Great news, truly the death of capitalism and neoliberalism in particular is imminent, I dont know what will happen to me or others stuck in the belly of this dying monster but at least I can be glad that it is in fact, dying.
Geopolitical Economy Report did two long video discussions on China's growth last month which are worth watching if you're interested.
In short, yes. China can keep up about a 5% average annual growth rate. Because capital is controlled by the state, and the state invests in developing the means of production and improving people's quality of life, China is indeed capable of achieving their development goals.
Interestingly enough, just as the decade or so of near ten percent annual growth was planned and achieved, the recent deceleration to about five percent growth was also planned.
i dont actually understand what this means, what does "running hot" mean (if it's based off some neoclassical economics idea i seriously doubt it's valid)
Here's hoping that it doubles it, and then some- and that the rest of the global south and east follows its course as well. It's about time that actual production, actual civilizations, societies with actual human decency returned to the forefront of the world again, and imperialists who have never evolved their societies past pillaging and genocide have no place there. The west will have to undergo revolutionary change, or be left in the dustbin of history as they deserve.
What might alter this perspective
Any number of factors might derail China's growth, even in the short term, including war over Taiwan, mismanagement of the Chinese economy linked to its poor Governance rating, and further attempts by America to reduce trading links with China.
So as long as nothing unexpected happens, yeah, the graph will keep going as it has been. Great article, well worth a much better response than I gave it.