Strategic Competition between China and the US and its impact on world order??
Your opinions are required:
My answer is,
As US has GDP $ 19.4 trillion UDs and China has $ 11.8 Trillion UDs according to the nominal ratio but according to GDP PPP(included inflation) US is $ 53,417 trillion UDs and China is $ 14,275 trillion UDs.
Only US has GDP nominal and GDP PPP as equal numbers because it has international reserved currencies where prices are internationally exchanged in same USD value as domestically; nonetheless China has 13 trillion USDs nominal GDP and 21 trillion USDs as GDP PPP. 13-- 21 still China is lower 7 trillion UDs in nominal ratio.
US economy is on consumption base whilst China had cheap export Oriented till 2005 now they are focusing on Consumption and on investment.
In 2020 according to SSF US GDD would be $ 23.3 approx trillion UDs,China will be $ 24.6 approx trillion UDs.
But economy is unpredictable.
Second now look US Mutual funds/ investment are worth of $ 55 trillion UDs where as China has $ 3.41 trillion UDs. World has $70 trillion UDs and US has 65 % of it.
3rd point Petrodollar that makes the US the great power as compared to China.China is working for petroyuan but she has week global connectivity,democratically stagnant.
China has CPEC and OBOR for global connectivity.
China is coping world technology by buying shares and stocks
