Koon Yew Yin's Blog

China has overtaken US - Koon Yew Yin

Koon Yew Yin
Publish date: Fri, 16 Sep 2022, 05:50 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.

All materials published here are prepared by Mr. Koon Yew Yin

After seeing the title of my article, many of you do not believe me because you have not heard it from any of the western media. If you Google “China has overtaken US, you will see these 2 images as shown below.

According to IMF’s World Economic Output 2020 released recently, China has overtaken US to become the world’s largest economy. The world is waking up to a new reality post the devastating pandemic that brought everything to a grinding halt. One of them is the rise of China as the undisputed new economic superpower.

The average annual GDP growth rate for China is about 10% and the average annual GDP growth rate for US is about 2% in the last 40 years as shown on the 2 charts below.

An Economic Miracle

China commenced its transition to a global powerhouse in 1978, as Deng Xiaoping ushered in sweeping economic reforms. In the three decades from 1980 to 2010, China achieved GDP growth averaging 10%, in the process lifting half of its 1.3 billion population out of poverty. The Chinese economy grew five-fold in dollar terms from 2003 to 2013, and at $9.2 trillion. China has lifted more than 500 million people out of poverty in the last 40 years. China is the largest producer of goods and services in the world and wants to find friendly countries to cooperate for mutual benefit.

China Belt and Road initiative (BRI)

There are 197 countries in the world. Since March 2022, 147 countries have joined the Belt and Road Initiative (BRI) by signing a Memorandum of Understanding (MoU) with China.

The countries of the Belt and Road Initiative (BRI) are spread across all continents:

  • 43 countries are in Sub-Saharan Africa
  • 35 BRI countries are in Europe & Central Asia (including 18 countries of the European Union (EU) that are part of the BRI)
  • 25 BRI countries are in East Asia & pacific
  • 20 BRI countries are in Latin America & Caribbean
  • 18 BRI countries in Middle East & North Africa
  • 6 countries are in South East Asia

BRICS

The BRICS alliance that we know today consists of Brazil, Russia, India, China and South Africa – five major emerging economies with over three billion people that account for over 40% of the world's population and just over a quarter of the global GDP.

5 new members namely Saudi Arabia, Argentina, Turkey, Egypt and Iran have joined making a total of 10 countries in BRICS. 

Shanghai Cooperation Organization (SCO)  

The Shanghai Cooperation Organisation (SCO) is a permanent intergovernmental international organisation.

The main goals of the SCO are strengthening mutual confidence and good-neighbourly relations among the member countries; promoting effective cooperation in politics, trade and economy, science and technology, culture as well as education, energy, transportation, tourism, environmental protection and other fields; making joint efforts to maintain and ensure peace, security and stability in the region, moving towards the establishment of a new, democratic, just and rational political and economic international order.

The SCO currently comprises eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four Observer States interested in acceding to full membership (Afghanistan, Belarus, Iran, and Mongolia) and six “Dialogue Partners” (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka.

As I mentioned above, China wants to develop friendship and cooperation with as many countries as possible for mutual benefit. Moreover, all these countries want to take the advantages of using their own currencies to trade among themselves. As a result, the US will lose its advantage of printing more money. Inflation in US is highest in the last 40 years:

USA is so much different from China. After the 2nd world war, US has bombed 33 countries as listed below:  

1.    China 1950- 1953

2.    Korea 1950 - 1953

3.    Guatemala 1954

4.    Indonesia 1958

5.    Cuba 1959 -1961

6.    Guatemala 1960

7.    Congo 1964

8.    Vietnam 1961- 1973

9.    Laos 1964- 1973

10. Guatemala 1967-69

11. Cambodia 1969-70

12. Grenada 1983

13. Lebanon 1983, 1984

14. Libya 1986

15. El Salvador 1980s

16. Nicaragua 1980s

17. Iran 1987

18. Panama 1989

19. Iraq 1991

20. Kuwait 1991

21. Somalia 1993

22. Bosnia 1994, 1995

23. Sudan 1998

24. Afghanistan 1998

25. Yugoslavia 1999

26. Yemen 2002

27. Iraq 1991-2003

28. Iraq 2003-present

29. Afghanistan 2001-present

30. Pakistan 2007-present

31. Somalia 2007-8, 2011

32. Yemen 2009, 2011

33. Libya 201

US has 750 foreign military bases; they are spread across 80 nations! After the U.S is the UK, but they only have 145 bases. Russia has about 3 dozen bases, and China just five. This implies that the U.S has three times as many bases as all other countries combined. As a result, average annual GDP growth rate is only about 2% while China has an average of 10%.

US military budget is US$ 773 billion.

Discussions
Be the first to like this. Showing 19 of 19 comments

Tobby

Back in the 90s, almost all Japan companies were dominating the world! Today, only Toyota still on that list but probably goner if EVs dominated by China!
Today, we see US companies rule the global economy! But maybe few years down the road, probably only Tesla will still be on that list!
I believe BYD will be world biggest car producer in the world! Tesla may not even be on that list! Anyway, Tesla is not car producer but energy company so it's totally understandable!
On social media front, US companies still rocking! But as we are seeing, Facebook already on decline, Tiktok is now moving up!
Maybe few years down the road, Google may not be No.1! Wassap will be replaced by another messaging app! But i think Youtube continue to appeal to global audience!

