In record time, not exceeding two decades, China has turned that Asian giant from a developing country into the greatest threat to US hegemony over the world.
The Chinese magazine Muy Negocios & Economía says the Chinese economy is growing rapidly, in parallel with the growing demand for luxury goods and the number of the rich in the world.
But the magazine indicates that China, despite being the largest exporter of goods in the world, the miracle of this country with the highest population is not only just the manufacture and export of products.
She adds that most of the purchases found in any home around the world today might be written "Made in China", from air conditioner to computer to clothes.
And behind the trade war waged by US President Donald Trump against the Chinese competitor, there are deeper calculations than just the dispute over the technology of the fifth generation networks and security issues. In addition, this confrontation, which would have been considered unequal 20 years ago, today in 2020 has become very equal, and no one can To expect who will emerge victorious.
Chinese companies are now competing with their American counterparts to control various sectors and markets in the world, as they no longer have the ability to manufacture cheap and low-quality products, but have slowly developed their capabilities to gain a good reputation as a producer of high-quality goods.
China imports more agricultural products from America than Canada and Mexico
China represents the largest market for American agricultural products, as it buys $ 9.2 billion worth of American farmers ’products, including more than half of the soy crops, and this distinct location of Beijing as a customer of the American countryside represents one of the most important weapons of the Chinese in their response to the tariffs imposed on them by Trump .
The largest retail trade
If you think that Amazon sells a lot of products and that there is no competitor, you are wrong, as the Chinese Alibaba Group, which also owns AliExpress, is the largest retailer. In the world, whether via the Internet or traditional selling methods, this Chinese giant sells 3 times what Amazon sells each year.
The second most country with billionaires in the world
In 2018, China had 388 billionaires, more than half the number in the United States, which is 680, but this is the number of these wealthy people in China has grown more rapidly than any other country.
The Chinese spend about 73 billion dollars on luxury goods
The McKinsey Institution reported in its 2016 report that 7.6 million Chinese families have the ability to purchase luxury goods, and in 2018 the Chinese bought luxury goods valued at $ 73 billion, which is equivalent to a third of global sales of this category of expensive products.
China's economy exports increased by 954% between 1970 and 2010
The Communist regime in China tried for several years to isolate the economy, and barely traded with the rest of the world.
According to the World Bank data, exports accounted for only 3% of GDP, but in 2010 this figure rose to 26%, and the peak of Chinese exports was achieved in 2006 when it reached 36% of the national economy.
The average income of Chinese families increased by 400% in just 10 years
The Chinese economy is experiencing a state of recovery, which not only led to the increase in the number of billionaires, but also reflected positively on the standard of living of the working class. During the period between 2002 and 2012, the average income of the Chinese family increased from 987 dollars annually to 4273 dollars, or 400%.