So-called “Peak China” is simply a Western campaign for China to commit economic suicide
Despite the fact that China’s economy continues to far outgrow all major Western economies the Western media is energetically promoting a myth of “peak China”.
Economics
China’s goal of 5 percent growth in 2024 is entirely realistic
The reason why some media outlets were keen to declare China’s target growth rate as unrealistically high is because achieving it will destroy the remnants of their claims of “peak China” – the idea that China’s economy has ceased to far outgrow economies in the West.
China’s economy is still far out growing the U.S. – contrary to Western media “fake news”
China’s economy, as it heads into 2024, has far outgrown all other major comparable economies. This reality is in total contradiction to claims in the U.S. media.
The strategic significance of China’s achieving 5.2% GDP growth in 2023 – and a real comparison to the U.S.
China’s GDP figure for 2023 shows that it continues to be growing above its strategic target for 2035 – at a rate far exceeding the U.S.. All the claims of “strength” in the U.S. economy and “crisis” in China are the purest hot air.
The facts show that China continues to far outperform the G7 economies
China is far outperforming the U.S., but U.S. economic growth, an annual average 2.0% a year, is the only one out of the G7 which cannot be described as disastrous.
Why the G7 no longer dictates to the G20
The G20 summit was an historic one. It marked a decisive change in the relative weight of the imperialist countries versus the Global South, to the benefit of the latter.