China to overtake US as world's biggest economy by 2028
China is set to overtake US as the world's biggest economy by 2028, says a report in CEBR - Centre for Economics and Business Research - a UK-based consultancy group.
In its annual league table of the growth prospects of 193 countries released today, CEBR said China would grow by 2% in 2020 and the value of China’s economy in dollar terms would exceed that of the US by 2028, five years sooner than CEBR expected a year ago. The reason: China bounced back quickly from the effects of Covid-19 as opposed to its rival economies, like the US.
For several years, we have been comparing the GDP (PPP) of China and US economies and making predictions when China will overtake in GDP Nominal. Check out this piece.
Wali Zahid is a longtime China watcher and a Pakistan futurist. An award-winning journalist, he writes on issues of significance to Pakistan and CPEC & BRI.