December 24, 2018

HOW CHINA IS OVERTAKING THE US| LAWRENCE AFOLABI

 

In a world of competing ideologies, innovations, sciences, technologies, politics, and economies, today’s China is a clear miracle. One wonders if the United States (a world power still) is worried or not. At the end of speculations, it is only wise to inquire how exactly China intends to overtake the US.

  1. It is a universally accepted fact that by 2019 at the latest, China will overtake the US as the world’s largest economy.
  2. Currently with a GDP of about $17trn, China is the wonder of the 21st century. She has gone from being a rural backwater which all the world powers fought over during World War II, to a super power within 50 years.
  3. Look at this picture below from the Cairo Conference in November 1943. China’s leader Chang Kai Sheik was effectively told what to do by Franklin Roosevelt and Winston Churchill. He had no choice than to answer Yes Sir.
  4. During World War II, Japan murdered about 50 million Chinese as they captured her territory at will. A good number of Chinese people were used for biological experiments by Japanese scientists too. Essentially, the Japanese considered the Chinese as sub-humans, similar to the way European colonialists regarded sub-Saharan Africans.
China's leader Chang Kai Sheik at Cairo.
China’s leader Chang Kai Sheik at Cairo
  1. At the time, I do not believe China even manufactured an assault rifle. A rural agrarian economy made up of millions of peasants, China lived at the mercy of her powerful neighbours. Prior to World War II Britain had already annexed Hong Kong and Japan had taken Manchuria. Japan eventually planned to colonise the whole of China, just as Europe took over the whole of Africa. Like Nigeria, China was a sleeping giant with all the potential but unable to even manufacture weapons to defend herself.
  2. However, everything in life is cyclical. In 1872, the US overtook the UK as the world’s largest economy and has held the position ever since. We are now on the cusp of a new era, with the land of the dragon and the panda set to take humanity to a new level.
  3. When one looks at the fact that everything that is the biggest in the world today, are all based in China, the country’s rise should not surprise anyone. The world’s longest bridges, longest roads, tallest buildings, largest hospitals, fastest trains, largest train stations, biggest airports, etc, are all in China.
China and agriculture
China and agriculture
  1. For me, China has not actually re-invented the wheel. All the country has done is leverage its population of 1.3bn. The larger your population, the larger your economic potential. What China has done is put its people to work. Simple!
  2. With a weak yuan, Chinese exports have become extremely competitive in the global market. This means that other manufacturers are struggling to compete with Chinese products, hence why all manufacturers are locating their factories to China. About half the world’s washing machines, fridges, TV sets, desktop PC’s, etc are all now manufactured in China.
One of the wonders in China
One of the wonders in China: Overtaking the US?
  1. China has shown the way forward for a large developing country like Nigeria. Exploit the weakness of your currency, get your population off the land and into factories and manufacture, manufacture, manufacture. This is not rocket science. Whether my people will listen though is another matter. In our naiveté, we are praying for a strong naira and in our typical misguided way, we are praying for divine help, as we expect a messiah to come from somewhere and bail us out. It is not your leaders or a Moses that will get us out of this rot, it is you!

 

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