The contradictions of China-bashing in the United States begin with how often it is flat-out untrue.
The Wall Street Journal reports that the “Chinese spy” balloon that President Joe Biden shot down with immense patriotic fanfare in February did not in fact transmit pictures or anything else to China. White House economists have been trying to excuse persistent U.S. inflation saying it is a global problem and inflation is worse elsewhere in the world. China’s inflation rate is 0.7% year on year.
Financial media outlets stress how China’s GDP growth rate is lower than it used to be. China now estimates that its 2023 GDP growth will be 5-5.5%. Estimates for the U.S. GDP growth rate in 2023, meanwhile, vacillate around 1-2%.
China-bashing has intensified into denial and self-delusion—it is akin to pretending that the United States did not lose wars in Vietnam, Afghanistan, Iraq and more.
The BRICS coalition (China and its allies) now has a significantly larger global economic footprint (higher total GDP) than the Group of Seven (the United States and its allies).
China is outgrowing the rest of the world in research and development expenditures.
The American empire (like its foundation, American capitalism) is not the dominating global force it once was right after World War II. The empire and the economy have shrunk in size, power and influence considerably since then. And they continue to do so.
BRICS is not a coalition in any meaningful sense of this word. how do you have an “coalition” with low intensity border conflict going on? none of these countries have incentives that align with each other, maybe with exception of russia and china, and it’s only as long as it’s profitable to either of them. BRICS was made up by an wall street economist as a way to hype up particular stocks, it’s nothing more, and nothing less.
or, if you want to cast wide net and compare it like this, you can make a comparison between that and usa + canada + eu + turkey + aus + nz + japan + s korea + taiwan, but because these countries have together almost 60% of global GDP, this doesn’t sound favourable anymore
Nz here throwing in our 1% gdp