W***n
发帖数: 11530 | 1 China's pace to overtake U.S. as world's largest economy accelarates by 5
years, report predicts
Tim O'Donnell
Sat, December 26, 2020, 10:30 AM CST
China is on course to overtake the United States as the world's biggest
economy by 2028, the Center for Economics and Business Research predicted in
a report released Saturday. The two countries have long been expected to
swap places, but CEBR anticipates the pace has accelerated thanks to China
recovering more quickly from the COVID-19 pandemic.
A year ago, the CEBR pegged 2033 as the transition year, but China's economy
is expected to grow by 2 percent in 2020, the lone major global economy to
expand, while the U.S. economy, on the other hand, is expected to contract
by 5 percent. The report also anticipates China will become a "high-income
economy" by 2023, though living standards are expected to remain much lower
than in the U.S.
China is not alone in its region when it comes to economic growth. "Other
Asian economies are also shooting up the table," said Douglas McWilliams,
the CEBR's deputy chair. "One lesson for western policymakers, who have
performed relatively badly during the pandemic, is that they need to pay
much more attention to what is happening in Asia rather than simply looking
at each other." Read more at The Guardian and Bloomberg. | W***n
发帖数: 11530 | | W***n
发帖数: 11530 | 3 btw, this is based on norminal GDP
PPP GDP is already #1 |
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