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Perceptions of Power: China’s Future Uncertain
China's potential as a superpower may be overestimated, with its economy showing signs of slower growth between 3% to 4%, a stark contrast to its previous double-digit rates. Although it remains a significant economic force, its GDP is 25% smaller than that of the U.S., indicating challenges in achieving nominal parity. Future growth is uncertain, especially with demographic issues worsening as they approach 2030, alongside severe mismanagement in economic sectors. The real estate market constitutes a staggering 30% of China's GDP compared to only 10% during the U.S. real estate bubble of 2008, highlighting risks stemming from an enormous bubble and poorly managed banking sector.