LONDON — China will overtake the United States to become the world’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.
“For some time, an overarching theme of global economics has been the economic and soft power struggle between the United States and China,” the Center for Economics and Business Research said in an annual report published on Saturday.
“The COVID-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China’s favor.”
The CEBR said China’s “skilful management of the pandemic,” with its strict early lockdown, …
Keep on reading: China to leapfrog US as world’s biggest economy by 2028 — think tank