Each of these events has the potential to erode China’s global credibility as it seeks to replace the United States as the world’s preeminent economic superpower. China’s 2019 GDP of $27.4 trillion by purchasing power parity (PPP) is already larger than America’s ($21.4 trillion). Apart from the three events that could slow China’s ascent – trade, Taiwan and Hong Kong – several other pressure points are building up. As The Economist observed: “Hong Kong is China’s conduit. If Hong Kong came to be seen as just another Chinese city, Hong Kongers would not be the only ones to suffer.

Source: dna July 18, 2019 01:30 UTC