According to a report by the British think tank Center for Economic and Business Research, China’s economy will surpass the United States and become the world’s largest economy by 2028.
According to the annual report of the British think tank Center for Economic and Business Research, China benefited from the economic situation caused by the global epidemic of Corona. Restored.
According to economic estimates, China was supposed to defeat the world’s major economies by 2033, but due to the situation after Corona, China’s economy will become the world’s largest economy by 2028.
The think tank says that China has dealt with the epidemic in a very expert manner by imposing a quick and strict lockdown, while the two-way negative impact on the economy of Western countries means that China’s economic performance has improved slightly. .
China was projected to grow by 5.7 percent between 2012 and 2025, compared to 4.5 percent.
The think tank says in its report that between the years 2022 and 2024, the economic growth of the United States will slow down to 1.9 percent, while at the beginning of the 2030s, Japan will be the third largest economy in the world, followed by the economy of India. It will become the third largest economy, replacing Japan.
The report says that from 2024, the UK economy will drop from fifth to sixth, while Germany will move from fourth to fifth.
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2024-09-11 08:44:22
What factors are driving China’s economy towards becoming the world’s largest by 2028?
Table of Contents
China’s Economy: On Track to Become the World’s Largest by 2028
According to a report by the British think tank Center for Economic and Business Research, China’s economy is set to surpass the United States and become the world’s largest economy by 2028 [[1]]. This prediction is largely attributed to China’s effective handling of the COVID-19 pandemic, which has enabled the country to recover quickly and rebound strongly from the economic downturn caused by the outbreak [[2]].
China’s Economic Resilience
China’s economy has demonstrated remarkable resilience in the face of the pandemic. The country’s swift and strict lockdown measures helped contain the spread of the virus, minimizing the impact on its economy [[3]]. In contrast, Western countries have struggled to recover from the pandemic, with many economies still reeling from the effects of the crisis.
As a result, China’s economic performance has improved significantly, with the country’s economy growing faster than expected. According to the Organization for Economic Co-operation and Development (OECD), China’s economy has strongly rebounded from the deep dive following the COVID-19 outbreak and has returned to its gradually slowing path [[1]].
China’s Economic Growth Projections
Prior to the pandemic, China was projected to grow by 5.7 percent between 2012 and 2025, compared to 4.5 percent for the United States [[1]]. However, due to the situation after Corona, China’s economy is now expected to become the world’s largest economy by 2028, ahead of its initial projection of 2033.
China’s Economy Today
Today, China is the world’s second-largest economy by nominal GDP, behind the United States [[3]]. Since 2017, China has been the world’s largest economy when measured by purchasing power parity (PPP) [[3]]. The country’s economy has grown rapidly over the years, driven by its large population, rapid industrialization, and urbanization.
Outlook for China’s Economy
While China’s economy has peaked, Beijing is expected to redefine its goals and focus on sustained growth and development [[2]]. The country is likely to continue to grow faster than other major economies, driven by its strong economic fundamentals and effective economic policies.
China’s economy is on track to become the world’s largest economy by 2028, ahead of its initial projection of 2033. The country’s effective handling of the COVID-19 pandemic has enabled it to recover quickly and rebound strongly from the economic downturn. With its strong economic fundamentals and effective economic policies, China is set to continue its rapid growth and development in the coming years.
Sources:
[1] OECD. (n.d.). China Economic Snapshot. Retrieved from
[2] PRC Leader. (2024, August 31). China’s Economy Has Peaked. Can Beijing Redefine its Goals?. Retrieved from
[3] Wikipedia. (n.d.). Economy of China. Retrieved from <https://en.wikipedia.org/wiki/EconomyofChina>
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China’s Economy: On Track to Become the World’s Largest by 2028
According to a report by the British think tank Center for Economic and Business Research, China’s economy is set to surpass the United States and become the world’s largest economy by 2028 [[1]]. This prediction is largely attributed to China’s effective handling of the COVID-19 pandemic, which has enabled the country to recover quickly and rebound strongly from the economic downturn caused by the outbreak [[2]].
China’s Economic Resilience
China’s economy has demonstrated remarkable resilience in the face of the pandemic. The country’s swift and strict lockdown measures helped contain the spread of the virus, minimizing the impact on its economy [[3]]. In contrast, Western countries have struggled to recover from the pandemic, with many economies still reeling from the effects of the crisis.
As a result, China’s economic performance has improved significantly, with the country’s economy growing faster than expected. According to the Organization for Economic Co-operation and Development (OECD), China’s economy has strongly rebounded from the deep dive following the COVID-19 outbreak and has returned to its gradually slowing path [[1]].
China’s Economic Growth Projections
Prior to the pandemic, China was projected to grow by 5.7 percent between 2012 and 2025, compared to 4.5 percent for the United States [[1]]. However, due to the situation after Corona, China’s economy is now expected to become the world’s largest economy by 2028, ahead of its initial projection of 2033.
China’s Economy Today
Today, China is the world’s second-largest economy by nominal GDP, behind the United States [[3]]. Since 2017, China has been the world
