(Washington Insider Magazine) -China and America have long been in an economic battle for dominance, and many people wonder what the outcome will be. America is a global leader and continues to be economically strong in the international markets. In the past, nations were not concerned about China, as it was a predominantly rural nation that relied on its agriculture and outdated traditions.
Still, in recent decades, China has rivaled America due to its fast industrialization, enormous workforce, and technological capabilities. So despite what America might think, China might win in an economic contest against the United States. Here are some of the reasons why America should be concerned about a pending defeat.
China’s Fast Expansion and Modernization
There have been recent studies by institutions such as Harvard that point to the technological capabilities of Chian being one of the most critical factors as to whether or not China will defeat America. China’s exports have increasingly grown from that of an agricultural state to a technology hub.
Companies like Apple and Google have increasingly placed their productions there due to low costs and abundant labor. It’s difficult to find another suitable location, let alone the fact that the United States is not comparable to the capabilities of China’s workforce.
Communism is Not a Deterring Factor for Success
America should be concerned about China’s quick uprising to success because of the incredible progress they have achieved over the years. People have this concept that communist countries cannot challenge and match capitalistic nations, but China is part of the stock exchange.
There are elements of their society that are increasingly westernized, and they continue to find ways to contribute to the global economy. China has found ways to upset the global economy and replace existing but more expensive alternatives to many of its exports to other nations.
Impressive Technological Innovation
America should be concerned about developing China, mainly for the reason that China continues to progress. Their technological innovation has far surpassed people’s expectations, and China even has its space agency. China continues to advance, and it should be a warning sign to western nations that feel that coming some will never be able to match that of the capitalistic world.
China has already proven to the world that its government structure does not hinder its economic capabilities and that despite all odds, it will continue to produce significant technological innovations. In the future, it’s more likely that they will win the economic war and become the new center of economic prosperity and technological innovation for the world to see.
