China’s taken six years to achieve 40 percent of a 20-year target of quadrupling per-capita GDP by 2020 with an increase to 16,084 yuan this year (2007).
The yuan rose to as much as 7.4834 versus the dollar from 7.4926 yesterday, heading for the biggest weekly gain in five weeks. It has climbed more than 10 percent versus the U.S. currency since the end of a fixed exchange rate in July 2005 and fallen 7 percent against the euro.
There’s debate in China on the merits of a stronger currency, which would ease trade tensions and the inflow of cash by making exports more expensive. A report circulated last week within the National Development and Reform Commission, the top planning agency, called for a 15 percent to 20 percent one-off revaluation
China’s economy, the biggest contributor to global growth, grew 11.5 percent in the third quarter, adding pressure for faster currency appreciation and higher borrowing costs to curb inflation and asset bubbles.
I have predicted that China’s will pass the USAs economy on an exchange rated basis in 2018 plus or minus 3 years.
My prior article with an earlier prediction of 2020 for China’s economy passing the USAs
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.