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World Economy in the 2020s

The future Economy 2020s

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16 replies to this topic

#1
Zachemc2

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United States
The United States dominated the world economy during the 2020s. The technology sector expanded greatly during this period. Apple becomes the largest corporation, surpassing Walmart in 2026. The US government ran surpluses all 10 years, as the 28th Amendment (2017) says it must. GDP of the United States more than doubled during the 2020s, from $22.6 trillion in 2020 to $51.8 trillion in 2030. This is mainly due to the implementation to more republican economic policies. The government posts two $1 trillion+ surpluses - in 2028 and 2030. The tax burden plummeted during the 2020s, from 17.8% in 2020 to 9.3% in 2030. Per capita GDP also doubled, from $66,000 in 2020 to $136,000 in 2030. Historians view this decade as one of five best for the United States along with the 2140s, 2070s, 1890s, and 1980s. In the absence of the People's Republic of China, this was the first whole decade in which the United States was the world's sole superpower since the 2000s.

India
India was one of the emerging powers during the 2020s. It had become a power by the middle of the decade. Like the United States, India decided to implement republican economic policies in order to stimulate its economy. This lead to a much better quality of life for the impoverished population. In 2022, India surpassed the People's Republic of China to become the world's second largest economy. India's GDP nearly tripled from $10.5 trillion in 2020 to $28.1 trillion in 2030.

Brazil
The 2020s was also a good decade for Brazil. It implemented the same policies that the US and India did. During the 2020s, Brazil became a developed country. Brazil's GDP more than doubled in the 2020s, from $3.8 trillion in 2020 to $7.9 trillion in 2030. The GDP per capita of Brazil doubled from $17,000 in 2020 to $37,000 in 2030.

European Union
The European Union faced stagnation during the early part of the 2020s. This caused pressure from the US, India, and other countries to abolish some of their social programs. Many countries in the EU did so. By mid-decade, the EU was having somewhat-sustainable growth, however still falling behind the worldwide economic boom. The GDP of the EU increased slightly from $19.3 trillion in 2020 to $33.8 trillion in 2030. Unlike other economies, the growth in EU's GDP is mainly due to inflation.

People's Republic of China
The PRC's economy collapsed in 2016, when its property bubble bursted. The collapse continues in the 2020s, as it was in recession the whole decade. So far, the government has done nothing to reverse this. 800 million people riot and protest in the streets. The PRC is in total chaos. In 2022, it was surpassed by India to be the world's second largest economy.

#2
Innsertnamehere

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Because you know, people will riot for over a decade and nothing will happen.

#3
Zeitgeist123

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abolising some social programs in EU sounds like bad news for the whole world.

“Philosophy is a pretty toy if one indulges in it with moderation at the right time of life. But if one pursues it further than one should, it is absolute ruin." - Callicles to Socrates


#4
Unrequited Lust

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Zach, you may want to google "Gilded Age."

#5
Wesfky

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People's Republic of China
The PRC's economy collapsed in 2016, when its property bubble bursted. The collapse continues in the 2020s, as it was in recession the whole decade. So far, the government has done nothing to reverse this. 800 million people riot and protest in the streets. The PRC is in total chaos. In 2022, it was surpassed by India to be the world's second largest economy.


So basically the Chinese Government was like, "Hey you want capitalism? Ok we wont help you with the inevitable negative characteristics of it though; like debt, recessions, housing bubbles, etc."

And after a decade of nearly a billion people rioting in the streets, communism was reinstated.

#6
Unrequited Lust

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People's Republic of China
The PRC's economy collapsed in 2016, when its property bubble bursted. The collapse continues in the 2020s, as it was in recession the whole decade. So far, the government has done nothing to reverse this. 800 million people riot and protest in the streets. The PRC is in total chaos. In 2022, it was surpassed by India to be the world's second largest economy.


So basically the Chinese Government was like, "Hey you want capitalism? Ok we wont help you with the inevitable negative characteristics of it though; like debt, recessions, housing bubbles, etc."

And after a decade of nearly a billion people rioting in the streets, communism was reinstated.

The Chinese government adopted capitalistic policies precisely because communism was such a spectacular failure. Under Mao's policies, 100 million Chinese people died, mostly of starvation. (see the Great Leap forward)

Since adopting capitalistic policies after Mao's death, China's GDP has exploded and it now rivals America's. Unlike a lot of people on this forum, I think it will surpass it.

