Preface

As is well known, our country and the United States, as major world powers, are on par with each other in terms of both economy and trade.

However, the difference between our country and the United States lies in the fact that our country has always adhered to the concept of win-win cooperation to achieve common development, while the United States is solely focused on how to "suppress" other countries.

Nevertheless, is our country unaffected by the United States, doing what it should do? However, there is a piece of news that has emerged, indicating that our country's GDP has now plummeted to 60% of that of the United States.

This news quickly aroused the curiosity of netizens. What exactly is going on? Is the rise of our country really going to be interrupted? Don't worry, read on.

Decline of China's GDP

In recent years, our country has been developing in the field of technology, in order to accelerate national development, have its own products, and showcase the strength of China to the outside world.After all, our country started late, and coupled with too many restrictions previously, it has led to a significant lag behind other countries in both the economy and the field of technology.

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As time went by, our country began to develop vigorously. In just a few years, from being "looked down upon" by Western countries to becoming the world's second-largest economy, our country has experienced the changes of the times and has gradually become stronger.

Especially in construction, one high-rise building after another has risen directly, and the outside world calls us the "infrastructure maniac." In high-speed rail, our country has made rapid progress.

Not only that, but we have also helped many countries build high-speed railways, helping them achieve the "fast track" of international economic development. Just when everyone is optimistic about our country, there is such a piece of news coming out.

What's going on with our country's GDP decline? When our country entered 2021, it submitted an impressive "report card" in terms of the economy.

In the first quarter of 2021, China's domestic GDP reached 2.4931 trillion yuan, a year-on-year increase of 18.3%. At this time, it indicates that China's economy is developing continuously and stably, and is rapidly rising.And during this period, despite the United States "strangling" in the middle, China's determination to forge ahead has never stopped, and has even accelerated its pace.

By 2021, China's GDP had reached 77% of that of the United States. During this period, the global share of the economies of China and the United States also underwent significant changes.

We all know that the economy of the United States has always been at the forefront, and the country is the world's largest economic power, accounting for 56% of the global GDP at one point after World War II.

However, with the gradual rise of emerging economies such as China, this proportion of the United States dropped to about 25% in 2022.

China's economic development is truly remarkable. In 1978, it only accounted for 1.7% of the global GDP, and by 2021, it had risen to 18%, with a contribution rate to global economic growth of about 25%.

Seeing such numbers, we can't help but give a thumbs up to our own country. In a short period of time, there has been a significant improvement in both the economy and construction.At that time, many outsiders looked at our country and believed that our country's future development could achieve greater breakthroughs. However, by 2022, our country's GDP had already dropped to 70%.

This is not the end, our country's economy is still continuing to decline. By 2023, this proportion once again fell to 65%. What's more exaggerated is that by the first quarter of 2024, our country's GDP total only accounted for about 60% of that of the United States.

Seeing this, many netizens are curious about what exactly is going on? Why did it suddenly drop from 77% to 60%? What happened in the process?

Reasons for the decline in China's GDP

Speaking of the reasons for the decline in our country's GDP, one is the impact of short-term factors, and the other is the adjustment of the economic structure. Our country is currently experiencing a transformation from an economic growth model driven by real estate and infrastructure to a more diversified and sustainable development model. During this process, fluctuations in growth are inevitable.

In addition, there are challenges from the international environment. We all know that since our country has developed, the United States has always regarded our country as a "threat" to them.As long as they find an opportunity, they will do something to our country, such as "restricting" the development of our country in various aspects, which has put some pressure on our country's economy.

However, everyone should not be pessimistic. Although our country's economy faces some challenges, it still maintains a stable growth trend overall.

Since February of this year, the world's major economies have successively released the economic data for 2023. In 2023, the U.S. GDP grew by 2.5%.

In comparison, our country's GDP grew by 5.2%, and the total economic output exceeded 126 trillion yuan, which also makes our country maintain a leading position among the world's major economies.

In this way, our country's economy is not as bad as we think. Some analysis shows that the U.S. economy will grow by 2.1% in 2024, and it is expected to achieve a "soft landing."

However, due to the impact of high inflation, the Federal Reserve's interest rate hikes, and the tightening of fiscal policy, the direction of the U.S. economy is still very uncertain.Some argue that China's Gross Domestic Product (GDP) as a percentage of the US GDP has fallen from a "historical high" of 77% at the end of 2021 to below 60% now, suggesting that China's economic growth may have entered a "bottleneck period."

In fact, at the end of the day, GDP is just one economic indicator and cannot be the sole reference for measuring a country's strength, development achievements, and people's well-being.

According to a report co-authored by think tanks from China, Russia, Canada, and India, as reported by Russia on August 5, by 2035, China is expected to become the world's largest economy, with most industries reaching a world-class level in scientific research and manufacturing capabilities.

The report further points out that by advancing a series of new mechanisms, China will create a higher level of economy, which will help China further integrate into the global economy and enhance its international competitiveness and influence.

Source of information: Overseas Network, August 6, 2024, report on the report of the four countries' think tanks: China is expected to become the world's largest economy by 2035.

Seeing these reports, we can't help but give a thumbs up to our country. From being "ridiculed" to becoming an economic powerhouse, we have paid too much along the way.

The rise of our country will not be interrupted by this. Our country still has many advantages. In terms of infrastructure, it is globally recognized and has shown the "Chinese strength."In the field of technology, our country is continuously conducting research and striving to catch up. It is quite normal to experience ups and downs in the economy; all we need to do is focus on our own work.

Conclusion

Our country still has many impressive performances, and it is believed that with the support of these technologies, our economy will continue to remain stable, once again demonstrating the wisdom of a great nation.

I believe that our country's strong economic potential is endless. Step by step, we have come to where we are today, and our country will not be discouraged by the current situation.

It is normal for a country to have fluctuations in its economy, and this does not mean anything. The development in the future can show a country's strength, and I also hope that everyone will pay more attention to it.