The following is the It is estimated that China’s economy will surpass that of the United States in 2032 From economist intelligence unit recommended by recordtrend.com. And this article belongs to the classification: global economy .
Simon Baptist, global chief economist at the Economist Intelligence Unit, said on Friday that China is expected to overtake the US as the world’s largest economy in 2032. He added that due to the impact of COVID-19, this time will be two years ahead of the predicted 2034.
China has recovered rapidly from the economic crisis triggered by COVID-19, and GDP grew by 2.3% in 2020, becoming the only major economy to achieve growth. By contrast, the Bureau of economic analysis estimates that the US economy will shrink by 3.5% in 2020.
Mr. Baptist’s prediction seems to be more conservative than some other economists. Helen Qiao, head of Asian Economics at Bank of America’s global research division, said last month that China’s economy is expected to surpass that of the US between 2027 and 2028.
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