Why China is tak­ing over

The Pak Banker - - FRONT PAGE -

in two im­por­tant spheres. As Wray put it, "In eco­nomic and tech­ni­cal terms [China] is al­ready a peer com­peti­tor of the United States … in a very dif­fer­ent kind of [glob­al­ized] world." In other words, China is ris­ing and the US is fall­ing. Don't just blame Trump and his cronies for that, how­ever, as this mo­ment has been a long time com­ing.

Facts speak for them­selves. Nearly un­scathed by the 2008-09 global re­ces­sion, China dis­placed Ja­pan as the world's se­cond-largest econ­omy in Au­gust 2010. In

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