China is predicted economic dominance over the United States
- Posted by: Admin
- Category: Digest
China is predicted to dominate the United States economically within 10 years. This was written by the American Bloomberg agency after the speech of the President of China Xi Jinping at the opening of the fifth plenum of the Central Committee of the Communist Party of China, which presented to the meeting participants the draft of the 14th five-year plan for socio-economic development (2021-2025).
China is expected to focus on technological innovation and environmental improvements. As the agency writes, if in the coming years the growth rate of the Chinese GDP remains at the same level, then the economy of China, which currently ranks second in the world, will overtake the economy of the United States, the current leader of the rating, within a decade.
The International Monetary Fund (IMF) previously named China the only largest economy in the world to grow by the end of 2020. It is expected that this year, the Chinese GDP will add 1.2 percent, and in 2021 it will grow by 8.2 percent.
Photo: Huang Jingwen / Xinhua / Globallookpress.com