2 months ago

Lewis Lee

To those brain-washed "chinese rubbers" out there, let CCP's communism + autocracy rule the world !!
when that day come, CCp will build millions of "re-education camp" to brain wash , torture those disobey them , those "chinese rubbers" will prosper with corruption, world will be peaceful in that way !! hooray

2 months ago

Lewis Lee

https://klse.i3investor.com/web/blog/detail/savemalaysia/2022-09-16-story-h1649129494-In_latest_report_democracy_watchdog_lists_ways_China_is_shaping_convers
In latest report, democracy watchdog lists ways China is shaping conversation in Malaysia

chinese rubbers, please read this !

2 months ago

TrippleZ

War is the only way out.

2 months ago

Starship2

Based on the World Bank , the GDP for the year 2022 for USA is $20.89 trillion, for China is $14.77 trillion, Japan is $5.66 trillion.. In comparison, the population of the USA is only 338 million while that of China is 1425 million

2 months ago

Starship2

China has territorial disputes with may countries including Malaysia. Our country has a made a submission in 2019 to the United Nations Commission on the Limits of the Continental Shelf (CLCS) as part of efforts to safeguard our territorial integrity over parts of the South China Sea

2 months ago

beinvested

1. The emperors prayed to Shang Di like the "Father in Heaven" instead of worshipping the dragon or the phoenix. Thy believed that the is a "Boss" who in charge of this world/running the show because there is a higher power than the kings/emperors. So who wanted to deny the existence of God?

Psalm 14 -
New International Version
Psalm 14
For the director of music. Of David.
1 The fool[a] says in his heart,
“There is no God.”
They are corrupt, their deeds are vile;
there is no one who does good.

2 The Lord looks down from heaven
on all mankind
to see if there are any who understand,
any who seek God.

Communism was not invented by the Chinese but was from Europe. China used this ideology called communism to move the people to work together for the best result.

2 months ago

beinvested

It can be difficult for China to depart from this communism ideology that worked well for the country since without the emperor/kingdom of China.

But like other nations, there are always some "sour grapes" or traitors.

2 months ago

beinvested

Ming dynasty was defeated by the founder of the Qing dynasty in 1644. The Manchus are not of Han tribe. Following almost three hundred years under the Qing Dynasty, almost not many wanted to be identified today as a Manchu. Today, there are Chinese have got the Manchu's blood line. But The Chinese today have the Manchus to thanks for establishing the huge territorial base until China became one of the countries with the largest land today.

How the Manchus/Qing dynasty collapsed in 1912 or how the Ming Dynasty defeated by the invading Manchus are identical in certain aspects.

2 months ago

mach10

the US wants to weaken CHINA in every possible ways like it does to RUSSIA in the ukraine russia conflict . the US is spreading lies after lies against China . Xinjiang genocide is a good example.

2 months ago

mach10

Fabricating and spreading lies, and manipulating media into hyping so-called "evidence" for "presumption of guilt" is a common practice for the White House to slander, tarnish and oppress other countries.

https://www.helsinkitimes.fi/china-news/19669-the-us-is-doing-everything-to-make-and-spread-lies-about-covid-19.html

2 months ago

mach10

In 2022, the U.S. ranked 42nd in the Reporters Without Borders Press Freedom Index. This is an overall measure of freedom available to the press, including a range of factors including government censorship, control over journalistic access, and whistleblower protections.

https://en.wikipedia.org/wiki/Freedom_of_the_press_in_the_United_States

2 months ago

AlsvinChangan

WHEN push to the corner CHINA will react

CHINA already have Rockwell, ALLwinner, Starfive promising CPU designers

BROADCOM or ARM Cortex CPU is only all we know about

Before x70 arrive at our country, nobody ever imagine how much CHINA automotives had advanced

2 months ago

Tobby

Qqq! Don't bother with US! They will end up having civil war! It's no brainer eventually we will see crash between the wealthy and the poor! US is so divided, the gap between americans are just too wide to close!

2 months ago

Tobby

Americans unite! Fat dream! US is capitalist nation gone wrong! With democrazy system! Where the 0.01% want to control US and the world! Wake up! Nobody respect US anymore! With senile president and clueless vice president! Only interested in starting new war here and there! All the elites thinking about is how to sell old weapons and push for new weapons which may not even be in the market just like Russia!

2 months ago

Tobby

US nowadays are so far behind! No more new innovators to come out with latest breaktrough! They do have Elon Musk which is now enemy of Democrats!
US today is more interested with pursue of gender rights! So called 'emotional intelligence' more than IQ! Quality of education now far behind!

2 months ago

Tobby

US today is a total joke! Even it's once great softpower is now overtaken by Korean! I mean, i hate to admit it but nowadays korean series and movies are better than Hollywood! Hollywood nowadays keep pushing the same stale sequels! Story line and plot full of WOKE narrative!

2 months ago

Tobby

Qqq! Seeing alot of korean series and movies lately! They are indeed very good! Gone are the days of that dumbass lovely dovely korean thingy! Nowadays, korean softpower has taken a totaly new level! But still hate kpop, fortunately kpop seems dying already!
Anyway, nowadays, music are total trash regardless where they come from! All they are talking about is sex, sex and sex! Come on, most of us only do like 2 minutes with that 2 inches!

2 months ago

Tobby

Anyway, love songs are going out of trend too! I mean, do we really fall in love and stay together forever and ever! I mean, the only reason why most stay together is just because of companionship! I never say those dumbass 'I love you' to my wifey! All we do is talk about food, where to go or where to go vacation next!

2 months ago

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