A recent report by the Centre for Economics and Business Research (CEBR) indicates China will recover and overtake the U.S. economy sooner than expected following fallout from the COVID pandemic.
According to the report, China is predicted to swap places with the United States by the year 2028 “after weathering the coronavirus pandemic better than the West.”
Bloomberg News reports, “The world’s biggest and second-biggest economies are on course to trade places in dollar terms in 2028, five years earlier than expected a year ago.”
“The COVID-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China’s favor,” the CEBR maintains regarding the two superpowers.
The CEBR also praised China’s “skillful management of the pandemic” in contrast to the West.
China set to surpass U.S. as world’s biggest economy by 2028, says reporthttps://t.co/q2LZ9Bya30
— 👨🔬⚡XRP Yoyo⚡ 🙅♂️ (@XrpYoyo) December 26, 2020
China’s Economy Recovers After COVID Pandemic
Ironic, isn’t it, that China’s economy will recover more rapidly than America’s when they were the nation that introduced the rest of the world to the pandemic currently destroying our businesses?
When the dust settles, China may well be the nation that benefits the most from the terrible disease they unleashed on the planet.
“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,” CNBC reports.
China, on the other hand, is set to “average economic growth of 5.7% a year from 2021-25 before slowing to 4.5% a year from 2026-30.”
The U.S. lost 140,000 jobs in December, the first decline since April. https://t.co/S1ZjymHj2y
— The New York Times (@nytimes) January 8, 2021
No Better Friend To China Than Biden
There has been no better friend to the Chinese economy than soon-to-be President Biden, as evidenced by his decades’ worth of background in helping them advance.
He helped give China “most favored nation” trade status, killing millions of American jobs.
Touting his foreign policy credentials on the campaign trail in March, Biden recalled how he once told former President Barack Obama that “China is not our problem.”
“China is going to eat our lunch?” Biden scoffed at a rally shortly after he announced his candidacy. “Come on, man.”
#OnThisDay last year Joe Biden reminded us why he would be the worst choice to stand up to China & fight for American workers.
“China is going to eat our lunch? Come on, man… they’re not bad folks, folks… They’re not competition for us.”pic.twitter.com/5jMQe6DUnq
— Trump War Room (@TrumpWarRoom) May 1, 2020
Jake Sullivan, who will serve as Biden’s National Security Adviser, once advised that America needs to help facilitate China’s rise economically.
During a lecture in 2017, Sullivan told students at Lowy Institute that “we need to strike a middle course – one that encourages China’s rise in a manner consistent with an open, fair, rules-based, regional order.”
He later added that the United States policy towards China “needs to be about our ties to the region that create an environment more conducive to a peaceful and positive-sum Chinese rise.”
#US should encourage #China‘s rise, #Biden national security pick Jake Sullivan says.
Sullivan served as an adviser to Biden during his vice presidency. #geopolitics #security #G2 #strategicforesight https://t.co/magFv59ZS8 pic.twitter.com/CiMSfGiObW
— Velina Tchakarova (@vtchakarova) November 25, 2020
The Global Times, a Chinese Communist Party newspaper, believes Biden stepping into the White House will also be beneficial to them.
They report that a professor at the Institute of International Relations at the China Foreign Affairs University refers to the Biden team as a group of “elites” who would be “very ‘predictable’ in foreign policy with a multilateral mind-set.”
What a relief that must be after four years of President Trump holding their feet to the fire.
This piece originally appeared in ThePoliticalInsider.com and is used by permission.
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