According to a Friday research from a Chinese think organization, the talk about “Peak China” is unfounded. Similar to this, the “China collapse” notion is flawed.
The idea that China has peaked in terms of economic development and global impact is known as the “Peak China” hypothesis. As a result, the nation will eventually undergo a decline.
According to the Chongyang Institute for Financial Studies of Renmin University, the study methodology used by “Peak China” theorists has serious faults, including gaps in justification and few evidence supporting strong conclusions.
According to the “Peak China” idea, a slowdown in China’s economic growth indicates that it has peaked. The institution countered that it is a normal situation that arises when economic growth progresses. Economically speaking, the downturn does not represent either an absolute or relative peak.
The paper argued that China has achieved significant progress in cutting-edge technologies despite U.S. repression, refuting the claim that U.S. export restrictions on technology would stifle China’s economic development.
The paper said that the effects of suppressing science and technology would be detrimental to both sides and bring about unimaginable disasters for both China and the U.S. It also added that a total decoupling of technology between the two nations was impossible.
By 2030, according to Chongyang researchers, China’s economy will have surpassed that of the United States. The four engines of urban expansion, structural improvement, technological innovation, and greater reform and opening-up will propel China’s economy into a period of medium to high growth, outpacing both the world average and the U.S. economy.