China already surpassed the US in terms of the real productive economy. The US includes financialized nonsense in its GDP, things that aren't productive at all but are rather weights on production and individuals. Examples:

• When someone has to pay an overdraft fee, that gets counted in GDP as a financial service. A situation that is actually a personal debt is counted as creating and selling a commodity.

• Increasing housing values / prices are included as well. A house sits there doing squat for a decade doubles in value and gets sold. Hundreds of thousands get added to the GDP even though the price difference is due to financial speculation and a physical monopoly (location). Also, housing costs outpace inflation, so this scenario is actually increasing the cost of living.

• Don't even get me started on health insurance.

China has surpassed the US because it has become vastly more productive in its real economy, in its ability to make real things and useful services. It has been able to do that by increasing capital intensive production and technology by dangling cheaper costs in front of the international bourgeoisie, which they gladly accept. A bit of an imperialism switcheroo and a risky yet successful gambit.

Is this good for socialism? Of course. International capital, seated in the white supremacist North Atlantic countries, depends on imperialism, ultimately through hybrid warfare (military and financial weapons). A strong China undermines imperialism in several ways:

• Directly in their own country by creating a geopolitical position in which they can set their own terms of governance, including economic. Compare China's situation to that of India since the 90s. India went in precisely the opposite direction and suffers tremendously by imperialism. Also China is literally run by a communist party

• By providing an alternative trading partner that undermines US sanctions, a real weapon of war.

• By providing alternative financial systems, e.g. what BRICS may deliver. Groups like the IMF are an arm of imperialism and they are increasingly undermined. Dollar debts are used to trap countries on imperialized suicide paths. Watch Argentina nosedive straight into that trap.

• By providing an alternative model that is entirely realizable, arguably more realizable, through socialist anticolonial revolution.

US/UK-led imperialism has been the primary barrier to socialism for over a century. It has murdered millions upon millions to keep the ruling class at its perceived advantage. This is usually why revolutions failed and nearly always why they were dismantled after early success. Hell, the imperialists don't even allow us to exist when we win elections, with examples in Latin America, Africa, and Asia (the global south, not coincidentally). They are an ontological evil, the greatest threat to socialism, and they must be destroyed at all costs.

A good rule is that anything that's bad for the US is good for socialism.

Absolutely, China has been consistently helping socialist countries around the world, and providing an alternative to the exploitative US based institutions such as the IMF. It's worth noting that China offers its experience for others to learn from, but doesn't try to impose it on other countries.

The first step towards advancing socialism globally is to roll back US hegemony over the world to allow countries to develop independently and in the interest of their own people. China is playing a pivotal role in achieving this goal. China is also acting as an example that socialist model is more effective than a capitalist one.

complicated question, imma pull a socialist brand of enlightened centrism.

china being number one in economics doesn't directly mean anything that meaningful to revolutionary movements, other than a morale boost to CPs and some sympathy among some people, since china isn't yet in the phase of sponsoring revolutionary movements out there like ussr did.

buuuuut, since they are a well develop and industrial powerhouse, they have the material conditions to withstand imperialists assaults and keep the revolution alive, whilst doing fair trade with the global south, weakening a little colonial nations like france and bringing about the multipolar world.

China is already first in GDP PPP, which is arguably better than nominal GDP as a measure of living standards and economy size.

I’d say it’s a good start but it’s not enough for any material change. That can only come from the collapse of the American empire (as we know it). Also, imperialism from the global north is not limited to the US.

In the end, it’s not size, but control. The implication that size = control is only applicable in a globalized economy. If the core countries adopt more isolationist policies then China’s influence on core countries will be reduced.

A larger China would strengthen bipolarity/multipolarity, which is a good thing, and would stabilize the situation we are observing currently, and aid in the development of socialist states. But having a strong China wouldn’t necessarily mean the collapse of the core.

It’s a question of quantitative change vs qualitative change, as described by Mao. Reform vs revolution.

Yes.

sounds like better news that US recovering itself...

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not really but maybe it will help to weaken US imperialism which may help the left wing forces around the world.