China’s rise endures; US on the brink of collapse

THE world did not have to wait long to see the positive results of China’s fast paced lifting of its Covid 19 lockdown that started January 2023. By early March it was already clear that the virility of the pandemic virus has so weakened that it is now no different from the ordinary flu in terms of impact to health.

China’s scientific assessment has again to be proven correct and the U.S. grossly red-faced now after predicting the worse of China’s Covid easing.

The U.S. mainstream media predicted the worse for China’s economy at the start of the year, but now even the IMF (International Monetary Fund) projects China’s economic rebound at 5.2 percent this year while others go for as high as 6 percent; prognosis for the U.S. is nil.

In IMF’s own words US “real GDP growth comes to a halt in 2023 and then rebound, averaging 2.4 percent from 2024 to 2027.”

It is a very weak attempt to hide the dire news, but the worse forecast is a US recession instead in late 2023.

As we are writing this piece the talk of the past days is the second largest bank collapse in the U.S. since 2008 with the tanking of the SVP, Silicon Valley Bank, and this was followed a few days later by the collapse of the Signature and Silvergate banks.

The US banking sector is now on the edge of panic fearing a sudden contagion as depositors all over the US rush to their banks and withdraw their savings. In other words, a potential ‘bank run.’

China’s economic and financial outlook are clearly infinitely better than the worse picture detractors such as the US have painted, while the government of the People’s Republic of China has reinforced the world’s confidence in its ability to deliver its promise of a better path for mankind with its recent real-world successes in strengthening world peace and stability – starting with the triumphant reconciliation of Saudi Arabia and Iran mediated by China.

That success shook and shocked the world positively, amazed that such a miracle is still possible in a world that has lived for over half-a-century with this volatile conflict between Saudi Arabia and Iran sporadically erupting in terrorism and violence such as the proxy war in Yemen – a war which now sees the hope of ending and the suffering of hundreds of thousands of Yemenis coming to an end soon. China is now accepted as a miracle worker for peace and reconciliation.

China’s peace initiative for the Ukraine-Russia conflict was welcomed by Ukraine and Russia as a good start, and by the UN spokesman as “an important contribution,” but the proxy master stonewalls it still preferring to see its proxy suffer and face the last ultimate options – obliteration or complete surrender to the terms of the superior force.

China continues to do its good works to restore sanity and good will in the world but the US seeks to perpetually nullify it.

The glowing achievements of China are standing out at just the moment that the Communist Party of China is holding its annual Two Sessions, one a conference of the Chinese People’s Political Consultative Conference (CPPCC) or the peak united front forum bringing together CPC officials, political and social representatives to extend advice and proposals and the other the National People’s Congress to assess the challenges of the times and set forth the actions to achieve goals for the future.

With the reinvigorated optimism and confidence from the successes of the past years of fighting maintaining economic growth through the most difficult pandemic years, the triumphs of the past decades over U.S. trade wars and sanctions, diplomatic harassment and geopolitical provocations, and recent diplomatic coups, China held its Two Sessions with a stronger message of unity, consolidation, further opening up, and exercise of beneficent leadership for the world.

President Xi Jinping laid out the principles that is fundamental in importance to the world – the Global Security Initiative and the Global Development Initiative to ensure stability and peace, as well as global progress and prosperity reiterating the goal of creating a “Community of Shared Future for Mankind.”

The new Premier, Li Qiang laid out the economic, social, technological roadmap to continuing domestic growth for the Chinese people, while affirming the further opening up of China to the world.

The Philippines should welcome the continuing peaceful rise of China as it will ensure the rise of Asia and the ASEAN region, uplift the Philippines along with it and create a new era of “Forever Peace” within which we in this country can lift the poorest of the poor to a good life, and energize the nation into middle income nationhood and prosperity a decade from now.

The destiny of man is progress, and that is being on the right side of history.