More and more economists are questioning whether the prediction that China will sooner or later become economically larger than the United States will ever come true. In any case, the recent setback in the Asian country will slow down the catching-up process.
Why is this important?China until recently was considered by many as almost certain to become the new number one. If the United States nevertheless remains ahead, the geopolitical balance of power may change less than expected.
In the news: New indicators from the Chinese government confirm what has been clear for some time: China’s economic growth is declining sharply. And then perhaps the biggest COVID shock has yet to come.
- Activity in China’s manufacturing and services sectors fell in December to the lowest level since February 2020, according to the latest PMI sentiment indicators.
- Economists say the dramatic easing of China’s COVID policies will lead
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