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Economy
China expected to displace US as world's biggest economy by 2028
2020-12-27
[NYP] China’s economy has bounced back so quickly after the coronavirus that it is expected to displace the US as the world’s biggest economy by 2028, according to a new report.

In its annual study of 193 countries, the Center for Economics and Business Research said that China had quickly recovered from the effects of COVID-19 and would grow by two percent in 2020 — the only major world power to expand.

The US is expected to contract by 4.4 percent this year — the country’s biggest fall since the Second World War, according to the London-based group.

"The big news in this forecast is the speed of growth of the Chinese economy," said Douglas McWilliams, deputy chairman of the Center for Economics and Business Research. "We expect it to become an upper-income economy during the current five-year plan period (2020-25). And we expect it to overtake the US a full five years earlier than we did a year ago."
Posted by:Besoeker

#16  They'll get plenty of help from Biden, Harris and all the globalist elites in America.
Posted by: Abu Uluque   2020-12-27 18:49  

#15  Food? They gonna colonize Africa?
Posted by: BrerRabbit   2020-12-27 15:37  

#14  I wonder how much China's economy would expand if they were forced to follow the limits imposed on western countries in the Paris accord.
Posted by: Rambler in Virginia    2020-12-27 14:28  

#13  Wonder what all that success will do to their carbon emissions and if the greens worldwide or even China themselves care.
Posted by: rjschwarz   2020-12-27 14:17  

#12  Is there any area where China produces a best-of-breed product?

Lethal influenza strains
Ghost cities
Imaginary islands-cum-airbases
Phantom billionaires
AI-powered surveillance technology
"Confucius Institutes"
Posted by: Clomolet Grundy4366   2020-12-27 13:50  

#11  Well people never underestimate China or any developing nation. Anything can happen at anytime. :)
Posted by: Wren   2020-12-27 13:43  

#10  Falling apart in every way a country could. NYP paid support.
Posted by: Dale   2020-12-27 12:57  

#9  #7

Every nation can be said to be developing inta something I suppose. ☺
Posted by: Dron66046   2020-12-27 12:07  

#8   The only problem with this theory is it requires you to accept the figures as reported by the Chinese.

This. I am waiting ti see where every other nation ends up a year after the Covid shutdowns are over.
Posted by: trailing wife   2020-12-27 12:04  

#7  Not bad for a "developing nation".
Posted by: Clem   2020-12-27 11:01  

#6  The only problem with this theory is it requires you to accept the figures as reported by the Chinese. Be my guest.
Posted by: Cesare   2020-12-27 10:59  

#5  As the US commits economic suicide, China will, at least by default, surpass the US. I say by 2035.
Posted by: Clem   2020-12-27 10:56  

#4  Seems to me there is a qualitative difference between a billion people growing rice and spreading night soil, and 0.3 billion making cars, medical tech and practicing industrial-scale agriculture.

Is there any area where China produces a best-of-breed product? Made In Japan used to mean cheap plastic junk, but they evolved into making brand names known world-wide for quality. This path is not available to the Chinese due to cultural differences - Japan's constant improvement vs China's screw the other guy attitude
Posted by: SteveS   2020-12-27 10:45  

#3  I am betting 2025

"On a per capita basis they are far far behind"

Far behind only in deep China.
Posted by: Thorong Grundy1520   2020-12-27 10:43  

#2  I'm betting on 2031. Who will take 2033?
Posted by: b   2020-12-27 07:53  

#1  On a per capita basis they are far far behind.
Posted by: Mad Eye Angonter1301   2020-12-27 07:33  

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