Kenya has ZERO gold reserves. Our currency is backed up by faith.
Uhm, that’s the case everywhere smartass
all world currency are “Fiat” currencies including the US $, Sterling £, the € , Japanese ¥ etc
No time to google words and statements you just threw about…
All currencies are backed up by faith.
Gold reserves are for a different purpose.
You and your Chinese supporting friends have been farting here for several years now of how China and Russia are stockpiling gold so they can launch a new super currency backed by gold that can undermine the dollar… WHAT HAPPENED???
Where is this currency???
You fellows also said that Russia and China will defeat Boeing in passenger travel with their new jets the Aeroflot and the COMAC C919… it hasn’t happened! I’m still waiting.
You guys said that Boeing is finished! Dead!! After the recent crash in Ethiopia.
And that Russia and China will take over in passenger travel. It hasn’t happened.
You guys also said that Putin is developing a hypersonic missile that can travel in hypersonic speeds… why should that be believed if a guy can’t build a passenger jet?
“For several years”
Those 3 words explain your extent of understanding of world economics.
The dollar has been the world currency since Bretton Wood in 1944, and you think it can be overthrown in a matter of ‘several years’?
Everyone knows the American empire is approaching its end. But empires don’t fall overnight because of one single event.
You guys also said way back in 2017 that China will surpass the U.S economically and in every way feasible… it’s been 3 years surely and it still hasn’t happened.
CHINA GDP = 13.61 trillion USD
U.S GDP = 20.54 trillion USD
Wacha basi ningoje nione mkipita American empire. In the words of Ng’ang’a Kamau : Pwegegegegegege
In the words of Kabuda AKA finest wine : Kikikikikikikiki
Do you possess the intellectual capability to read graphs?
If I’m growing at 6% annually, and you are growing at 2% annually, can you comprehend what will happen after X number of years?
That X number of years has been pushed forward my fren.
In 2002 they said by 2006.
Kufika 2006 wakasema 2010/11 China will surpass U.S
Kufika 2010 wakasema 2014.
Juzi walisema 2023. :D:D:D:D:D:D
You’re just making sh#t up.
Every credible statistical projection is based on actual growth rate.
Hizo zako ni muguka talk.
Unless you didn’t comprehend what you heard.
The most commonly cited GDP figure is nominal.
Perhaps what you heard was GDP (PPP)
China already overtook the US on this one in 2014.
During Kibaki era Kenya was growing at 7%.
Going by your graph theory are you saying that if Kibaki had stayed on as President for another century Kenya would’ve realistically surpassed the U.S one day???
The curve would’ve straightened. Do you know to pass the U.S you have to pass Saudi Arabia , Singapore, South Korea, Japan , Canada, India, Qatar na wote wakuwe wamelalia maskio na hawasongi. Only God Himself can push you to such levels.
Every Kenyan would have to work 19 hours a day to move Kenya past Singapore. We would need to change drastically. To get to the U.S level , I don’t know.
China has reached their maximum. Their curve has levelled. Straightened.
For China to move further they would have to change their politics and allow new ideas OR they need to colonize other countries and harness their labour and resources.
I think they have chosen option B. Good luck with that choice.
Their growth rate is still 3 - 4 times higher than the US.
What curve are you talking about?
Correct. That’s a mathematical fact.
If you’re growing at 7% and another at 2%, you will overtake them after X number of years.
I don’t have the time to calculate X.
If your speed is 60km/h and I’m driving at 100km/h, after a period of time I’ll overtake you.
I believe that was around grade 5 math.
I posted this thread some time last year. China’s growth has dipped from 10% to 6.3% the lowest since the 90’s especially after the trade war. The curve has been going down for quite a while now due to a variety of factors.
For starters China manipulates her currency to maintain growth in exports. They devalue their currency by removing their dollars and stashing them outside China to weaken the renminbi. That is not something they can continue doing in the long term.
Economies don’t work like that. You have to factor in many many things. Japan used to grow by leaps and bounds then they levelled off. They actually crashed then leveled off.
The U.S also levelled off. China pia imefika kilele. Growth has been declining year on year due to many factors including factors like an ageing labour force.
This is something affecting Asian giants. You have ageing factory workers and young people who don’t want to have kids or work in factories like their parents and replace the old.
Furthermore once Chinese factories start paying better salaries , factory workers will educate their kids more so they never work in a factory.
You have Chinese kids going to Harvard from their parents factory work savings. These families usually leave the factory city and it slowly dies off from lack of labour. This has happened to all the super powers. You find cities like Detroit empty, the citizens moved on to other industries. No one wants to die from cancer working in a factory. Those factory jobs then went to sweatshops in China and India.
It usually starts with workers strikes and go slows as they demand better pay. Immediately the factory owner starts looking for another sweatshop.