China Will Expand Its Global Power
Ever since 2014, China has officially become the largest economy worldwide – and it’s not going to stop anytime soon. Currently, the country’s economy is growing by 7% every year. Although it doesn’t seem like much, this rapid progress will definitely be felt by the U.S.
How it affects you: As the no. 1 economic power right now, every decision made by China will affect the American dollar value. Also, China has kept a fixed peg to the dollar for its currency, the yuan, which is desired to become a global currency. All of these efforts combined will slowly, but surely, destroy the U.S. economy because the intertwined impacts are unprecedented.