Recessions could very well the result of capitalistic policies (one of those economic grey areas), but debt and bubbles surely are not. Debt is caused by the government spending more than it takes in. The capitalist solution is to decrease the role of government in the economy. A balanced budget amendment would cease all deficits. And I don't think anyone would argue that that isn't "capitalistic" (it's certainly right wing). Bubbles cannot exist without a central bank. Unelected banking monopolies aren't capitalism. The Fed caused the recession by promising credit to Fannie and Freddie, and before Prolite jumps on my nuts, no, this wouldn't have happened with the Glass-Steagall Act.

No one takes communism seriously anymore, mostly because of how it has historically always led to totalitarianism and economic ruin. Be like the good progressives on this forum and believe in social democracy.
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#7
Wesfky

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The Chinese government adopted communist policies precisely because capitalism was such a spectacular failure. Under the capitalist policies, 800 million Chinese people protested a fundamental characteristic of capitalism, they rioted for a decade straight destroying if not all of the infrastructure of the old capitalist era. (see Zacgemc2's predictions on the world economy in the 2020s)

#8
Zachemc2

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The Chinese government adopted communist policies precisely because capitalism was such a spectacular failure. Under the capitalist policies, 800 million Chinese people protested a fundamental characteristic of capitalism, they rioted for a decade straight destroying if not all of the infrastructure of the old capitalist era. (see Zacgemc2's predictions on the world economy in the 2020s)

They rioted because their undervalued currency screwed them over.

#9
Wesfky

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They rioted because capitalism screwed them over.



#10
Zachemc2

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They rioted because capitalism screwed them over.

I never said that. Don't change my quotes.


They rioted because their undervalued currency screwed them over.



#11
Nick1984

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They rioted because capitalism screwed them over.


And communism was a right fucking success in China wasn't it!

#12
Unrequited Lust

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They rioted because capitalism screwed them over.


And communism was a right fucking success in China wasn't it!

There has never been any economic system as disastrous as communism and never any economic system as prosperous as capitalism. Wesfky's denial of this is simply ahistorical.
  • Roh234, Zachemc2 and Deadbolt like this

#13
Deadbolt

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Capitalism is generally considered to be the concept of free exchange and acquisition of wealth for private ownership. This is pretty much the default of humanity, since we will always strive to defend and claim ownership, and we will always wish to trade freely. Capitalism is not some invention of a state. It's not really a system, but a natural will. The "Western World" (+Japan and others from the East), run on a Corporate system, in which Capitalism is restricted and managed bureaucratically, and Corporations are held special rights which they wouldn't have without the force of a nation. Profits are privatized (largely, although there are taxes), but losses are socialized (bailouts/other). If this is screwing us over, then Communism (more properly - Socialist Authoritarianism) is clearly even worse, since it posits even more centralization for the "greater good". To the extremes of this, not only are losses socialized, but so are the profits! No one person owns anything, only "the people", but really we know that this is just a cadre of elites... History has shown Communism to be an utter failure. The central planning of elites cannot keep up with ground conditions, which must progress from individual transactions en masse to create the whole picture, meaning that their managing is exactly not, and only serves to distort conditions uncontrollably away from the compound will.
  • Zachemc2 likes this
NO!

#14
Zeitgeist123

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The solution is quite easy, bankers and Wall streeters should be regulated, that would solve a lot problems the whole world is experiencing right now. Unfortunately, big businesses have politicians by the balls thats why a simple solution or bill like these often fall to the sidetracks...

“Philosophy is a pretty toy if one indulges in it with moderation at the right time of life. But if one pursues it further than one should, it is absolute ruin." - Callicles to Socrates


#15
Roh234

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Preventing political campaign donations from entity or individual should do the trick.
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What is true, just, and beautiful is not determined by popular vote. The masses everywhere are ignorant, short-sighted, motivated by envy, and easy to fool. Democratic politicians must appeal to these masses in order to be elected. Whoever is the best demagogue will win. Almost by necessity, then, democracy will lead to the perversion of truth, justice and beauty. -Hans Hermann Hoppe


#16
Prolite

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Agreed.
I'm a business man, that's all you need to know about me.

#17
Snazster

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Since adopting capitalistic policies after Mao's death, China's GDP has exploded and it now rivals America's.


5.8 does not rival 14.6. It's a LONG way from #2 to #1. They might get there though, but there are an awesome number of reasons why they might not.





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