China's Annus Mirabilis
2021 was one for the books
2022 will be a normal year for China. Unemployment will be 5.1% as usual. Wages will rise 7.2% YoY, the decadal average. GDP will grow $1.2 trillion, accelerating at 5.4% pa.
The EU and the US would demand a global, six-month standing ovation if either achieved such results. But, after an astonishing 2021, that’s sub-par for China:
Annus Mirabilis: China’s 2021
Here’s a brief list of China’s notable achievements in 2021
Eliminated extreme poverty.
Reached 98% home ownership.
Kept the Covid death rate at 0.6% of America’s.
Grew the economy by $2 trillion PPP, the fastest growth ever.
Became the richest country on earth.
Became the world’s biggest overseas investor.
Became the world’s largest movie market.
Produced one new billionaire and 300 millionaires every workday.
Completed new train lines in seven countries, including Laos’ first.
Ran 15,000 cargo trains to and from Europe, up 30% YoY.
Joined RCEP trade pact, with 30% of global GDP and 30% of the world’s population.
Sold $140 billion retail online in 24 hours (Amazon’s record is $5 billion).
Launched the first central bank digital currency.
Dominated scientific research and issued the most patents of any country.
Built three exascale computers to win the Gordon Bell prize.
Built a programmable quantum computer 10,000x faster than Google’s Sycamore.
Operated the first integrated, 3,000-mile, commercial, quantum communications network.
Brought online two gas-cooled Pebble Bed nuclear power plants.
Fired up two thorium-fueled reactors, eliminating uranium from power generation.
Released a Covid treatment that reduces hospitalizations and deaths 78%.
Made 55% of global energy savings.
Generated 1 terawatt of renewable energy.
Installed one-million 5G base stations, giving Tibet better 5G service than New York.
Communicated between satellites via lasers, 1,000x faster than radio waves.
Operated the world’s most powerful solid rocket engine, with 500 tonnes thrust.
Flew three hypersonic missiles around the planet.
Released a fractional orbital bombardment missile from another missile at 17,000 mph.
Simultaneously commissioned three warships, becoming the world’s biggest navy.