The Chinese economic model is entering into crisis, as some of its fundamental levers are also being exhausted: The real estate bubble linked to an unsustainable shadow loan market, an economy based on the control of raw materials and intensive manufacturing, and a demographic curve that increasingly favors the labor-intensive production model that has fueled the fire of the most prosperous era in its history for at least four centuries.
Although it is still early and there are many years ahead of world dominance in many matters, Chinese leadership will be replaced by other emerging powers, and also those traditional powers, such as the United States of America, which are overpassing the storm caused by “the world's factory” plus to more radical innovation and cheap energy. This is what comes in a theoretical model where China is exhausted, and the new world economic order will have as its protagonists powers that you cannot even imagine.
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#china #chineseeconomy #unitedstates
10 дек 2023
