{"id":52873,"date":"2020-12-25T20:32:40","date_gmt":"2020-12-26T01:32:40","guid":{"rendered":"http:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=52873"},"modified":"2020-12-26T18:26:16","modified_gmt":"2020-12-26T23:26:16","slug":"china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank\/","title":{"rendered":"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=52873&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><img decoding=\"async\" width=\"315\" height=\"210\" src=\"https:\/\/www.oann.com\/wp-content\/uploads\/2020\/12\/2020-12-26T011856Z_1_LYNXMPEGBP007_RTROPTP_0_CHINA-ECONOMY-GDP_1-315x210.jpg?x81974\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"\" loading=\"lazy\" style=\"float:left;margin:0 15px 15px 0\" \/><\/p>\n<p>December 26, 2020<\/p>\n<p>LONDON (Reuters) &#8211;     China will overtake the United States to become the world&#8217;s biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the COVID-19 pandemic, a think tank said.<\/p>\n<p>&#8220;For some time, an overarching theme of global economics has been the economic and soft power struggle between the United States and China,&#8221; the Centre for Economics and Business Research said in an annual report published on Saturday.<\/p>\n<p>&#8220;The COVID-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China&#8217;s favour.&#8221;  <\/p>\n<div class=\"ad-spot\"><!-- AuctionX Display platform tag START --><\/p>\n<div id=\"24697x300x250x4195x_ADSLOT1\"><\/div>\n<p><!-- AuctionX Display platform tag END --><\/p>\n<\/div>\n<div data-pw-desk=\"med_rect_atf\"><\/div>\n<div data-pw-mobi=\"med_rect_atf\"><\/div>\n<p>The CEBR said China&#8217;s &#8220;skilful management of the pandemic&#8221;,  with its strict early lockdown, and hits to long-term growth in the West meant China&#8217;s relative economic performance had improved.<\/p>\n<p>China looked set for average economic growth of 5.7% a year from 2021-25 before slowing to 4.5% a year from 2026-30.<\/p>\n<p>While the United States was likely to have a strong post-pandemic rebound in 2021, its growth would slow to 1.9% a year between 2022 and 2024, and then to 1.6% after that.<\/p>\n<p>Japan would remain the world&#8217;s third-biggest economy, in dollar terms, until the early 2030s when it would be overtaken by India, pushing Germany down from fourth to fifth.<\/p>\n<p>The United Kingdom, currently the fifth-biggest economy by the CEBR&#8217;s measure, would slip to sixth place from 2024.<\/p>\n<p>However, despite a hit in 2021 from its exit from the European Union&#8217;s single market, British GDP in dollars was forecast to be 23% higher than France&#8217;s by 2035, helped by Britain&#8217;s lead in the increasingly important digital economy.<\/p>\n<p>Europe accounted for 19% of output in the top 10 global economies in 2020 but that will fall to 12% by 2035, or lower if there is an acrimonious split between the EU and Britain, the CEBR said.<\/p>\n<p>It also said the pandemic&#8217;s impact on the global economy was likely to show up in higher inflation, not slower growth.<\/p>\n<p>&#8220;We see an economic cycle with rising interest rates in the mid-2020s,&#8221; it said, posing a challenge for governments which have borrowed massively to fund their response to the COVID-19 crisis. <\/p>\n<p>&#8220;But the underlying trends that have been accelerated by this point to a greener and more tech-based world as we move into the 2030s.&#8221;<\/p>\n<p \/>\n<p> (Writing by William Schomberg; Editing by Toby Chopra)<\/p>\n<div class=\"ad-spot\"><!-- AuctionX Display platform tag START --><\/p>\n<div id=\"24697x300x250x4195x_ADSLOT1\"><\/div>\n<p><!-- AuctionX Display platform tag END --><\/p>\n<\/div>\n<div data-pw-desk=\"med_rect_atf\"><\/div>\n<div data-pw-mobi=\"med_rect_atf\"><\/div>\n<p>The post <a href=\"https:\/\/www.oann.com\/china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank\/\" target=\"_blank\" rel=\"noopener\">China to leapfrog U.S. as world&#8217;s biggest economy by 2028 &#8211; think tank<\/a> first appeared on <a href=\"https:\/\/www.oann.com\/\" target=\"_blank\" rel=\"noopener\">One America News Network<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>December 26, 2020 LONDON (Reuters) \u2013 China will overtake the United States to become the world\u2019s biggest economy in 2028, five years earlier than previously estimated due to the contrasting &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2180775,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.oann.com\/wp-content\/uploads\/2020\/12\/2020-12-26T011856Z_1_LYNXMPEGBP007_RTROPTP_0_CHINA-ECONOMY-GDP_1-315x210.jpg?x81974","fifu_image_alt":"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank","footnotes":""},"categories":[],"tags":[],"class_list":["post-52873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.oann.com\/wp-content\/uploads\/2020\/12\/2020-12-26T011856Z_1_LYNXMPEGBP007_RTROPTP_0_CHINA-ECONOMY-GDP_1-315x210.jpg?x81974","fifu_image_alt":"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/52873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=52873"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/52873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2180775"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=52873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=52873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=52873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}