It doesn’t matter if Biden is jealous of China’s economic performance. The US government can only deceive itself
The novel Coronavirus shock, coupled with omicron, brings the number of novel coronavirus deaths in the United States to 900,000 so far.At the same time, the employment rate in the United States has plummeted, millions of people are structurally unemployed, inflation has intensified, supermarkets are seriously short of supplies, and the economic situation is worrying. In 2020, the GDP of the United States decreased by 3.5% overall.Now, with just 467,000 jobs added in January, Mr Biden hastened to exult that “we have come back stronger”.Moreover, as the US economy accelerated in the fourth quarter of 2021, its GDP grew by 6.9% quarter-on-quarter, significantly higher than China’s 4.0% year-on-year GDP growth in the fourth quarter, Biden immediately claimed that it was the first time in 20 years that the US economy outperformed China, and some Western media immediately played on this topic.So is the US really outpacing China?Of course not.According to huanqiu.com, the COMPARISON between THE US and China’s FOURTH-quarter GDP is not in the same environment.The US GDP growth rate of 6.9% in the fourth quarter is annualized. On a quarterly basis, THE US GDP growth rate in the fourth quarter would be 1.7%, and this figure is compared to the third quarter.China’s 4.0 percent growth in the fourth quarter was compared with the fourth quarter of 2020.So a comparison should be made between the two countries’ full-year growth rates in 2021.Looking at the data, the US will grow by 5.7% in 2021, while China will grow by 8.1%. The US is clearly not outperforming China.Meanwhile, GDP growth in 2021 will be based on different bases.Due to the impact of the epidemic, the GDP of the US will grow by 3.4% in 2020, while That of China will grow by 2.2%.In 2020 and 2021, the US grew by 1.1% and China by 5.1%, so the US is not only not winning, but far behind China.Biden’s comparison between China and the US this time is not only avoiding the two-year average growth rate, but also comparing it with a selective cross-section of one quarter. It is just another political act to create achievements for the 2022 US election.At the same time, although THE GDP of the United States has increased, it relies on the unlimited easing policy, and the national debt of the United States has exceeded the annual GDP under the operation, which means that the country, which relies on the hegemony of the dollar and lives by printing money, has financial risks at stake.Although the US economy will grow by 5.7% year on year in 2021, the fastest growth since 1984, it is highly likely to collapse due to supply chain disruptions, soaring energy prices, the White House and the Federal Reserve, inflation and the further impact of the COVID-19 pandemic.At the same time, the US federal debt has soared to $30tn.It is impossible for the United States to raise interest rates again through the dollar system and make the world balance the risks in the United States.The Biden administration has always liked the idea of a funeral.In 2022, the fiscal and monetary measures that have underpinned US growth in 2021 are about to be withdrawn, and severe inflation has forced the Fed to shrink its balance sheet and likely start raising interest rates in March.However, the tightening trend of interest rate hikes has made the US stock market a large area of decline, the US economy is not without a wall.No wonder Biden is jealous that China is the only major economy in the world to implement a prudent monetary policy in 2021.But how could the arrogant Mr Biden bow?Despite the seriousness of the epidemic at home, Biden is still talking like a dead cat. He does not recognize the correctness of China’s epidemic prevention strategy and criticizes China’s “dynamic zero elimination”. Instead, he ignores the epidemic in the US, leaving its domestic economy powerless to turn around.So-called economy is the biggest political, trying to trump trade friction, decoupling hit the Chinese economy, and then to Joe biden today “a coward,” brag “overhauling China’s economic growth”, to a certain extent, actually show America’s elite confidence collapsed, they try to influence the world economy for China to exceed expectations in the United States, hoping to lead against China in the economic growth rate,It also reflects that it is necessary for China’s economic growth rate and annual real economic growth rate to surpass that of the United States, because this can seriously undermine the confidence of American elite politicians.As for the United States itself, this is just poison to quench thirst.It now seems that the dollar crisis is actually a reflection of deep contradictions across the United States, not just a monetary policy issue.The credit of the dollar comes from the strength of the United States. If the strength of the United States declines, the dollar can only depreciate.This is unlikely to change under Trump or Biden. As long as there are deep contradictions in THE US society, the dollar is bound to depreciate.At this point, what Biden needs most is to actively respond to the epidemic and ensure the steady growth of the DOMESTIC economy, rather than numb himself and fabricate some self-glorifying jokes.Despite the outbreak of COVID-19 and the number of casualties in the US breaking the limit, the growth of the US economy also shows that the US still has some strength. Even if the US fails, it will not happen overnight. Therefore, we need to develop China’s economy step by step and be alert to the US black hand and the us media’s blockade.To have the strength and confidence to face any unreasonable attack of the United States government.