Is Beijing the new center of the world?

China is on the agenda not only with its cheap labor force in the world economy, but also with its technology, its competitiveness, its monopoly power over critical raw materials, and its motivation to become the largest economy in the world.

CHINA IS NOW IN THE POSITION OF RULE-SETTER IN TECHNOLOGY

China is now setting the standards in digital and green technologies that are profoundly changing the world economy.

This transformation affects many sectors, from electric vehicles to the defense industry.

China not only develops technology, but also carries out high-tech production with this technology.

This makes China the central country in high technology and supply chains.

THE NEW ENERGY SOURCE: RARE EARTH ELEMENTS ARE UNDER CHINA'S CONTROL

The most critical area where China holds the jugular vein of the global economic system is undoubtedly critical raw materials and rare earth elements.

The processing and refining capacity of raw materials and rare earth elements, on which countries are dependent in the digital and green transformation, is largely under China's control.

Although the US, which stands out as a rival to China, is trying to establish alternative supply chains, it is impossible for it to substitute or compete in the short term with the ecosystem of raw materials and rare earth elements that China has built over the years.

CHINA HAS THE GOAL OF BECOMING FIRST IN GDP

Currently, while the US is first and China is second in the world in nominal GDP, in the GDP ranking calculated by purchasing power parity, China has overtaken the US to become the world's largest economy.

Therefore, China aims to overtake the US in nominal GDP and become the greatest power in the world.

For China, becoming first in GDP is not only an economic goal; it is also the way to change global financial institutions, reserve currencies, and international trade rules in its favor.

Therefore, with its technological superiority, its processing and refining capacity of raw materials and rare earth elements, and its goal of having the largest GDP in the world economy, China is also challenging the political and economic hegemony that the US has held for years.

This means a new world order.

On this occasion, I wish all our readers a happy Feast of Sacrifice (Eid al-Adha).