What is the new target of the Fifth Plenary Session of the 19th Central Committee, “GDP per capita reaching the level of the middle developed countries”?

In 2004, America’s GDP was $12.2 trillion and its per capita GDP was $42,000.

In 2019, 15 years later, GDP will grow to $214,000 and GDP per capita to $65,000.

Over the past 15 years, GDP has grown by 75 per cent and per capita by 54.8 per cent.

The United States is the world’s largest developed country, with steady and sustained growth.

What about China? Compared with this, China is growing more rapidly, with better sustainability and stability. Economic growth, which reflects a country’s economic stress resistance, resilience, system, population, industry, science and technology and other comprehensive strength.

Its bottom logic – the fastest growing and most stable market is the market with the highest global capital attraction and the most efficient capital proliferation market.

In 2004, China’s per capita GDP was RMB12,000, and in 2019, China’s PER capita GDP was RMB71,000.

In these 15 years, China’s GDP per capita has grown by an average of 12% a year! (Without removing the price factor) because the inflation rate must be added to the absolute value of the currency.

In these 15 years, China’s GDP per capita has grown by 591%! That’s 5.91 times!

The United States is the world’s largest developed country, China is the world’s largest developing country… What about the other major developed countries in the world?

Let’s look at Germany. Gdp in 2004 was $2.8 trillion in the United States, or $35,000 per capita.

The euro’s 15-year economic growth rate has been volatile against the dollar.

In 2019, Germany’s GDP was $3.8 trillion, or $46,000 per capita.

Over the past 15 years, GDP has grown by only 35.7 per cent in dollar terms and by 31.4 per cent per capita.

We take into account the exchange rate of the euro. In 2004, the dollar was exchanged at 0.7964 euros, and in 2019 it was able to be exchanged at 0.8933 euros.

In that calculation, Germany’s GDP grew by about 52% in euros terms and by 47.4% per capita.

Germany is the largest developed country in Europe and one of the fastest growing economies in Europe. The German economy hasn’t keeping up with the U.S., so what about the rest of Europe?

Let’s find another one and use Italy as a reference.

Don’t laugh at Italy’s 15-year GDP growth of 11.1% in dollar terms! Its GDP per capita has grown by 6.5% in 15 years!

15 years! That’s up only 6.5 percent.

You can laugh now!

Well, in euros, Italy has grown by 24.5 per cent in 15 years and by 19.5 per cent per capita.

If Italy is the highest standard in the middle developed world in 15 years’ time, there should be no doubt about it? For nearly 100 years, Italy has existed as a second-class developed country.

In 2019, Italy’s GDP per capita is $33,000, and 15 years later, 3.3×106.5 percent is $35,000.

So we can come up with a less convincing standard: 15 years from now, our GDP per capita will reach Italy’s level in the context of dollar hegemony, 3.5 times what it is today. That’s $35,000.

There are, of course, other possibilities, namely the collapse of the dollar’s global system, replaced by an in-currency cycle between regional markets.

Well, maybe people think it’s a hard number to reach.

Let’s take another look.

The U.S. GDP per capita exceeded $10,000 in 1978, Japan in 1981, Britain and France in 1980 and 1979, and South Korea in 1999.

America’s GDP per capita exceeds 35,000, 21 years in 1999.

Japan’s GDP per capita exceeds 35,000, which was in 1993 and took 12 years.

For the first time, South Korea’s GDP per capita exceeded 30,000, 18 years longer than in 2017. South Korea’s GDP per capita will fall back in 2019 as China’s catch-up.

More than $35,000 per capita, 24 years in Britain and 27 years in France. Since East-West Germany merged in 1991, it will not be discussed for the time being.

Oh yes, remember Italy? Italy also took only 21 years.

That is, in the entire Western capitalist system, basically a country’s GDP per capita exceeds $10,000, and then grows by 3.5 times, in about 20 years, the United States faster than Europe, and Asia faster than the United States.

Why is that? People, system?

We try to think from the bottom logic, the bottom logic is Marx once pointed out that capital is ultimately to achieve the free flow of the world!

The logic of the free flow of capital around the world, then, is to find the market with the most efficiency, the greatest returns, stability and certainty.

Where is this market?

Now we turn the globe and give a country’s name according to past data!

The process of capital flows, not to the will of the people for the transfer, may be short-term fluctuations, but in the long term, will certainly give a definite answer!

The Matthew effect, which has never failed on Earth, even on a cosmic scale, is also consistent.

The U.S. has tried to isolate China from the dollar’s financial system, but unfortunately, if it does, the dollar system will collapse immediately. In the long run, attempts to block the free flow of capital globally by political means are bound to be futile.

Now that capital flows and trends are known, we ordinary people can only watch this happen, and there is nothing we can do to stop it.

At last.

Even if capital creates great wealth in China, it will only become more concentrated. In the future, the vast majority of people will not be able to get the expected benefits from China’s economic growth!