Just Compare China, USA, India, West's share in GLOBAL GDP (current USD nominal measurement)
from 1970 to 2019 to expected 2024.
China's rose from 3.1% to 17.04% to expected 20.6%.
India's rose from 2.09% to 3.18% to expected 3.3%.
USA's fell from 35.93% to 24.65% to expected 24.2%.
EU's fell from 24.3% to 18% to expected 17.68%.
So West got reduced from 60% to 42% i.e. reduced by 18%.
And China got raised from 3% to 20% i.e. raised by 17%.
So here the matter is the entire economic power lost by West has been gained by China.
It can be concluded without any doubt that rise of China has alone reduced economic power of West.
Population of China is 1.4 billion while population of West is 1.06 billion.
We can say quite comfortably that China's potential GDP is 24% more than that of West.
So we can assess that Chinese global share of GDP will grow as much as 33.7% while West's global share of GDP will fall to 26.5% and only after that China may stop to raise its share.
China/West is now 20/42 and hence China has still lot of potential in its favor.
West could not find any competitor of China in last 52 years.
India's share in Global GDP rose by mere 1.09% in same 52 years.
India is still way behind in health, education, basic infrastructure compared to 1970s China.
West has to accept China's rise.
There is no alternative (TINA).
Author: Saikat Bhattacharya
