China Expected to Overtake US Economy by 2028

China will overtake the US as the world’s biggest economy by 2028, according to a report, partly due to its better performance in handling the pandemic.

The Centre for Economics and Business Research, based in London, said that it anticipated the value of China’s economy to overtake the US by 2028 in terms of dollar value.

In its annual league table of the growth prospects of nearly 200 countries, the group said China had recovered quickly from the effects of Covid-19 and would grow by 2% in 2020, as the one major global economy to expand while others saw their economies shrink.

Across the world, gross domestic product (GDP) is anticipated to fall by 4.4% this year, in the biggest one-year fall since the second world war.

“Other Asian economies are also shooting up the league table. 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.”

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