‘China can’t su­per­sede US as top eco­nomic power’

Mail Today - - WORLDLY WISE -

CHINA is no longer in a po­si­tion to su­per­sede Amer­ica as the top global eco­nomic power, US Pres­i­dent Don­ald Trump has said, at­tribut­ing it to the poli­cies ini­ti­ated by him. China and the US are cur­rently locked in an on­go­ing trade war as each coun­try has in­tro­duced tar­iffs on goods traded be­tween each other.

Trump has promised to fix China’s long­time abuse of the bro­ken in­ter­na­tional sys­tem and un­fair prac­tices. Ad­dress­ing a press con­fer­ence at the White House on Wed­nes­day, Trump said, China would have su­per­seded us in two years as an eco­nomic power; now they are not even close.

The US is cur­rently the world’s num­ber one econ­omy, while China has emerged as the sec­ond largest af­ter re­plac­ing Ja­pan. The Pres­i­dent claimed that af­ter he ex­pressed his con­cerns about the ‘Made in China 2025’ pol­icy to the Chi­nese, they dropped the pro­gramme. “China got rid of their China ’25 be­cause I found it very in­sult­ing. I said that to them.

I said, ‘China ’25 is very in­sult­ing be­cause China ’25 means in 2025, they are go­ing to take over, eco­nom­i­cally, the world”, Trump said, adding, “I said, ‘that’s not hap­pen­ing. ‘Made in China 2025’ is a strate­gic plan of the com­mu­nist gi­ant un­der which it plans to in­crease the do­mes­tic con­tent of core ma­te­ri­als to 40 per cent by 2020 and 70 per cent by 2025.”

US is cur­rently the world’s num­ber one econ­omy

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