While irrational COVID lockdowns by Democrat governors are destroying the economies in states like Michigan, New York, and California, the economy in the Communist nation that gave us the Chinese virus, is poised to pass up the US by 2028. Unless President Trump is able to stop the steal of the November election, the prospect of China being stopped by pro-China Joe isn’t very likely.
New York Post reports – China’s economy has bounced back so quickly after the coronavirus that it is expected to displace the US as the world’s biggest economy by 2028, according to a new report.
In its annual study of 193 countries, the Center for Economics and Business Research said that China had quickly recovered from the effects of COVID-19 and would grow by two percent in 2020 — the only major world power to expand.
The US is expected to contract by 4.4 percent this year — the country’s biggest fall since the Second World War, according to the London-based group.
“The big news in this forecast is the speed of growth of the Chinese economy,” said Douglas McWilliams, deputy chairman of the Center for Economics and Business Research. “We expect it to become an upper-income economy during the current five-year plan period (2020-25). And we expect it to overtake the US a full five years earlier than we did a year ago.”
According to Frontpage Magazine – A “rising China” is a positive development only for China. A “rising China” is a very negative development for the United States. China’s rapid economic growth, aided by Biden, enabled the Chinese Communist regime to build up its military and cyber technology to the point that it has become the greatest single threat to our national security.
China did not become our chief adversary on the global stage overnight. China’s economy took off only after it joined the World Trade Organization (WTO) in 2001. And Joe Biden was in China’s corner every step of the way, beginning with his strong advocacy for China’s membership in the WTO while he was in the Senate.
In July 2000, during a Senate Foreign Relations Committee hearing on giving permanent normal trade relations status to Communist China, then-Senator Biden asserted as a foregone conclusion that “granting permanent normal trade relations to China has little to do with our national security. It does not increase their access to controlled U.S. technology. It does not increase their access to our markets.” Biden then claimed that bringing the Chinese regime into contact with the international norms of the WTO “is the best way to get China to clean up its act.”
Biden was wrong as usual. The Chinese Communist dictatorship did not clean up its act. It did the opposite. As former assistant director of intelligence for the FBI Kevin R. Brock observed in an article, he wrote for The Hill, “China largely has cheated its way to prosperity.” Stealing valuable intellectual property and using deceptive tactics to gain an unfair economic advantage are second nature to the regime and its state-owned companies. The regime’s atrocious human rights abuses have gotten much worse.
According to the Economic Policy Institute, “the growing U.S. trade deficit with China has eliminated 3.4 million U.S. jobs between 2001 and 2017, including 1.3 million jobs lost since 2008 (the first full year of the Great Recession).” This all took place since China became a member of the World Trade Organization, right under Biden’s nose and with his help while he was a senator, vice president, and Obama’s point man on China.
The most benign explanation for Biden’s pro-China bias is that he is a fool, who is oblivious to China’s growing threat to the U.S.’s position as the world’s preeminent global economic and military superpower.
There is also a more sinister explanation for Biden’s willingness to give China the benefit of the doubt. Joe Biden’s son Hunter reportedly cashed in while his father was the point person on Obama-Biden administration policy towards China.