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A bit ‘imagined, but now it’s official: the China will exceed the U.S and will become the first economy to the world in 2028, five years earlier than initially estimated. The Center for Economic and Business Research foresees this, according to which overtaking will take place earlier than expected due to Covid.
Variant Covid, China suspends flights to and from the United Kingdom
China is estimated to grow 2% this year, the only major economy growing. US GDP will contract by 5% in 2020, allowing Beijing to narrow the gap. Overall, global GDP, as estimated by CEBR, will fall 4.4% this year, in what is the largest annual contraction since World War II.
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Last updated: 18:52
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