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By 2028, China will overtake the United States and become the world’s largest economy. In other words, the rise of China is much faster than previously thought. Previously, it was thought that China would rise to the top position in 2033.
The US-based Center for Business and Economic Research (CBR) says China’s “efficient” handling of Kovid-19 will drive the country’s comparative growth in the coming years compared to the United States and Europe. Furthermore, India is also moving fast. By 2030, India will become the third largest economy in the world. This information was given in a BBC report online.
The CBR publishes the World Economic Analysis on December 26 of each year. However, China is the first country in the world to be affected by Covid-19. However, they control this infection through rapid and extremely drastic measures. On the other hand, the countries of Europe could not do that. China did not have to go to the lockdown a second time like European countries. The blockade measures economically paralyze a country.
China’s success has helped it avoid a recession in 2020 more than any other major economy. Growth of 2 percent is also expected this year. On the other hand, the US economy is the country most affected in the world by the epidemic. So far, more than 330,000 people have died in the country. The number of confirmed victims is approximately 2 million rupees.
