With its socialist central planning, China easily escapes the periodic crises that afflict the capitalist West
January 12th, 2022
2021 was the best year. Ever.
The robust growth of the domestic market also further stabilises the economy.
Amidst global gloom, 2021 was the best year in modern Chinese history. Here's what they accomplished:
- Eliminated extreme poverty.
- Reached 98% home ownership.
- Kept Covid death rate at 0.6% of America's.
- Grew the economy $2 trillion PPP, the fastest growth ever.
- Became the richest country on earth.
- Became the world's biggest overseas investor.
- Became the world's largest movie market.
- Produced one new billionaire and 300 millionaires every workday.
- Completed new train lines in seven countries, including Laos' first.
- Ran 15,000 cargo trains to and from Europe, up 30% YoY.
- Joined RCEP trade pact, with 30% of global GDP and of the world's population.
- Sold $140 billion retail online in 24 hours (Amazon's record is $5 billion).
- Launched the first central bank digital currency.
- Dominated scientific research and issued the most patents of any country.
- Built three exascale computers that won the Gordon Bell prize for high performance computing.
- Built a programmable quantum computer 10,000x faster than Google's Sycamore.
- Operated the first integrated, 3,000-mile, commercial, quantum communications network.
- Brought online two gas-cooled Pebble Bed nuclear power plants.
- Fired up two thorium-fueled reactors, eliminating uranium from power generation.
- Released a Covid treatment that reduces hospitalizations and deaths 78%.
- Made 55% of global energy savings.
- Generated 1 terawatt of renewable energy.
- Installed one-million 5G base stations, giving Tibet better 5G service than New York.
- Communicated between satellites via lasers, 1,000x faster than radio waves.
- Operated the world's most powerful solid rocket engine, with 500 tonnes thrust.
- Flew three hypersonic missiles around the planet.
- Released a fractional orbital bombardment missile from another missile at 17,000 mph.
- Simultaneously commissioned three warships, becoming the world's biggest navy.
Expect China to maintain this pace through 2022 by launching, among other things, the first, greenfield, automated, 21st century city for six million knowledge workers. With 70% woods and lakes, the loudest sound will be birdsongs.
First published on Greanville Post.
Godfree Roberts, Ed.D. Education & Geopolitics, University of Massachusetts, Amherst (1973), currently residing in Chiang Mai, Thailand is the author of Why China Leads the World: Talent at the Top, Data in the Middle, Democracy at the Bottom (2021). His expertise covers many areas, from history, politics and economics of Asian countries, chiefly China, to questions relating to technology and even retirement in Thailand, a topic of special interests for many would-be Western expats interested in relocating to places where a modest income can still assure a decent standard of living and medical care. Read other articles by Godfree.