Elon Musk, the CEO of Tesla and SpaceX, delivered a warning on Monday about China’s expanding economic might and how the US can stay competitive.
“What we’re going to see with China, for the first time that anyone alive can remember, is an economy twice the size of the United States, possibly three times the size of the United States, and it’ll be very strange living in that world,” Musk continued.
The United States has the world’s largest economy, with $23 trillion in economic production last year. China, on the other hand, which has a $17.7 trillion economy and has averaged 10% annual GDP growth since 1978, continues to develop its consumer sector and attract Western enterprises.
Musk advised American corporations to avoid political conflicts in the face of China’s development.
Indeed, Musk has previously chastised American corporations for attempting to become more socially conscious, including the Environmental, Social, and Governance (ESG) investment and management philosophy, which aims to support progressive causes while maximizing shareholder profits.
When software entrepreneur Marc Andreessen attacked ESG funds’ readiness to produce the weaponry needed to wage wars with hostile governments we buy energy from while also refusing to invest in energy firms, Musk noted that the rules had been stretched into absurdity.
President Joe Biden has also been a target of the billionaire. For example, following the commander-in-State chief’s of the Union speech in March, Musk criticized Biden for ignoring Tesla in favor of Ford and GM’s new electric vehicle projects.