Tuesday, October 18, 2022

"20 Signs That America Is Being Economically Destroyed By China"

Full screen recommended.
"20 Signs That America Is Being 
Economically Destroyed By China"
by Epic Economist

"We have to face it: The Chinese economy is beating the living daylights out of the U.S. economy. Whether you want to call it a rout, a defeat, or a massacre, the reality is that China is completely embarrassing America on the global economic stage. While the eastern superpower continues to report extraordinary growth, even amid a global slowdown, things in the U.S. have already gone from bad to ugly, and now they're starting to go from ugly to catastrophic. It almost feels like the Chinese are playing economic chess while the Americans are playing economic checkers.

China is now set to overtake the United States and become the largest economy in the world by the end of this decade. Economists forecast that the Chinese economy can actually become three times larger than the U.S. economy by mid-century. That's a clear sign that the era of U.S. economic supremacy is coming to an end, and it seems like most Americans don't even know this is happening.

It all started when numerous corporations in America realized that they could make a lot more money if they shipped their production overseas. When that shift happened, the U.S. had such a strong and dominant position that it didn't really matter who was in second place. At the same time, when we started importing loads of products that were made in China, the American people were thrilled by the fact that prices were lower and they could buy more goods than they used to. Businesses loved it because profit margins increased and foreign nations also benefited because we were helping them develop their economies and get richer. At that time, everyone was making money and everyone was happy.

But then the trickle of jobs and factories leaving the country started to become a massive flood. Then it became an overwhelming deluge. The number of "middle-class jobs" in the U.S. started to drop by the thousands. Suddenly, Americans started to notice that the vast majority of jobs available were low-paying jobs. Even though the prices of the goods in the stores were still low, the average American family was getting increasingly squeezed so they were forced to take on more and more debt in order to maintain the same standard of living. That has kept fueling the growth of the consumer debt bubble over the years.

In other words, the American Dream was purchased with borrowed money, and that's why now we're up to our necks with consumer and government debt after sending unprecedented amounts of wealth over to China while they sent us massive piles of cheaply made products. This was supposed to be a good deal for both sides. But in the end, it turns out it was a pretty great deal for them and a terrible deal for us. For that reason, in today's list, we're going to expose the true proportions of the mess the world's wealthiest country has fallen into. Here are 20 Facts That Prove The Chinese Economy Is Beating The Living Daylights Out Of The US."

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