftover 60’s terrorists who teach a curriculum of anti-American rhetoric and pro-communist dogma.
The United States had better start taking the threat from China seriously.
Just some reminders of how batshit crazy a democratic republic has to be to think that doing business them is a good idea:
ChiCom Air Show Exhibition Depicts Their Forces Attacking a U.S. Navy Vessel
China announces that its nuclear submarines can hit the U.S. with missiles.
More on our own government’s treason:
Feds Allow China to Take Over U.S. Bank
And stupidity:
State Department Confused Over China’s New Aircraft Carrier
The United States owes about $1.2 trillion to China.
The Chinese have engaged in cyber attacks, spying, economic espionage, and actual threatening of U.S. Naval vessels. Yet Obama and the Feds think giving them money, technology, and contributing to the Chinese threat are good ideas.
American companies who do business with China help fund the military buildup. In turn, China arms North Korea and Iran.
A senior Chinese officer declared that China should ‘topple U.S. dominance’. Whether China can actually pull this off is a matter of great debate, but the fact that they have their claws sunk so deeply into us economically, should be a wake up call.
Propping up a communist totalitarian regime with capitalist dollars is suicidal. China is an enemy and should be treated as such instead of having the privilege of being a business associate. Doing business with a communist country will not transform it into a freedom-nurturing society. There will come a day when all of the money we pour into China will come back to bite us in the ass. You can bet on it. I just hope by then that we have a President and a country with the balls not to back down.
Until then, this is what we’re stuck with:
KOWTOW
We are so screwed.
It just makes me so angry to see the united states president bowing to a Red.