A forecast from Bloomberg Economics now projects that the size of the Chinese economy will not successfully surpass the size of the American economy — despite its vastly greater population.
But the core problems are endemic to the regime: Centralized authoritarian control is incompatible with a wide-open, innovative, free-flowing modern economy.
Open information flow is crucial to any nation; when the state suppresses information unflattering to the regime, then everything is bound to sink into mediocrity.
Since late 2021, investment in the construction of manufacturing facilities has more than doubled.
Chips, electric vehicles, renewable energy sources and batteries are being manufactured in places like Michigan, Kentucky, Minnesota and Arizona.
Organizations:
Bloomberg Economics, .
Locations:
China, America, Midwest, Michigan , Kentucky, Minnesota, Arizona