According to a latest report, China is expected to surpass the United States as the World’s Biggest Economy by 2028. The country broke the shackles of a 20th century opium economy and is emerging as a phenomenal economic superpower. However, it might make better sense if its projected “World’s Biggest Economy” status could make a distinctive difference to the life of an average Chinese who would like to call China his own than to a world that could be carried away by admirations.
- The Chinese population in the United States is around 4 million (2010 census) while Americans in China constitute just 72,000 (2018 estimate). This compares and underscores the potential of a country that can offer better employment / business prospects for a productive individual.
- In 2018, the median income of U.S. households stood at $ 74,600 while that of Chinese households stood at 26,523 Yuan (Today 1 U.S. dollar = 6.50 Yuan).
- In 2015, as far as the job satisfaction level was taken into account, in the United States, 37% reported that they were “very satisfied” and 51% reported that they were “somewhat satisfied”. The mean value of job satisfaction level in China stood at 4.745 (second worst among 36 countries).
- World carbon dioxide emission from the consumption and flaring of fossil fuels, 2006 report (million metric tons of carbon dioxide) – China: 6017, the United States: 5902.
World’s biggest economy in the making, with these facts to chew for now? One may find it very hard to digest the economics.