Having defeated the former Soviet Union, the United States is facing a new rival for superpower status: China. Both the Soviet Union and China were communist nations, can the United States defeat China the same way it defeated the Soviet Union?
The United States defeated the Soviet Union with a more vibrant economy. The American GDP of $15 trillion is more than double the Chinese GDP of $7 trillion. But, the Chinese are catching up with a GDP growth rate that is about 7% higher. The American government’s tax revenue is higher than China’s by about 657 billion dollars. The economic edge goes to the United States.
American economic power remains supreme. It has developed a great culture to encourage entrepreneurial talent. Higher economic productivity is the fuel driving superpower status. As long as the United States continues to have higher economic output than China, it can succeed in continuing the world domination of Capitalism.