The USA -China Rivalry

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Naseebullah Khan
Militarily, both countries are equipped with most dangerous and sophisticated weapons as both sepb billions of dollars on it. In both countries, war industries have been flouroshing which have been one of the major contributors of their economies.As per Armed sales, the US is on number 1 while China is on 5th number. The Chinese defense budget in 2021 was 35 trillion Yuan while America spent 705 billion USD during the same years. At current, the USA has more than 800 bases in 85 countries across the world while China has only 3. The ecnomic rivalary between voth states have been speaking volume. At present, Chinese foreign exchange reserves in 2021 were 3,373,159 million dollar While the US foreign exchange reserves stood at 244,420 million dollar. According to World Factbook, China is ahead of the US in Agriculture and Industry sector. Agriculture Output of United States is only 17.58% of China and 77.58% for the Industry sector. The services sector of the US is more than double of China. America and China are the two largest economies throughout the world in both Nominal and PPP terms. America is leading in nominal, whereas China is leading in PPP since 2017 after overtaking the US. As of 2021, both countries together share 41.89% of global GDP in nominal and 34.75% of the PPP terms, respectively. As per projections by IMF for 2021, United States is leading by $6,033 bn or 1.36 times on an exchange rate basis. The economy of China is Int. $3,982 billion or 1.18x of the US on purchasing power parity basis. According to estimates by World Bank, China’s gdp was approx 11% of the US in 1960, but in 2019 it is 67%.Moreover both countries are one of the biggest oil producing countries. When we oberve human development indexes of both states, the data shpws that the US HDI is 0.926 positioning it at17 out of 189 countries while Chinese HDI is 0.761 positioning it at 85 out of 189 countries. On the other side, per capita income in America is 5.78 percent that is higher then China due to population gap.On education China spent 3.76 trillian Yuan in 2021 while the USA spent 274.7 billion USD during the same year. At current, the US spent 54.6 billion USD in 2021 while Chinese space bugdet was 10.29 billion USD on space technologies.At the same time on health sector in 2020 America spent 287 while in 2021 it spent 170 billion USD on respectively. In addition, It has plan to spend 20 percent of its budget on health by 2028. Whereas China spent 1.92 trillion Yuan in 2021. In America the poverty in 2021 rose to a high of 14.3% in February and declined to 9.3% whilst in China it was 49 percent in 2020 and in 2021 poverty rate was zero. In the sphere of foreign policy, it is said that there is no permanent friends and foes. Both China and America have huge influence on world politics. Both have global partners and have edtablished alliences to counter each other. America has deep strategic and economic ties with the EU. It established the Quad amd BW3 allience to encounter China. At the same time, China is also expending its source of influnce through initiating the mighty BRI project (A project of projects). Whereas at the same times, China has been making friendly ties with Europe, India, Russia and Arab world. The tail piece is that the present global politics has changed from bipolar to unipolar sphere. The objective of both countries isnto increase it sphere of influence and expand their ecnomic penetration. While, the thirld world countries are vulnerable to their policies.

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