China will overtake US as global superpower: UBS Survey
President Trump’s whole political stance since 2016 has stood upon “making America great again”. However, a new survey by UBS suggests otherwise – the US would soon be permanently dethroned by China.
The survey included investors across the globe, 57% of whom believed that China will become the biggest superpower by 2030. Only Americans begged to differ, with only 47% of US investors thinking this would be the case. Still, this idea has not only found great validation from the majority of investors but was also the primary objective of Chinese President Xi Jinping. Jinping had announced in 2017 his vision of converting China into “a great socialist state” by 2050. The UBS survey was just one among many which have prophesied the eastern giant becoming the biggest superpower before the first half of the 21st century is over.
However, the Chinese economy has been slowing, witnessing its slowest growth rate of almost three decades in 2019. On top of that, President Jinping is reported to have developed policies for the economic growth of struggling provinces. This could be the reason behind Trump’s confidence of retaining the global superpower position.
At the World Economic Forum held at Davos recently, Trump greeted China as an ally, not an enemy. A trade deal between the two economic giants is actually better for the world economy – as the UBS survey showed. 60% of the respondents were optimistic about the global economy, the number being the highest among Americans (68%). Trade experts admitted that the threats that loomed last year on trade don’t seem so apparent now.