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The United States Underestimates China’s Economic Challenge at Its Own Peril

The economy of the People’s Republic of China has been growing much faster than that of the United States for decades. So too has China’s average real wage. China is now the world’s second superpower, catching up to the United States economically if no…

The economy of the People’s Republic of China has been growing much faster than that of the United States for decades. So too has China’s average real wage. China is now the world’s second superpower, catching up to the United States economically if not (yet) militarily. Its political influence grew alongside its GDP. Where once the chief scapegoat for the U.S. was the USSR/Russia, China has replaced the latter in that position. The global tourist industry courts Chinese big spenders. More

The post The United States Underestimates China’s Economic Challenge at Its Own Peril appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Richard D. Wolff.


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