CNBC: Elon Musk says Chinese economy will surpass US by 2 or 3 times: ‘The foundation of war is economics’
* Elon Musk predicted that the Chinese economy will surpass the United States’ at least two-fold.
* The two nations already are the world’s two largest economies, although the U.S. economy is currently larger.
* China overtaking the American economy would likely cause increased tension between the two countries, which are already at odds on issues such as trade and 5G technology.
ORLANDO, Fla. — Tesla and SpaceX CEO Elon Musk predicted Friday that the Chinese economy will eventually surpass the United States’ by at least two-fold – which would up the ante between the nations’ massive militaries.
“A thing that will feel pretty strange is that the Chinese economy is probably going to be at least twice as big as the United States’ economy, maybe three times,” Musk said during a fireside chat with U.S. Air Force Lt. Gen. John Thompson at the Air Warfare Symposium in Orlando, Florida.
“The foundation of war is economics,” Musk said. “If you have half the resources of the counterparty then you better be real innovative, if you’re not innovative, you’re going to lose.”
The two nations already are the world’s two largest economies. The U.S. dominates with $21.44 trillion in nominal GDP and makes up one-fourth of the world economy. China, however, is the fastest-growing trillion-dollar economy with GDP of $14.14 trillion, according to the Nasdaq.
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WNU Editor: I know my Chinese contacts believe that their economy will be surpassing the U.S. economy by 2030. But 2 or 3 times larger .... that is going to take a few decades.
