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Chinese economy to overtake US 'by Top Stories

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China is the only major global economy that will have expanded in 2020 staying positive this winter

China will overtake the US to become the world's largest economy by 2028,
five years earlier than previously forecast, a report says.

The UK-based Centre for Economics and Business Research (CEBR) said
China's "skilful" management of Covid-19 would boost its relative growth
compared to the US and Europe in coming years.

Meanwhile India is tipped to become the third largest economy by 2030.

The CEBR releases its economic league table every year on 26 December. 'She is very beautiful and
intelligent but she is Indian'
Although China was the first country hit by Covid-19, it controlled the disease
through swi and extremely strict action, meaning it did not need to repeat
economically paralysing lockdowns as European countries have done.

As a result, unlike other major economies, it has avoided an economic

recession in 2020 and is in fact estimated to see growth of 2% this year.

'China is a hard rock. It won't be beaten by virus'

Millions of Americans face jobless benefits lapse

The US economy, by contrast, has been hit hard by the world's worst Books 2021: A pick and mix of
coronavirus epidemic in terms of sheer numbers. More than 330,000 people what's coming up
have died in the US and there have been some 18.5 million confirmed cases.

The economic damage has been cushioned by monetary policy and a huge
fiscal stimulus, but political disagreements over a new stimulus package could
leave around 14 million Americans without unemployment benefit payments
in the new year.

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"For some time, an overarching theme of global economics has been the
economic and so power struggle between the United States and China," says
the CEBR report. "The Covid-19 pandemic and corresponding economic
fallout have certainly tipped this rivalry in China's favour."

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The report says that aer "a strong post-pandemic rebound in 2021", the US New coronavirus variant: What do
economy will grow by about 1.9% annually from 2022-24 and then slow to we know?
1.6% in the years aer that.

By contrast the Chinese economy is tipped to grow by 5.7% annually until

2025, and 4.5% annually from 2026-2030. Elsewhere on the BBC
China's share of the world economy has risen from just 3.6% in 2000 to 17.8%
now and the country will become a "high-income economy" by 2023, the
report says.

The Chinese economy is not only benefitting from having controlled Covid-19
early, but also aggressive policymaking targeting industries like advanced
manufacturing, said CEBR deputy chairman Douglas McWilliams.

"They seem to be trying to have centralised control at one level, but quite a
free market economy in other areas," he told the BBC. "And it's the free market
bit that's helping them move forward particularly in areas like tech." Trapped between the sea and the
German troops
But the average Chinese person will remain far poorer in financial terms than Dunkirk tells the story of the legendary
the average American even aer China becomes the world's biggest economy, evacuation of Allied forces
given that China's population is four times bigger.

In other predictions:
The post-Brexit UK economy will grow by 4% annually from 2021-25 and
1.8% annually from 2026-30 (aer shrinking in 2020)

India had overtaken the UK as the fih-biggest economy in 2019 but has
slipped behind it again due to the pandemic's impact. It won't take over Barack Obama's revealing
again until 2024, the CEBR says presidential memoirs
India's economy will go on to overtake Germany in 2027 and Japan in 2030 A Promised Land is an insight into his life, work
and inspirations

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