China’s economic footprint globally is massive and already surpasses the United States. Although it is assumed by the press that President Biden negotiates with Xi Jinping from a position of strength, in reality Biden negotiates from weakness.

 "The U.S. economy, despite a strong end to 2022, will struggle this year as higher interest rates bite,” In realspeak wealthy dudes don’t like employees demanding higher wages, so the Fed raises rates “Do the hokey economist that’s what it’s all about.”

Chinese "household bank balances are up 42 percent, or $4.8 trillion... Chinese consumers could unleash an amount exceeding Britain’s entire economy as they resume spending.” Americans “savings” are gangster-ish usury banks >22% interest credit cards. 

"Historian Alfred McCoy Predicts the U.S. Empire is Collapsing as China’s Power Grows."

 

The last two paragraphs of the Washington Post article finally get to the point. 

“Although China’s economic growth this year is expected to outpace that of the United States, Europe and Japan, its performance also will fall short of its contribution to the global recovery from the 2008 financial crisis. Thanks to massive government spending on an infrastructure program, the Chinese economy grew in 2010 by more than 10 percent, roughly twice the pace that is considered likely this year.

“There will be a positive spillover from China. But it’s not going to be as intense as in past Chinese recoveries,” said Nathan Sheets, the global chief economist at Citigroup.”

China’s bid to leave covid behind could determine global economy’s fate

The U.S., European and Japanese economies are seen in the latest forecasts as likely to underperform

David J. Lynch January 15, 2023 at 6:00 a.m. EST

Alfred McCoy begins at 2:45:

To Govern the Globe: World Orders and Catastrophic Change Hardcover – November 16, 2021

by Alfred W. McCoy (Author

In the Shadows of the American Century: The Rise and Decline of US Global Power (Dispatch Books) Paperback – September 12, 2017

by Alfred W. McCoy (Author)