It is without a doubt that the world would be a very different place without China. Let’s start at the micro-level. Consider looking into your ordinary day, for starters. Your desk lamp, the television, your Nike shoes, the kitchen appliances, smartphones or any other everyday item your world revolves around- all made or assembled in China. A manufacturer of 90% of our laptops, a refiner of close to 80% of the planet’s rarest metals, ruler of the virtual banking industry and home to about one-fourth of Fortune 500 companies–
We’re running at what China is feeding us and this realisation makes it way too hard to imagine a world without China. And if we press too hard to imagine that China’s economy comes crashing down with its growth rate succumbed to low single digits, it would not be too hard to supplement the imagination with the sufferings of the already-shaky world economy.
A World Health Organisation (WHO) report from 2016 expressed that the Chinese economy accounts for about 17.2 per cent of the world’s Gross Domestic Product (GDP) as measured on a purchasing power parity basis, which has only grown since. This statistic is sufficient in itself to portray the dwarfing result in the absence of China.
Wait before you realise China’s impact on global consumption– with the country’s consumers spending about USD 6 trillion per year, as from data of 2020. Over 35% of the global luxury goods spend comes from China. China is the European Union’s third-largest export market, consuming nearly USD 220 billions of European Union goods each year. It is also the United Kingdom’s fifth-largest export market with consumption standing close to USD 30 billion.
Being home to over 400 Electric vehicle companies and leading consumer and manufacturer of the solar power industry, China stands out as the epitome of what needs to be the future of the world. It is the largest user of wind power and controls the manufacturing of about 80 per cent of the raw materials needed in Electric Vehicle battery production.😱😱😱
THIS IS THE PRESENCE OF CHINA ON THE GLOBE
THE DECISION IS OUR"S😇😇
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