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Interview, Statement

The Peking order: Can China’s army surpass the US?

The EconomistRosie Bloor, Jason Palmer, Shashank Joshi, Avantika Chalkoti, Anne Rowe
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  • China aims to modernize its armed forces by 2035 and achieve parity with the U.S. military by 2049, with American officials assessing that China is currently on track to make its military world-class.
  • The ratio of vertical launch system cells on U.S. versus Chinese ships, which was approximately two to one last year, is projected to shift in China's favor by 2026 or 2027 as Beijing develops capabilities to narrow the strategic gap.
  • Nuclear submarines resulting from the AUKUS partnership between the U.S., Australia, and Britain are not expected to become operational until the 2040s.
  • The incoming Trump administration plans to prioritize competition with China by reducing engagement in Europe and the Middle East to reallocate resources toward the Asia-Pacific region.
  • MyTheresa's chief executive projects the combined MyTheresa and Yuku's Net-a-Porter business to reach profitability within the next four to five years.
  • MyTheresa intends to merge the backend operations of its business with Net-a-Porter and Mr. Porter while simultaneously separating its discounting business.