China Becoming Economically Stronger Than the USA But Not the US and Allies

Nextbigfuture found cost of living data indicating that China’s purchasing power parity economy is about $31 trillion. This is 30% larger than official estimates and is 50% larger than the $21 trillion US economy. In a decade or two China’s currency will strengthen to a value that matches its purchasing power level. Japan reached per …

Read more

Moltex Nuclear Would Work in a World With Abundant Solar Energy

Moltex Energy calculated that abundant solar and wind energy will mean nuclear energy needs low capital and fixed operating costs to be profitable at 30-50% capacity factor in unsubsidized competition with fossil fuels. Radical innovation will slash costs of nuclear energy. SSR (Stable Salt Reactor) will meet the cost objective, comfortably, through intrinsic safety and …

Read more

Future Oil Price War as Iran Sanctions Get Lifted

Economic sanctions have cut Iran’s oil production in half and dropped oil exports to less than 20% of normal. Iran’s oil production is currently below 2 million barrels per day and Iran has about 300,000 barrels per day of oil exports. source: tradingeconomics.com Biden is expected to lift sanctions if Iran returns to strict compliance …

Read more

Low Risk Progress to Commercial Next Generation Nuclear Reactor by 2030

The Terrestrial Energy Molten Salt reactor development avoids all risk in technology, science and regulation to build the commercial molten salt reactor by 2030. They have the first stage of regulatory approval in Canada and are working closely with Canada nuclear regulators, US nuclear regulators, Energy Utilities and US National Labs. Nextbigfuture has been covering …

Read more

Arab League Morocco Will Have Peace Deal With Israel

Morocco joins Bahrain, Sudan and the United Arab Emirates in joining peace deals and economic normalization with Israel. Morocco has a population of over 37 million people and is a member of the Arab League. The Arab League has 22 member states. It was founded in Cairo in March 1945 with six members. Oman, Comoros, …

Read more

China’s Newest Plan Targets Moderate Developed Nation Income Level by 2035

China’s newest five year plan has a target of reaching moderate developed nation per capita income levels by 2035. Spain has a per capita income level of $26,000 now and Italy has a per capita income level of $30,000. Those countries have GDP growth rates of about 1-2% per year. If China were to catch …

Read more

COVID Helps China’s Economy Pass EU in 2021 and 2025-2030 for the USA

The double whammy for the European Union GDP is Brexit and COVID. In 2019, the EU had a combined GDP of $18.3 trillion. The UK leaving removes $2.5 trillion. COVID removed another 10-12% in 2020. The Jan, 2021 GDP will be after Brexit is official and enacted on Dec 31, 2020. $15.8 trillion after the …

Read more

US 2020 GDP Could be -2% With Possible Pandemic Economic Recovery By End of 2021

The Philadelphia Federal Reserve published results of a survey of 35 economic forecasters on August 14, 2020. They predicted the US economy would expand at an annual rate of 19.1 percent in the third quarter. This was almost double the prediction of 10.6 percent from the last survey. The forecasters expected real GDP to decrease …

Read more

Bahrain Joins UAE in Normalizing Relations With Israel

Bahrain has joined the United Arab Emirates in normalizing relations with Israel, President Donald Trump tweeted on Friday. Joint Statement of the United States, the Kingdom of Bahrain, and the State of Israel pic.twitter.com/xMquRkGtpM — Donald J. Trump (@realDonaldTrump) September 11, 2020 Bahrain has a population of 1.6 million and a GDP of $39 billion. …

Read more