America and China are engaged in a monumental struggle, one that might even be called a war, to determine which nation will be the reigning superpower in the 21st century; further to determine whether military power or economic power will prevail in this great battle of ideologies. As this conflict intensifies it is becoming more and more evident that China's economic prowess is beginning to bring much greater results than is America's relentless pursuit of war.
As this process enfolds, one nation is amassing great wealth and economic power, the other has a bleeding economy and is becoming financially unstable. One nation has a thriving manufacturing industry, creating millions of new jobs; the other has a manufacturing sector that is drying up, with millions of jobs having been outsourced overseas. One is maintaining and vastly improving its national infrastructure, its cities and transportation systems, while the other is letting its infrastructure fall into disrepair; many cities falling into a state of decay and a transportation system that is overly geared to the use of petroleum even as the world begins to experience a decline in the supply of this precious form of energy.
Think about how radically things have changed. In decades past China was thought of as a kind of third world undeveloped nation, populated by backward, uneducated people; a nation that no one knew much about, but one that was considered hostile and a potential threat to other nations. What a mistaken assessment that was. Conversely, America was the acknowledged leader of the world, a great economic power, a manufacturing giant, admired and respected for its creativity and innovation.
Now all that has changed quite dramatically; it's as if America and China have reversed roles, that China has become what America used to be and that America has now regressed to the point that it can no longer function effectively without huge infusions of Chinese loans.
So, China sits in the driver's seat, patiently watching and waiting, biding its time. It is waiting to see, not if, but when, America will bring about its own demise as it destroys its financial foundations through the reckless pursuit of military domination around the world. China knows that America can't continue on this disastrous course much longer and that, if it remains patient and continues to follow its current strategies, it is destined to become the mightiest economic power in the world.
China has the second largest economy in the world behind the U.S. but its economy is growing much faster. Noted economists indicate that China's economy will become #1 in the world by 2025, or, possibly, much sooner if America's economy continues to hemorrhage. The reason for China's economic success is that it has made the development of its industrial might and exports its number one priority.
China is not burdened by huge national debt and deficits while America is. It might be called America's Bank since, without the mega billions that it continues to loan America, this nation of ours would be near financial collapse. Of the total U.S. national debt, China holds about $1.7 trillion, all elements included. It also holds an annual trade deficit of $252 billion over the U.S. (2010). That former backward nation of China is eating America's economic lunch.