Not just China: Goldman Sachs predicts another country to surpass US economy in the next 50 years

[buritobr]

There were those forecasts in the 1950s which said that one day the USSR would have higher GDP than the USA and those forecasts in the 1980s which said that one day Japan would have higher GDP than the USA.

On the other hand, in the last 30 years, we could see those forecasts made by the Mises fan club which said that the "prosperity of China is fake" and that one day China will have a big crash. Years and years passed, and this day still didn't arrive yet.

[OSR stands with Israel]

There were those forecasts in the 1950s which said that one day the USSR would have higher GDP than the USA and those forecasts in the 1980s which said that one day Japan would have higher GDP than the USA.

On the other hand, in the last 30 years, we could see those forecasts made by the Mises fan club which said that the "prosperity of China is fake" and that one day China will have a big crash. Years and years passed, and this day still didn't arrive yet.

It has actually been happening for the past couple of years

[TiltsAreUnderrated]

There were those forecasts in the 1950s which said that one day the USSR would have higher GDP than the USA and those forecasts in the 1980s which said that one day Japan would have higher GDP than the USA.

On the other hand, in the last 30 years, we could see those forecasts made by the Mises fan club which said that the "prosperity of China is fake" and that one day China will have a big crash. Years and years passed, and this day still didn't arrive yet.

It has actually been happening for the past couple of years

Their growth is slowing and there are significant challenges for the long term. This is true for many economies.

China's particular set of problems may herald a financial crisis, but they can't be considered a "big crash" in themselves.

[Vosem]

There were those forecasts in the 1950s which said that one day the USSR would have higher GDP than the USA and those forecasts in the 1980s which said that one day Japan would have higher GDP than the USA.

On the other hand, in the last 30 years, we could see those forecasts made by the Mises fan club which said that the "prosperity of China is fake" and that one day China will have a big crash. Years and years passed, and this day still didn't arrive yet.

It pretty much did happen in the 2020s. Listening to the Mises fan club is a good way to learn about how the world works and what is likely to happen in the future.

https://twitter.com/StefanFSchubert/status/1680116856470790144

(Though, before someone beats me to the obvious counter-argument -- China is very likely already ahead of the US if you measure GDP adjusted for purchasing power parity, which is in many ways a more reasonable and valuable metric. But the idea that Chinese economic growth post-COVID has continued on pre-COVID trends doesn't seem borne out by the data.)