Centre for Economics and Business Research says it expects this to happen half a decade sooner than it forecast a year ago

China’s share of global GDP has increased from 3.6% in 2000 to 17.8% in 2019 and will continue to grow, the CEBR said. It would pass the per capita threshold of $12,536 (£9,215) to become a high-income country by 2023.

absolutely insane

  • SankaraIsMyDaddy [they/them]
    ·
    4 years ago

    I don’t know. Perhaps they fear alienating foreign investors if they just start seizing wealth; people will refuse to invest in China and any nation knows that it is forced to pay debts or not jail and seize the wealth of its billionaires/property unless they want to stop borrowing, or have capital flight from their country. China is a developing state still, and they still do need investment.

    Is there a point where you think China could allow too much wealth to accumulate in the hands of billionaires such that it would interfere with implementing communism?

    It is also very likely that the US will break China though.

    Yeah... :sadness: