- Oct 9, 1999
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Move over Texas!
Even appetites!
In so many ways, China is the new America . . . fueled simply by the size of its market and the economic power behind that, it is becoming the economic gorilla of the world. We won WWII basically because of our industrial might, as "the arsenal of democracy."
I, for one, welcome our new Chinese overlords.
Now excuse me while I'm off to my Mandarin class.
Ant Financial, a Chinese financial services group founded by Alibaba’s Jack Ma, is big enough that Chinese authorities are putting new limits on what the company can do.
[...]
With $8.8 trillion in annual payment transaction volume, it’s bigger than Mastercard ($5.2 trillion), with 620 million online payment active users it’s bigger than PayPal (244 million), with a $219 billion in its largest money market fund it’s bigger than JPMorgan’s $134 billion U.S. Government fund and it’s got more credit scores than FICO.
Even appetites!
Fueled by rising incomes rather than urbanization, meat consumption in China grew sevenfold over the last three decades and a half. In the early 1980s, when the population was still under one billion, the average Chinese person ate around 30 pounds of meat per year. Today, with an additional 380 million people, it’s nearly 140 pounds. On the whole, the country consumes 28 percent of the world’s meat — twice as much as the United States. And the figure is only set to increase.
In so many ways, China is the new America . . . fueled simply by the size of its market and the economic power behind that, it is becoming the economic gorilla of the world. We won WWII basically because of our industrial might, as "the arsenal of democracy."
I, for one, welcome our new Chinese overlords.
Now excuse me while I'm off to my Mandarin class.