China seems to have got a competitive edge over the U.S. because of the covid lockdowns in America. A fresh report from the National Review revealed that the response to COVID has changed almost all social and economic activity in the nation for over a year.
Due to this, our national debt has exploded along with government spending, which makes our economy less competitive for the long-term. Also, China has now expanded its influence in the U.S. amid the increasing popularity of socialist opinions.
“China is playing a large role. The large investments happening within China during the past six months, along with their exports increasing greatly for electronics and digital equipment,” explained Hamid Rashid, the leading author of the World Economic Situation 2021. “All the other exports from China have exceeded their pre-crisis level…this is driving a good outlook for the country.”
According to Bloomberg Economics nowcasts, the world economy pushes into the second quarter with re-opening across the U.S. and Europe set to drive growth to an annualized 5.7%, up from 4.1% in the first quarter. China is “easing back to a more normal pace of growth”. pic.twitter.com/2sMsTvWISq
— Tatiana Palermo (@tatiana_palermo) May 10, 2021
The report ends with the conclusion that Democrat Party measures were the deciding factor that gave China their current competitive advantage in the global economy, leaving the U.S. lagging behind.
Author: Blake Ambrose