REPORT: China expected to overtake US by 2028
China is expected to overtake the US five whole years earlier than was previously expected, according to a new study.
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China is expected to overtake the US five whole years earlier than was previously expected, according to a new study.
China is expected to overtake the US five whole years earlier than was previously expected, according to a new study.
The Center for Economics and Business Research said that China is projected to grow 2% in 2020, the only major country in the world projecting positive growth for this year, the New York Post reports.
Douglas McWilliams, the Deputy Chairman of the Center, stated the following:
"The big news in this forecast is the speed of growth of the Chinese economy. 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."
The US, in turn, is expected to have negative 4.4% economic growth this year, which is the lowest number since the Great Depression.
There is, however some doubt about China's true numbers, since it is a nation with no transparency in reporting statistics whatsoever.
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