China’s economy overtakes due to first US Kovid fallout set

On December 21, two people kneeled near the Bund Bull statue in Shanghai.

Photographer: Qilai Shen / Bloomberg

According to the Center for Economics and Business Research, the already anticipated Chinese economy is set to overtake the US after the coronovirus epidemic outperforms the West.

On Saturday, the world’s largest and second-largest economies are said to have traded at $ 2028 in 2028 compared to five years ago.

In its World Economic League table, the consultancy also calculated that China could become a high-income economy as soon as 2023. Also Asia’s rising cement, India is poised to move up to become the number 3 economy. Decade.

Ranking (of 193 countries) 2020 2030 2035
America 1 2 2
China 2 1 1
Japan 3 4 4
Germany 4 5 5
The uk 5 6 6
India 6 3 3
France 7 7 7

Chinese President Xi Jinping said last month that it is “entirely possible” for his economy to double the size under his government’s new five-year plan by 2035, which aims to achieve “modern socialism” in 15 years.

Read more: Early lockdowns Secure jobs in government response to epidemic

According to government data, China was the first economy to suffer an epidemic, but recovered rapidly. According to the report, Western economies should be motivated to pay more attention to what is happening in Asia.

“Usually, we compare ourselves with other Western economies and remember what is often the best practice, especially in fast-growing economies in Asia.”


Leave a Reply

Your email address will not be published.