Scholars predict that China's economy will surpass that of the United States 50 years later.

The rapid growth of China and India's economy in recent years has become a hot topic in the economic field. Recently, the director of the US economic and strategic research institute, fig prestovitz, published a new book titled 3 billion new capitalists: The Great transfer of wealth and power to the east, he specifically discussed the reasons why China and India will catch up with the United States one day.
Prior to the establishment of the Institute of Economic Strategy, prestovitz served as trade officer in the Reagan government and participated in trade negotiations between the United States and China, Japan, Latin America and Europe for many times. He has published many best-selling books.
America is too complacent and arrogant
Prestovitz said that the main advantage of China and India is high-skilled and cheap labor, but these two points alone are not enough to pose a threat to the United States. He believes that the combination of high skills and low costs happens to coexist with the internet and global express delivery services. The Internet and express delivery services eliminate the isolation between time and space. In the past, although these countries also had high skills and low-cost labor, they still faced the obstacle of time and space to deliver products and services to the outside world. Today, it takes only two seconds to send global information over the Internet.
At the same time, the United States is still immersed in the self-satisfied stage, and has not taken any measures to adapt to the new trend of world economic globalization.
Prestovitz said that the United States has been dominant in the world economy for a long time, so naturally there is a sense of superiority. Most Americans firmly believe that the United States's democratic system, free market economy and entrepreneurial spirit, they are all unique to the United States and are the best system that will ensure the constant victory of the United States in the global economy. But in fact, this kind of superiority is undoubtedly making the United States commit suicide. For example, the level of secondary education in the United States is not high. More than half of the doctoral degrees issued by the university are granted to foreign students because their American students are unqualified. More importantly, the US's Federal budget deficit is astonishing, while the country's savings are almost zero.
In addition, the US relies heavily on external borrowing, especially in China. The United States has not invested enough in infrastructure and technology. The internet was invented in the United States, but in terms of broadband installation rate, the United States is now only 16th in the world.
30 years later, the company was more than 50 years later.
Prestovitz said that, whether in China or India, or in Japan and Singapore, policy makers there will find that, how to keep your country competitive after 20 years is not the case in the United States alone. Prestovitz therefore expects that China will surpass the United States in 30 to 35 years and become the largest economic country in the world. India will live in the future and surpass China in 50 years.
"It's like playing a bridge," he said. You need to ask which country has the best card, which is of course the United States. The United States still has the latest technology, the best universities, a stable and transparent system, a higher degree of education for the people, and a culture of entrepreneurship. We have many advantages. But anyone playing cards knows that the cards in your hand are good, the cards are wrong, and they will lose at last. This is now the case in the United States ."