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Zero Hedge: Here's When China Will Win The Arms Race With The US, And How BofA Is Trading It
For all the talk of the escalating confrontation between the US and China, Bank of America's Mike Hartnett writes that the "trade war" of 2018 should be recognized for what it really is: the first stage of a new arms race between the US & China to reach national superiority in technology over the longer-term via Quantum Computing, Artificial Intelligence, Hypersonic Warplanes, Electronic Vehicles, Robotics, and Cyber-Security.
This is hardly a secret, as the China strategy is laid out in its “Made in China 2025” blueprint: It aims to transform “China’s industrial base” into a “smart manufacturing” powerhouse via increase competitiveness and eroding of tech leadership of industrial trading rivals, e.g. Germany, USA, South Korea; this is precisely what Peter Navarro has been raging against and hoping to intercept China's ascent early on when it's still feasible.
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WNU Editor: On my last visit to China a few years back I asked a friend of mine who works for the Chinese foreign office on how long will China continue to increase its defense budget. His answer .... until we the past the U.S. defense budget and beyond. I did not take it seriously then .... but now .... I certainly do. As for the above graph .... the projected year that China will surpass the U.S. military in spending will be in 2038.
