In: Economics
What country could challenge the US for unipolarity and why, what would be the effect if that happened. Don't just answer yes or no, explain your answers fully.
China is being regarded as the potential challenge to unipolar world which is being commanded by United State of America (USA). Chinese economy is performing overwhelmingly good and it is projected that by 2030 it may surpass US economy. China is making all efforts to maintain high growth rate trajectory. Politically, China is making its presence felt through military alliance and One Road-One Belt initiative.
If power of USA is challenged, there would be most undesirable consequences for whole world. World may witness next world war.
But experts argue that in this globalised world where all economies and countries are economically interdependent next world war is not possible. China has substantially reduced its military spending and it spends roughly $ 7 billion on foreign affairs while US spends more than $ 48 billion on same. Thus, there is no comparison between these countries. There is no challenge to US as of now.
China is already facing issue of ageing population, pollution and staggering industrial growth, hence there are scant of chances of headoff between China and USA.